Member Info for Hotfinance14

Regarding the MSC Fuel agreement you have to ask youself ths question.

Two days before Q1 ended (March 31st) JM stateds they still expected to have this signed off.If that was the case the other parties must have iinformed him they are very close to concluding negotiations and signing it off. So what significantly changed in those 2 days for it still not to be signed off as we approach August ? It just simply does not add up.

'"I am giving them until the AGM"'

Will you then go to the Quadrise office and demand some answers Vince ?

46G..One thing for sure is that MSC rare in no rush to start this trial and surely the BOD must be asking why.

'And the majority of shareholders and new investors looking at it as a good chance to load up before the 5 major projects land any day 😊'

'The MASC Fuel agreement has been 'any day' for over 8 months now.

With the lack of news and some sharholders losing confidence with the compasny we could well see the SP back to around the 1.25p open offer price.

'Meanwhile other shipping cinpanies March forward.....MSC is messing us about just like Maersk'

I agree Vince, Quadrise need to ask these other interested sshipping companies AM mentioned in general and see if they want to trial the fuel. Surely after months the BOD must be thinking something is not right here.

Good email 46G. They usually repond saying they are dealing with large multi national companies and these things are complex. They are not complex at all as the simple question to each party is what is holding up the agreement and what can be done to resolve this. As it is 8 months of negotiating now I tend to think it is less likely to be agreed.

'Its got to start first.'

Exactly barking. Don't be suprised if the next news is from the final results which will be announced at the end of Sept/early October.

SC - So why did they name us and our fuel last year ?

I doubt there will be anything from Morocco until September when the trial should be completed. So nothing imminent.

I rthink that them not mentioning Quadrsie (when they did last year) and the 8 month delay in the MSC fuel agreement sums things up.

I recall some treatment has to be completed before the samples can be sent. How long thus treatment takes is anybodies guess but i would assume just a few weeks.

Press Release 15th July 2024 New Ceo at Trio :

https://ir.trio-petroleum.com/press-releases/?qmodStoryID=8770630253578057

It seems Michael Peterson was CEO for a tempoary period. The press release still states what was apreviously stated regarding our project :

“Our newest asset, the Asphalt Ridge Project in Utah has its first two wells drilled and completed. We have begun heat treatment on one well, and the second is slated to shortly follow. We expect that within 30 days, we will begin meaningful production on the Asphalt Ridge Project, adding yet another source of predictable cash flows to our business.”.

This is how I see the possible news for Q324 :

MSC - There is obviously a big issue regarding the trial fuel agreement. It has now taken 8 months of negotiations and still ongoing so could easily go 10 or 12 months plus so maybe no news at all this qtr.

Morocco - The trial is planned to be completed in Q324 so hopefully we get some news by the end of September.

Utah - I think i am correct in stating production at the wells is expected this month so the samples should be sent to QRF soon.I also understand they have been gathering the data for the Unitization permits and there is a DOGM meeting on 31st July regarding the approval.We should get the $1m payment from the $15m funding this qtr with the $0.5m for the MMU to follow.

Anerica's and Asia trials - Nothing this Qtr as those that know will know the trials that are in final discussions will be in final discussions for a very long time.

We have the final year end results at the end of Sept/beginning of Oct so will get a full update then.

Hopefully he is not holding as he is a pump and dump machine.

The MSC Leandra has just departed and is on it's way to Mexico. How frustrating that after 8 months the parties involved in the trial fuel agreement are still negotiating and we have missed the start of the trial on this jounrney to Mexico.

The last rns on the timing of the trial stated :

'The operational trial is expected to commence mid-2024. It will comprise an initial 1-2 month Proof of Concept ("POC") period using MSAR® and then bioMSAR™ for performance baseline tests, followed by 4,000 hours of operation (approximately 6-8 months) on bioMSAR™ in order to obtain a Letter of No Objection ("LONO") from the engine manufacturer, Wärtsilä.'

The trial is now delayed from the expected mid 2024 and it looks like Wonga could be correct with the starting of the trial Q424/Q125.

Akhm..JM has been stating they are continuing their talks to finalise the agreement for over 6 months now.

Regarding the IMC call i have been mentioning i can confirm Quadrise look forward to holding a call once we are able to discuss further progress on our projects, including the MSC project.

Good lord some of these forum members certainly like to blow their own trumpet. As many know some of them are egomaniacs.

I wonder how the discussions are going regarding the trials in Asia and Americanas. I think it was in April we were told they are in FINAL discussions. I am concluding FINAL also means IMMINENT.