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It certainly reads to me as a veiled dig at MSC.

Customers are demanding it, Regulators are encouraging it. Shippers are doing as little as possible until the other two force them into change.

Hardly surprising. They hate change or anything disrupting their multi-billion dollar profits. The environment is at the very bottom of their agendas despite their rhetoric.

For the love of money is the root of all of evil.

Whiskyman01,

I did answer about the here and now.

What I would like them to do is be honest with shareholders instead of fobbing them off with made-up timescales which they have no clue about or no/little control over.

Instead of telling us in mid/end November, the agreement will be in December.

Instead of telling us 19th Feb and 3rd week March agreement will signed by March 31st and end Q1 at the latest.

Just be honest and say something along the lines of; we are dealing with huge potential partners who have their own complex and time-consuming procedures. As such, despite eagerness to proceed on all sides, we have no control or idea how long these negotiations will take and are unable to give timescales for final signature dates at this stage.

We will continue to do everything from our side to expedite the agreement and will update shareholders when reportable progress is made.

Much better than constant failure to meet self-imposed timescales and appear incompetent to say the least.

Whiskyman01

"Tragic from our perspective but what is the alternative, do tell?"

For a start, be honest! If they have no control over delays, say so rather than fobbing off shareholders with false promises time after time.

Additionally, going back over the last 10 years or so, why do we always seem to get involved with massive projects? Surely to goodness we could have found a more modest oil consumer, more locally, willing to try MSAR, proving the fuel and allowing us to make some modest income? Once tried, tested and in production, further smaller customers could have been sourced on positive results feedback. They could have gradually increased production and their portfolio of customers and THEN start dreaming of landing some big fish to take the company to where we are still trying to get now.

It's like trying to catch a whale with a 5ft fishing rod

Is it any wonder we have frustrated doubters?

From the "visit" report (MSC);

"In terms of timescales for the agreements & trials, Quadrise advised that agreements would need to be finalised by the end of March in order for the trials-related activity to commence in Q2. Based on that fuel supply to the trials vessel would be in late Q2/early Q3. Quadrise stated that they were expecting contracts by the end of Q1 at the latest."

Having intimated at the AGM, the agreement will be signed in December, they come up with another fob-off to those present on the visit, saying contracts end Q1 at the latest. This is not wishy washy timescales. "AT THE LATEST" should have meant, definitely sometime between 19th Feb, (visit date) and 31st March. Yet here we are over 6 weeks into Q2 and still nothing, a big fat zero!

Utter incompetence isn't strong enough a description of our BoD and it is little wonder the SP struggles to gain any traction, when the market knows fine well the corporate clowns at the helm, have, are and will continue to fail to deliver!

I think it's time Jason Miles (off) did some explaining. We are still waiting on his "December" agreement and his BS "Lawyers" fob-off does not cut it for me.

Personally, I think we've shot ourselves in the foot. I think MSC are no longer interested in MSAR's limited environmental benefits and are holding off this trial until BioMSAR and BioMSAR Zero are both available for trial on board.

Hopefully Valkor can get some much needed cash into QED and the mysterious Moroccan client, (who wants to remain secret about improving their environmental credentials - Ha!) can eventually, after countless years, come up with a commercial supply contract??

Looks like nothing happening H1 and I now doubt very much any MSC trial will commence this year!

DoN, I read the table on Si_Dermans hyperlink as correct. One well drilling, another approved and two pending approval. Having said that, I only read it this morning and may have been updated since your comment it was out of date?

Give it a rest MadDogMc. Talk about the needle being stuck!

The SP rises on positive news or a fresh dollop of oxcrement from JM and it falls on bad news or when self-imposed timescales are inevitably missed.

Moroccan client purportedly QED which is majority owned by Govt. If so, I'm sure there will be any number of jobsworths all wanting to justify their existence, causing procedural flowchart blockages.Or as is common in the country, the right palms are not being greased.

Conversely, it could be they are desperate to proceed but QED cannot find a site willing to produce such small quantities, hence the need for Site A trial and a greater volume contract for which a provider might be sought??

"According to the person that dumped 7.163 million shares yesterday evening it is not a time to buy...."

Or maybe they wanted to reduce risk or invest elsewhere? The FTSE100 is up over 10% in the last 3 months, (despite posters here suggesting UK not attracting investment).

"I think this refers to production at another oil field in California, same company but no connection with Utah."

All the more reason to contact Trio with a view to enhancing their end product and profitability from their wells/site?

2,100 Barrels @ $75, (net of transportation is not to be sniffed at, especially as it's just for starters!

It would appear Trio already have end users, or middle men at least, as the interviewee stated they had already sold their initial oil from this source.

Have/should QED contacted Trio Petroleum with the MSAR/BioMSAR offering or does Valkor have exclusivity in the area?

https://www.youtube.com/watch?v=H8d1HcAbFqU

I must admit, when I first read the RNS, my initial thoughts were similar to Vince, another distraction taking vital resources away from the push to commercialisation elsewhere on MSAR and BioMSAR.

However, having given it more thought, I think this is very good news. Not only do we get more news exposure as a potential supplier of the (holy grail) net zero carbon fuel but also, this trial is likely to be much smaller and more manageable for a company our size.

Very rich yacht people seldom get rich by investing in pre-commercials like QED and those that do, may feel like they've already hit the jackpot and be more likely to adopt a more conservative approach to protecting their wealth, rather than speculating to increase it substantially. That said, there could be the odd one of course, and given the pathetically low market value of QED, even small, (for them) speculative inflows could have a positive bearing on the SP.

The more people read the QED story and potential of the fuels on offer the better, so yes I think this is very good news indeed.

The SP could easily rebound as effectively the RNS told us nothing we already knew, i.e. the Q1 target for agreement signing has been missed, duuuh!

Hardly earth-shattering news and I wonder why they felt the need to RNS it as there have been many, many other project delays over the years where we have had to sit in the news vacuum for months.

I now expect the usual apologists saying "complain when there's no updates, then complain when we get one".

Apart from what looks like one seller running for the hills, this has not caused a frenzy of trading and the SP remains relatively unscathed.

SP holding up better today, it would appear yesterday's minor sell-off is running out of steam??

I did expect a bit of a sell-off as people who supported the raise but did not want to increase their exposure, take some minor profits from buying from the company @ 1.25p and sell into the general market @ 1.75p or thereabouts.

Don't expect any major downward move and hopefully SP ticks up again once buyers outstrip selling demand. Further positive RNS releases will obviously help too!

I wonder what process will be involved to "treat" the raw oil, in order for it to be suitable to go to QRF for testing? How complex will the "treatment" be and how long it will take?

Another good day for the SP and just what I hoped for post-fundraise, steady growth on minor news snippets. Hopefully this will continue to 2.5-3p before the big news drop re. MSC/Cargil/QED agreement, which could hopefully see a 100%+ increase, taking us to 4-6p range. Everything crossed it's onwards and upwards from here and the OO does indeed signify the last chance to buy-in at 1.25p or lower!

Yes, plenty positives in the interview and nice to see the SP continue its upward movement this morning.

I'm a bit disappointed with Morocco though. Sounds like commercial supply negotiations have not even began and further, larger trials prioritised.

As has been said before, it might even be a left-field project which provides us with our first commercial supply agreement??