Member Info for Hotfinance14

Vauch..Do you knoqw if Valkor gotr the permits to drill ? Thay stated they expected these early September. Maybe you could ask SB.

We were told Valkor would get drilling permit approval early September. On the Valkor website they post DOGM updates. Nothing about the permits being approved :

https://www.valkorgroup.com/news

You may recall I contacted the government dept regarding the £34 million grant for innovative clean maritime technology. They originally informed me that Quadrise could apply. I sent the email to quadrise and they replied that they could not apply as the 'project work had to be done in the UK'. i questioned this with the Govt dept and they said :

The question of project work being in the UK. We recognise that maritime is an international industry and the UK will have a part to play in it. However, we do expect to see some of the demonstration taking place in UK waters to show value for UK money. The assessors will be looking very closely value for UK money and will score accordingly. A vessel travelling from Europe to the US using UK money would need very very good justification and evidence that it’s benefiting the UK.

To my suprise they also mentioned the below which contradicted their original statement on bio fuels :

Firstly, the topic of biofuels. You state: “intend to start a trial using a biofuel with MSC Shipping”. Unfortunately we are not funding projects that are: “focusing on non-methanol biofuels, except for projects strictly focused on inland waterway vessels and Non-Road Mobile Machinery (NRMM), which includes port-side machinery”. So it appears that unless it’s methanol, this project will be out of scope of CMDC Round 4.

I asked why there would only be grants for methanol projects and they stated the below :

I have now had a response from our Innovation Lead and he has advised that the scope of the CMDC competition and UK SHORE programme overall has been discussed at length across government and with industry. It aligns with the aims set out in the Clean Maritime Plan and the major technology pathways within that strategy. The exclusions in the CMDC4 scope have therefore been decided at a strategic level.

In summary they are therefore saying the UK govt and industry believe methanol is the way forward for green fuels.

Many companies look at the total overheads divided by the No of employees as a KPI..We know QFI spend £230k per month (excluding any project costs) and I think we have 9 empoyees but lets call it 10. That is a staggering £23k per employee each month. Apart from wages the main other cost will be rent for a small office and a unit in Essex. Even if we said this was £30k per month (It will be way less) we still have a staggering £20k per employee. In my opinions this proves how funding is being mismanged by the company.. I expect one of these costs is the woman professor looking at this net zero fuel wher it would not suprise me if they are paying her £20k per month. As somebody posted on here they should suspend these costs until we have commercial income (If we ever do). The problem is our BOD seem rather deluded.

COSCO developing green methanol industrial chain :

https://splash247.com/cosco-developing-green-methanol-industrial-chain/

It seems Methanol is going to be the standard new green fuel.

Fyoz...you are only saying it is BS because it comes across as negative. These posts are facts and these posters have been here over 10 years and know exactly how QFI operate. There is no point stating each day 'this is going up like a rocket'

Wonga..anything they mention regarding South America i take as utter nonsence.Always has been and always will be IMHO.

What permits were Tomco waiting for ? I thought there would be drilling via Greenfield.

I think we will find they are taking the Michael.

Totally agree Wonga.

I recall Mark Whittle was leading the Morocco trial. It has been over two years since he left and the trial has still not been completed. Absolutely pathetic. The current management state they are working hard but what they are proving to us all is they lack in quality of work as nothing is being achieved.

We should be in the position where FOME is now. The big difference is that our managememt are incompetent.

Do they have the permits to drill ?

Do Tomco have the drill permits yet ? If not they won't be lent £1 let alone £100m .

I don't think anybody has a clue as qfi have delay after delay with continuous misleading comments to shareholders.

The silence from JM continues after he got his placing and open offer money and the SP continues to drop.Unbelievable.

You have hit the nail on the head Gribbler.

I would also like to ask JM whee the Hazop study results are that he stated on 15th June were imminent. He sure knows how to reduce the credibility of the BOD.

Totally agree Wonga. This time next year I will be surprised if the company exists. Whoever was behind the £1.1m placing must be well cheesed off.

What utter nonsence.

Only QED could put our an RNS stating the eartquake has not had an impact on the trial and in the same RNS state it is delayed for a further month. The trial fuels must of been in Morocco for over 6 months now.

We are due an IC call early October so JM will need bicycle clips galore.