Member Info for Rewhbe

Sorry to disagree with you but I think if you look carefully at the prices a lot of the "sells" are actually "buys". Look at the trading range not the posted spread. I actually think the balance may be in favour of "buys".

IMO the first customer will be Greenfield itself, using the initial MSAR as a replacement for the propane used for heating and also provide power for driving the plant.
It would also be an ideal reference site for prospective users to see it in use.

Salinger.
The brain is in the head.
Which at this moment seems to be in the sand.

Helpful.
Totally agree. There is no reason why the PQE FEED study should mention QFI, they have no relationship.
It is the Greenfield FEED study that was to include the test with the QFI MMU, dependent on the testing of suitable samples, which are yet to be sent.

Orslega,
Obvious now you mention it. I remembered the money for the licence but forgot the consideration included for the POSP work.

@Orslega
Thanks, can you point me to the reference. I am aware that Petroteq paid Valkor for the early work by shares in Petroteq. This helped them accumulate >14% of the company but I can't find where they have stated the current arrangement.

@Orslega,
Thanks.
While I can't find current information, I believe that Petroteq may be paying Valkor (not Greenfield) for the engineering worK.

Yes, they use it and run it but Petrotech own it and all IP. The news was regarding the updates to the plant owned by Petroteq, so in my opinion I am correct.

We heard it from Petroteq because it is the Petroteq plant. Tomco/Greenfield should not be reporting news of other companies progress first.
I expect that now Petroteq have updated the market Tomco/Greenfield will be able to report on additional information as it applies to them.

Wonga,
I don't agree. I think it refers to the 5000bpd plant that Petroteq are planning for Asphelt Ridge site not the 10000bpd train that Greenfield are planning for their new site. Petroteq have said they plan a 5000bpd train starting the build in '21 to come online in '22 with a further 5000bpd train to start building in '22. These are different to Greenfields.
Greenfield have used the Petroteq site to produce the FEED studies for both sites.

Vauch
If you check the original, you will find the above article dated 23rd March 2021, is a reprint of an article dated September 2019.
It is not a current status. The latest position is the Jan 27th video on face book-"Tomco Energy update on status of POSP. To my knowledge there has been no news since then. There was a news release from Petroteq also on 27/3 but it referred to the position as at the 22/3.

If you haven't seen it there is a video on facebook "Tomco energy update on status POSP" it is dated Jan 27th 2021. John Potter, Steve Byles and Cody Crawford give a good update on where they were and the issues they had, including clay particles. I can find no more recent updates other than QFI Chairman saying this month that they expected the samples by the end of this month. I would have expected him to have been kept up to date on progress. However, maybe they haven't and he is relying on old information too.

It's dated Sept 5 2019. It's an old update re-released.

Salinger,
Shame he can write then.

MMgames
The actuals are 3.79 buy, 3.57 sell.
You know this so please don't post misleading rubbish. Market makers always make a turn and this is about average for light trading.
The sell of 108 shares traded at the start of day was probably put in overnight and got the price accordingly.

I see from pictures of the POSP that there is a large Propane tank. I believe this must be used as the source fuel for heat in the process. While there are differences between Propane which is LPG and LNG. I think that should the trials for MSAR prove positive there may be a good cost case for replacing Propane with MSAR as the heating method. Being produced on site it should be cheaper and assist in reducing the production cost.

Jakito,
The Proactive video I referred to is, "Update on status of POSP operations" @ 3.40 mentions the work being done and clay is mentioned.
There is also a mention on the QFI update by Jason Miles on " Investor Meets Company" dated November 27th @ 11.10.
There are references on other BBs for QFI which I also follow.
You ask if it is a theory. I would describe it as my understanding of the current situation based on all I have read and seen on video from the companies involved.

Vauch,
Good question. The plan is for the Plant to produce fuel oil with only sand as the waste product. The current issue is that there are clay particles in the end product - from the video posted last month. From the presentations on the QFI Media site it appears that there were samples sent on two occasions towards the end of last year that were contaminated, I assume containing clay. The problem has to be resolved before there is a clean product produced as planned.
Primula,
It is worth understanding the inter-relationships between the companies and who is responsible for what.
AIUI - Petroteq own the IP rights for the process and own the plant. Valkor are improving the design and at the current time tuning to resolve the clay issue. Clay in oil is not new and there is an amount of experience in how to progress. Petroteq are paying Valkor for the work, as they own the IP. As they are short on cash, I believe that they pay in Petrotec shares. Valkor own at least 16% of Petroteq.
TomCo manage and operate the site. They have no design input into the work Valkor are doing for Petroteq, their interest is in how changes may affect the running of the plant.
Greenfield is a joint venture between Tomco and Valkor with the aim of using the petroteq process on a new site using 2 x Petroteq plants producing 5000 bopd each. Greenfield will be raising the money to build the plant.
Petroteq in their Investor Presentation dd Sept 2020 say they will also be raising the necessary money to build a 5000 plant in 2021 and a second in 2022, they would come online in 2022 and 2023 respectively. I think the first will be built alongside the existing plant and the second will replace it when the first is operational.
It is possible that the Petroteq site will be managed and operated by Greenfield.

The output from the plants will be bitumen, very dense oil which will need to be lightened to allow it's use for fuel. The intention is to trial the QFI MASR process when the clay problem is resolved. Initially at the current site and then to use at the new Greenfield site. QFI will take the heavy output from the Petroteq process and produce MASR which can be used for power generation, shipping and heating. There are currently trials underway in Morocco and further information can be found on the QFI Media site.

As I understand-
The commercial trial is part of the phase 2 work currently under way. The 60 ton industrial trail was originally scheduled to follow phase two but as there was a different facility available it was agreed to bring the work forward and do it at the same time. The industrial trial will de-risk the commercial trial and reduce the time to completion.

Colins,
Sorry for spelling