Member Info for Willswag

Gosh someone’s working hard to put negativity on top of this rise 😰

I’m wondering if the Lafayette ipo has not completed and a private individual or group has come in with the $15m?

It should have closed by 4th August

Lots has been said about the $$1m, $14m funding the pilots and the post 100bbls future drill programme.

Maybe they will wait and go again in more favourable circumstances?

Trio have negotiated a month or so on taking up their next 17.5% of the exploration rights on the acreage?

It seems to be a quite mobile situation

Indeed

How dare the markets upset Wonga’s downward gamble? 🤣

Indeed

Well respected oiler is Valkor

I’m guessing that once Lafayette get their IPO off and Their regulatory news items start to flow. There should be lots to report now. Drill core reports

Oil in place reports etc and of course the all important first 100 barrels milestone. This should all stimulate a sleeping US market. 😁

This new video interview with Jason is incredibly informative and ‘news rich’ without going beyond what we think we know already.

So much going on and the fact that he mentions the work under way now with ‘other shipping companies’ potential suppliers and refiners across the world to support fuel hubs for MSAR and BioMSAR for both MSC and OCP tells me that these projects are expected to become commercially successful in near to mid term.

This SP is ridiculously cheap 😊

So listening to Jason again he discusses an upgrade done by Valkor at the well head that will allow them to extract diesel leaving us an ultra heavy bitumen to process (which suits us).

Google tells me that 10-25% of a 42 gallon barrel of heavy oil will be relatively easily accessible as diesel so let’s say 10%. That means that about 4.2 gallons of diesel can be extracted and sold as such at the well head. The remaining 37.8 gallons of ultra heavy oil (which suits us) can then be processed into a synthetic MSAR or BioMSAR for heating, power generation or marine use.

Even better economics for HSO/Valkor and, because we have a percentage interest in the synthetic fuels great for our economics too!

Happy days more bang for buck and power to our joint fuel marketing elbow

We don’t know who the investor is by the way

It’s not Trio Petrolium they paid for a share of the licence area and will take part in the drilling and production of the unitized plan, but they are not ‘The Investor’

46G

The $14m brings the investor total investment to $15m it is our milestone for releasing the $1m and later $0.5m to QED

If you recall the investor released the initial $1m to fund the pilot drills. 3 or 4 became just 2 this was explained during Q&A at the Utah DOGM meeting last week.

Anyway, HSO gained Unitization, 100 barrels of viable oil gets them the $14m further investment and that triggers our initial $1m

And yes Jason is starting to look highly confident

Happy days 😊

Expeditiously re NSC agreements

Now there’s a word!

I like Utah

I have thought for a long time it might have potential to be first commercial project for us too.

But. It’s not a done deal.

The partners still have to get the oil out of the ground in the volume to satisfy the investor. Who still has to cough-up the cash. With what caveats? Lafayette IPO could be a dud or change priorities?

There’s still a few hurdles to jump yet.

Morocco could easily be first, I hope it is because if Utah can be quick, Morocco can be even quicker. Well we’re both rich men quicker than we thought eh? 😊

MSC gets a riddle on and we can have the £1 party in Spring next year. I’m unconvinced about it being at 46G though?!

Everything planned and project managed splendidly please QED 👍

"Forget the snails 🐌 of MSC and Morocco"

I disagree tuckman and fyoz

We need every project to develop. One or more of them needs to get to commercialisation.

I care not which but having them all reaching milestones is beneficial and gives us a better chance of success.

Be better for the sp too if we can get multiple projects proving up and closing on commerciality 👍

Crownos

During the Division questions to key witnesses at about 19:50 BST the Financial witness stated in answer to ‘risks of it failing’ $30 oil price would be a stopper. And just after in answer to ‘funding from pilot into production’ our investor has a precondition of 100 barrels of oil from pilot drills and at that point will release $14m you know, the balance, for unitisation capex.

I’m saying that’s our $15m milestone, $1m for drilling and proving pilots and the further $14m at that milestone. Happy days 😊

And we’re still in Lafayette IPO at WTI+$15

You can’t get that price without well-head refining into a premium fuel product

On we go

Only 100 barrels of production before the project gets its $15m and we see if we are really important to this project 😊

Bring it on

Of course the project has to be viable on bitumen as there is no way our kit can be on site for starters

The financials did state that risk is oil prices going below $30

That’s always been the killer in Utah

100 barrels of oil and there’s dollars 14m waiting for them if they get this unitisation with a ‘z’ 👏😊

They’re going to lunch to ‘deliberate’ but technically and environmentally they have gotten the nod

I think it’s a formality when they reconvene in 45 mins 👍

Maybe we need their ship? 😊

The beauty about Utah for me is it’s simplicity

HSO pump out the bitumen, separate it from sand and water and we process the stuff into MSAR at the well head.

No transportation nightmare and no refinery required.

The great Uinta basin will open up like Pandora’s box when this gets going

Massive 😊

Come on HSO

Let’s have something today that really gets this party started 👏👍

Thanks Kolonik

This bit

This May we drilled our first two wells and verified 190 feet of pay zone with ~80% oil saturated sand. We heat tested the cores which showed that the bitumen easily separated from the sand at less than 200 degrees and subsequent downhole-heating has produced oil. We have set up above ground facilities, have negotiated an off-take sales agreement expected to be at WTI + $15, and will be turning on the down-hole heaters this next week in order to begin commercial production.

So have we been sent samples? the customer(s) are lined up and they are going back in to turn on production

Happy days 😊