Member Info for sn88

MadDog - the IR response seems to imply that they've already written off March for getting the signatures then?

It starts to lose its meaning when it's a repeated trope, though. Peter said it in November too. Taking Peter at his word, you also have to do some mental gymnastics to have to completely ignore the company messaging before PB arrival on the status/progress of agreements.

FOMO only works when there's palpable sense of missing out though. Q4 is still some time away

Tuckman, if we're needing consultants (appreciate that they provide specialisms) to unlock MSC, what is staff time consuming for our 15+ permanent staff at c£300k a month?

Tuckman, we are not reliant on on MSC to jump start our SP. We are not and we shouldn't be. We have a staff of 15+, if they're all going into the office and sitting around all day waiting for MSC to return our calls in the same mindset as you then we've all been royally had.

Utah, Panama, Morocco + other shippers + other markets that can provide revenue and a future without the unicorn that could be MSC. The world is our oyster whilst we continue to employ more staff, yet I suggest that the staff are all happy taking our millions and then saying MSC are being too mean so we need some more money to sit on our backsides for another year incase they call us back - I imagine if we all had that opportunity professionally, we'd all take it!

My concern with QED, and exacerbated by some on here make this out to be the most complex business deal to have ever been imagined.

It's ultimately tri-party proof of concept (&extended operational) trial in 1 ship - happy to be told I'm wrong but I don't believe QED have stated it's to include for commercial agreement post trial (so to not stop/re-start the negotiations).

All parties will have shared their heads of terms/terms of engagement prior to contract negotiation so, all parties will be aware of what can be agreed swiftly / needs to be negotiated. It simply shouldn't take 5 years. Even giving JM/AM the benefit of the doubt with their statements in RNSs in Nov '24, it shouldn't take a further 16 months to conclude (when there's literally nothing else happening at the company).

PB stated at the AGM that he's got 2 full time staff on concluding - we're nearly at 1,000 hours since the AGM for those 2 staff members.

Yorkie, at least it's only be a few weeks until we get the interims and they us (without a hint of irony) that they've got their best guys on the task of getting MSC over the line. They've agreed with Valkor to redistribute funds into Q4 2026 and both Panama & Morocco are in a holding pattern until further notice.

Clearly states in the RNS regarding drilling programme: the parties have, inter alia, the right to drill and a right of first refusal to participate in any wells drilled by the other party on the Lease Area (covering both the currently permitted six wells and any future wells) with potential drilling operations currently targeted to commence once Valkor's aforementioned oil drilling methodology has been optimised.

Over 40million barrels of oil on the Greenfield lease and a MC of <£6m at conversion price with the new share count of 5.7bn.. I think they'll make some money on it

Byle on the board is a huge boon; there's a future here now which, without Potter looked impossible. As LeeRex has said, 50% of something is better than 100% of nothing. We know Valkor are pressing ahead with their plant construction to be live Q2 this year and look to be cracking oil extraction with use of Cavitas downhole. Hopefully once they've got it sorted on their land, it'll be copy and paste on the Greenfield lease

For those unaware, Byle is the owner of Valkor (HSO), Greenfield (via Tomco) have the lease adjoining Valkors in Utah

For those interested in that kind of thing, a 1 share trade at 16:29:55...

Orns, the Q&A has been available for 3 weeks. Whatever the motivation of more buying, it's helped by someone not offloading 500k chunks today

On the down slope into Q2 which means c.5 weeks until Interim update / confirmation of receipt of $350k from Valkor / maybe even MSC sign off & another shipper. It's even stopped raining, happy Friday all

Valkor (Heavy Sweet) don't currently have any pending or approved permits. I don't see how anything happens there before the end of Q2 this year - being cognizant of the fact we only get the $1m on procurement and delivery of the MMUs ($0.3m due 31/03/26 + $0.65m on 30/06/26). Meaning $0.075m quarterly fee from 01/07/26 will also get impacted.

They have 2nr wells (HSO 2-4 / 8-4) shut in as of Jan-25 and will require re-approval by Utah DOGM for change of extraction methodology (pending confirmation of Cavitas downhole heating).

This will surely have an impact on the future requirement for fundraising as QED will be shy of $1m to end-Q2 vs. previous forecasts stated at IMC + AGM last year (appreciate MMU procurement/liability also shifted)

The one AC Oil permit approved by Utah DOGM expires on Saturday...

We can't even get an AGM, Bear

Why do you keep deliberately removing the end of my comment 'at this time'? You're purposely ignoring the context to seed discontent

I don't really see what that is meant to disprove from what I've said, Stocky. Why don't we just agree to let the RNS's do the talking.

I said 'concluded that no other shipping companies are willing to sign up for a trial at this time.'

Are you being intentionally dense?

I will say in support that I'm of the belief that once (/if) MSC gets across the line, then there will be no short supply of others wanting a piece of what QED can offer with a boilerplate agreement of the MSC wording. As always, the first one is the most difficult.