Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
Agreed, Valkor will want to crack on - not least they have financial commitments from today:
"In addition, Valkor has entered into a new lease, effective from 1 July 2020 and for a term of 12 months, with the landlord of the POSP site, which will allow Valkor access to the land to be able to operate the POSP to undertake the necessary upgrades and tests as well as to mine for feedstock for the POSP. Pursuant to the lease, in addition to a monthly rent, the landlord will be entitled to certain royalty payments in respect of any commercial produce from the POSP and/or associated operations"
Petroteq will want paying also for licensing their technology in the process - so imo the JV will need pay. That points to a placing - fingers crossed they don't balls it up again. Petroteq have said nothing at all to their shareholders about any of these plans - the reason is that until the financials are in place properly there is nothing to say. Just my view but it is logically.
anybody interested : Petroteq founder invested a further $1M just a year ago at $0.45 - that's 10 times the share price today (all time low)
https://petroteq.energy/news/press-releases/detail/310/petroteq-energy-announces-investment-by-chairman
Multi-bagger indeed from here, imo
Agreed fadec - Petroteq is the last to see any share price movement - neither Tomco or Quadrise can do what they are planning without Petroteq tech. That says one thing to me.
As you say PQE is at all time low so I am expecting a hard bounce - Petroteq has been waiting for the latest clarifications on erroneous Tomco RNS re IP. I expect news this week now that has been sorted. Let's see.
See Tomco placing has been pulled - not sure where that leaves testing at Petroteq plant in Utah
The technology is brilliant - it is acknowledged as a world first and entirely environmentally friendly - the IP is heavily patented, worldwide. It has taken many years to get to this point they have spent near on $80-90M getting to where they are today. The founder has invested over $10M himself.
The issue has been to get consistent production which will open the doors to further Licensing - they were nearly there but Covid19 came along, oil prices collapsed - the plant is currently not in operation. But will be soon. The interesting point about bunker fuel is that it commands $20 premium per barrel to WTI - so even when WTI low given ten cost base, plenty of $ to be made. Even more so as no refinery needs to be involved, cutting out the middleman.
This oil extraction process is unlike any conventional drilling and pretty much risk free - eg there are no well issues, the supply is simply there, quantified and waiting to dug up and put on the escalator. Job done.
I only got introduced late last year will be happy when they turn the corner but unfortunately their share price, like many oilers is at rock bottom right now. Fingers crossed that Valkor can get things back on track - Steve Byle (CEO Valkor) has a brilliant track record and one to follow). Happy to watch it play out.
It trades on both Canadian and US markets - you can buy through most UK brokers, fully ISA et al
Hi - I am a Petroteq investor - you guys maybe interested in the last video presentation released by Petroteq - gives some insight to the production process and where they are heading, obviously MSAR being an add on : )
Only 4 mins - worth a view, will help to understand.
https://www.youtube.com/watch?v=gdDb22i2Dz8
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")
Further Statement re MSAR® Licensing and Upstream Trial
Further to the Company's announcement of 17 June 2020 relating to the announcement made by TomCo Energy plc ("TomCo") that morning, Quadrise provides the following update pursuant to discussions between the Company and Valkor Technologies LLC ("Valkor") and concerning:
· a commercial trial of MSAR® technology at a test plant to process up to 500 barrels of heavy crude oil per day on the Petroteq Energy Inc's site in Utah, USA which is managed by Valkor ("Phase 1"); and
· the development of commercial MSAR® plants of up to 10,000 barrels oil per day ("Phase 2").
As announced on 17 June 2020, both the Company and Valkor continue to believe that the use of MSAR® technology can add significant value to the development of heavy and paraffinic oil deposits in Utah. Quadrise confirms that it has agreed in principle to the deployment of MSAR® trial equipment for Phase 1 at a price of up to US$150,000. Additionally, Quadrise will continue to work in good faith to finalise the process design and trial agreement for Phase 1 with Valkor, including the terms of the scope and timing of the trial.
In parallel with Phase 1, Quadrise and Valkor will continue to cooperate in good faith to agree the commercial terms of a conditional MSAR® licence and commercial supply agreement for the production of MSAR® fuel under Phase 2. QFI has agreed with Valkor that any licence ultimately granted to Valkor under the terms of the memorandum of understanding will be limited to the deployment of MSAR® technology in Utah, USA in connection with the processing of sweet heavy or paraffinic crude oil and will be capable of being assigned to Valkor group joint ventures in the future.
A conditional licence will only be finalised upon, and following, inter alia, satisfactory results of the Phase 1 testing, the agreement between the parties as to Phase 2 commercial terms and the entry of binding agreements.
Further announcements will be made, as appropriate, in due course.
Mike Kirk, Chairman, QFI said:
"We look forward to continuing our discussions with Valkor and to progressing the trial in Utah with Valkor and their partners, including TomCo, to demonstrate the effectiveness of our technology in enabling the sweet heavy or paraffinic oil deposits there, and the subsequent commercial development."
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")
Further Statement re MSAR® Licensing and Upstream Trial
Further to the Company's announcement of 17 June 2020 relating to the announcement made by TomCo Energy plc ("TomCo") that morning, Quadrise provides the following update pursuant to discussions between the Company and Valkor Technologies LLC ("Valkor") and concerning:
· a commercial trial of MSAR® technology at a test plant to process up to 500 barrels of heavy crude oil per day on the Petroteq Energy Inc's site in Utah, USA which is managed by Valkor ("Phase 1"); and
· the development of commercial MSAR® plants of up to 10,000 barrels oil per day ("Phase 2").
As announced on 17 June 2020, both the Company and Valkor continue to believe that the use of MSAR® technology can add significant value to the development of heavy and paraffinic oil deposits in Utah. Quadrise confirms that it has agreed in principle to the deployment of MSAR® trial equipment for Phase 1 at a price of up to US$150,000. Additionally, Quadrise will continue to work in good faith to finalise the process design and trial agreement for Phase 1 with Valkor, including the terms of the scope and timing of the trial.
In parallel with Phase 1, Quadrise and Valkor will continue to cooperate in good faith to agree the commercial terms of a conditional MSAR® licence and commercial supply agreement for the production of MSAR® fuel under Phase 2. QFI has agreed with Valkor that any licence ultimately granted to Valkor under the terms of the memorandum of understanding will be limited to the deployment of MSAR® technology in Utah, USA in connection with the processing of sweet heavy or paraffinic crude oil and will be capable of being assigned to Valkor group joint ventures in the future.
A conditional licence will only be finalised upon, and following, inter alia, satisfactory results of the Phase 1 testing, the agreement between the parties as to Phase 2 commercial terms and the entry of binding agreements.
Further announcements will be made, as appropriate, in due course.
Mike Kirk, Chairman, QFI said:
"We look forward to continuing our discussions with Valkor and to progressing the trial in Utah with Valkor and their partners, including TomCo, to demonstrate the effectiveness of our technology in enabling the sweet heavy or paraffinic oil deposits there, and the subsequent commercial development."
Turbo shale is on the back burner. - see below from RNS.
This is all now about Valkor and Petroteq technology right now. The question which remains unanswered - and the market is waiting to hear - is what were the results of those Valkor tests and will the JV go ahead? The Tomco acreage Valkor has been testing is adjacent to Petroteq field (which are commercial) so imo we should hear some good news hear very soon. Note Petroteq are planning to sell their product as Bunker fuel to the Shipping industry - which was heavily regulated in January 2020 - so only ultra low oil can now be used for Shipping. Important bit, bunker fuel commands a $20 per barrel premium to WTI. So selling price expected to be around $60 per barrel. I expect Tomco will follow suit if the results are good.
TurboShale Update
With the global effects of the COVID-19 virus still developing, the Company has taken the decision to postpone the next test of the Turboshale RF technology. The Company will continue to explore its potential with laboratory based testing until a field test can be planned.
I was invested here many years ago but bailed out at small loss after very slow progress, false dawns etc.
I have since invested in a US company called Petroteq Energy - (PQE) = listed on TMX (Canada) and Pink Sheets (US) - they have developed a patented low cost extraction process for production of heavy oil from Utah sands - with very low suphur content -so ideal for new IMO2020 diesel shipping environment.
https://petroteq.energy
I also see in QFI 6 monthly report issued 30/3/2020:
" An MoU has been signed with Valkor Technologies, to investigate the potential deployment of MSAR® technology in Utah, USA."
Valkor are heavily involved with Petroteq in Utah having signed a Licence Agreement. I expect the above comment involves Petroteq. No one else has the technology to do extract oil from oil sands.
Small world. Fingers crossed QFI can get things moving with the help of Valkor.
Anyone interested take a look at the Petroteq process - a world first:
https://www.youtube.com/watch?v=gdDb22i2Dz8
Petroteq - imo there is no chance Valkor will take over Petroteq - well not unless Valkor make a massive move with big bucks. So very unlikely, certainly in this climate. Valkor will continue do deals like the one with Tomco and line up Petroteq with a licence. They have other interests in oil sands worldwide. Rinse repeat with other parties.
The PQE plant is open - not for commercial production but to demonstrate the technology to multiple parties doing due diligence: the big investment bucks for PQE investors are the licence fee - like the $2M Valkor has already signed up for - so important to keep that process running.
RNS 27/3/2020
"The Company has chosen to cut hours at the plant to reduce costs in a tumultuous ?market. Management believes it is important to keep the plant operating to continue ?production, especially to demonstrate operations to the multiple parties currently ?completing due diligence on Petroteq as part of the technology licensing process.
Petroteq is scaling back to a skeleton crew and intends to store production in ?anticipation of selling product into a rebounding market in the future".
https://ir.petroteq.energy/press-releases/detail/346/petroteq-downscales-production-citing-market-conditions
See the share price of PQE has nearly doubled this past week (although still at pretty much all time lows); the DD must be going well, lol
https://ir.petroteq.energy/press-releases/detail/346
Well PQE are still operating - very interesting comment about multiple parties looking at the tech, not just Tomco:
" Management believes it is important to keep the plant operating to continue production, especially to demonstrate operations to the multiple parties currently completing due diligence on Petroteq as part of the technology licensing process."
https://ir.petroteq.energy/press-releases/detail/346
Well PQE still operating - very interesting comment about multiple parties looking at the tech:one day rodders
" Management believes it is important to keep the plant operating to continue production, especially to demonstrate operations to the multiple parties currently completing due diligence on Petroteq as part of the technology licensing process."
Valkor has already signed their first Licensing Agreement with Petroteq last year: see this below, gives an idea of likely costs involved for the JV if the study produces the desired results
"Under the Agreement, Valkor has agreed to pay Petroteq a non-refundable license fee of US$2 million per Plant in two payments, with 50% payable upon start of construction of a Plant and 50% payable upon first production of such Plant. Valkor also agreed to invest (or secure investment) of a minimum US$20 million towards the construction of a Plant by December 2020, and to have in production a minimum of 1,000 barrels per day. The agreement further provides that Valkor will pay Petroteq a five percent (5%) royalty based on annual gross sales, excluding solvent and or water, for so long as licensed technology is covered by a valid claim in the country in which it is used.
“Technology advancement in unlocking the enormous deposits of global oil reserves has been our focus in achieving energy independence and economic expansion,” stated CEO David Sealock, “and Petroteq’s CORT (Clean Oil Recovery Technology) is a primary key to develop the tremendous surface mineable oil sands resources in the USA and internationally. Petroteq’s technology has the potential to open these resources to new development opportunities and with this should come tremendous value potential.”
“In working with Petroteq for the past year at its Asphalt Ridge facility in Utah, it is clear that the Petroteq technology is unique and highly effective. It fits our long term strategy extremely well,” stated Steve Byle, CEO of Valkor. “As Valkor is a solutions company offering a range of services and products to the energy industries we are pleased to be offering the Petroteq technology in a project based platform.”
https://ir.petroteq.energy/press-releases/detail/319/petroteq-announces-technology-licensing-agreement
Maybe but I doubt it - they have made to quite clear that after the technique is commercially proven the business model is to sell Licences and take royalties - think about, it zero costs, zero risk. That's the investor attraction. imo
eg
“While our primary focus is on completing the Asphalt Ridge facility maintenance program and planned equipment modifications to the sand separation process, fluid extraction process, and the clean sand production process, this month,” stated CEO David Sealock, “we are pleased with the advancements in potential future technology licensing opportunities for Petroteq’s CORT for QEM’s Julia Creek project and the additional Asian sands project. Petroteq’s CTO Dr. Vladimir Podlipskiy’s hard work and testing has been extremely valuable for Petroteq and the results help to quantify the technical advantages of Petroteq’s proprietary oil extraction solvent technology.”