Member Info for Tobythedog

Dust

In your notes of the AGM towards the end you state "Confirmed that for MAN only 2S has been approved at present". and also state "Excellent relationship with MAN and Wartsila. Claimed they will generally have no problem with customers using MSAR and are very supportive. To paraphrase, customers can get on the phone to the engine companies and get a positive response".

Can you please expand on this as I was not aware that MAN had "approved" MSAR for use in their 2 stroke units. To be clear are MAN indicating that the POC and partial LONO test (buoygate) undertaken by Maersk is sufficient and that no further testing is required. Are Wartsila also in agreement that no further testing is required? So will they both issue LONO's?

I do hope you can confirm all the above.

Dustofnations

Excellent piece of work that must have taken many hours to pull together. Well done, much appreciated.

From what I recall - and please correct me if I'm wrong but QFI have something like £70M in accumulated tax losses and so any prospective buyer will not wait till the company goes bust (and lose the benefit of the tax losses) but will want to buy it before this point is reached.

seeingtom If the refining partner is in country and part owned by Saudi that is a bigger commitment than purchasing from a 3rd party (Cepsa) who is outside. "Tens of millions of dollar" was in my view a bit of a throw-away comment and could as you say have been in tangible assets (i e MMU's,piping etc) or could be intangibles i.e. design, planning, project feasability, scoping etc. Tangibles clearly showing much more commitment by SA.

MK & JM would not confirm identity or location of the refinery however it did appear reading between the lines that it is CEPSA. Cash burn is �225K pcm and as at 31/12/17 they had �3.5M so 9+ months they will need a cash injection. If trial goes ahead QFI will receive revenue from oil company. QFI maintain they do not know what the issue is between the oil and electricity companies but it is not technical. QFI continue to lobby and visit SA in effort to resolve the matter. Seemed to be a slight softening and a bit of hope re timescales announced. Like BarkingCrazy I won't be buying or selling. It's on a knife edge, but overall I'm still hopeful as brinkmanship is involved with the counterparties and the prize for SA is a likely saving of approx. $5 billion over 10 years with MSAR

I admit it I'm confused by reading so much claim and counter claim on here and over on ADVFN. My question is where is the refinery that is/was to supply the MSAR for this trial in KSA? Is it in KSA and being shipped up the coast to the power station as we were led to believe or is/has it to be fast tracked from the CEPSA. Views please.

hughjampton Have just read all about the job over on ADVFN so ignore my request. A replacement secretary @�25K pa hardly seems likely to have caused any firming of SP.

hughjampton What's this about a job advert? For what? Where? Can you post a copy?

Noosking For what it's worth I agree and am in a very similar position and thought process to you, only difference I have is that for me end of March is a line in the sand. QFI will almost certainly run out of cash by year end without funding which I consider they are unlikely to get from either shareholders or bond issue.

hughjampton Sadly not!

The Orns I accept all you say and that's why I'm still invested, plus of course I believe in the technology, however that does not excuse the consistent and seemingly regular failure to deliver, over-promise and under deliver attitude of the BOD. One more instance of which will see me totally disillusioned with MK.

enlli The difference is very important to me - it's about integrity, failure to deliver and honesty with share holders. Twice now (and some would argue a lot more than that) QFI have given us self-imposed dates when contracts would be signed. If they miss this end of month date I for one would look for resignation by MK. As a shareholder how can I trust what I'm being told if they regularly over-promise and under deliver. I appreciate the BOD are likely under a great deal of pressure but that what they are paid for. They are not paid to tell me and every other shareholder sign/delivery dates which they fail to fulfill.

HughJ What a magnificent thought but a step too far methinks.

The Orns It had three large sells for 950,000, 1,000,000 and from memory 1,600,000 and an imbalance of sells to buys of about 3:1

garymbrock Keeping my fingers crossed but I'm now very worried. Level 2 shows several big sellers in the wings. Do they know something? Looks to me that Monday will be a big day for good or bad!

I put in a dummy sell in last few mins. for 50,000 and was offered 11.9001

Streibs Sorry we are going to have to disagree your response is all about motor vehicle power.

Striebs Very interesting rant but of no relevance to either Saudi Strategy or QFI. So why here?

Tony123 & The Orns Thanks for pointing me in the right direction on this aspect. Yes I'm a member of the forum but only dip in occasionally. There is such a huge amount of information it is sometimes difficult to see the wood for the trees. I do wish the BOD would learn the lesson not to over promise then fail to deliver on time; and not for the first time! Still good to see the SP back-up to where it was before the delay announcement so hopefully won't have to wait much longer. As Delboy said "this time next year Rodders we will be millionaires"!

I've read so much vindictive tripe on the ADVFN BB that I've now lost the place and am looking for some help. Do we know for certain where the MSAR is being produced for this trial burn? Is it in a KSA refinery, CEPSA in Gib, or indeed is it elsewhere. Given the standard of rubbish written especially on the ADVFN website could quote the source for your answer. Thanks in anticipation. FYI I'm a long suffering holder with a bigger holding than is prudent!.