Member Info for WongaFC

@Crownos, I didn't realise HSO were wholly owned by Valkor. I thought it was an independent company set up by Steve Byle after he left Valkor? The RNS calls them a "project partner" rather than a subsidiary??

My understanding of Valkor's role in numerous Utah projects, is to supply the engineering expertise, rather than producing and selling bitumen/oil/MSAR/BioMSAR or any other commodity???

Do they have land leases of their own to exploit?

I'm not sceptical regarding the possible success of the Utah project. It's the timescales given, (by QED or Valkor?) appear to me to be very optimistic to say the least. I guess I've had enough of missed deadlines to do me a lifetime.

Also, as havealot intimated, marketing is not selling. We've been "marketing" this stuff for years without success. Hopefully, this will be different and with our Utah partners we can get to actual sales without too much delay.

Also hope this is just one of a series of good news RNSs to come our way in the coming weeks/months. I would also like to see some upward trending prior to the big "re-rating" tri-partite announcement due imminently.

From the RNS;

"The Company understands that Valkor intends to commence drilling of the initial oil well at the Asphalt Ridge in Utah next week, with completion before the end of April. This oil well is expected to yield between 20 and 40 barrels per day of heavy sweet oil. Samples from the first well will be treated to remove impurities and then sent to Quadrise for conversion to MSAR® and bioMSAR™ and for testing. Commercial marketing to the marine, utilities and industrial sectors is expected to commence before the end of Q2 2024 once samples have been received and tested at QRF."

Not wanting to (p) on anyone's bonfire but here we go again. "The company understands", wells drilled next week and completed week after. Oil to be sent to QED for conversion to MSAR & BioMSAR before testing. AND this MSAR BioMSAR is going to be commercially marketed by end June. What could possibly go wrong?

For a start, IIRC, the last oil samples from Utah took over 3 months to reach the QED facility. Anyone else think the Company's understanding of timescales may be a tad optimistic once more? Looks like the market is taking the news with a Jason Miles sized dollop of salt! Understandable....

Strangely, nothing doing OO'wise on HL. Wonder why they're dragging their heels?

I concur Barkingcrazy. Although I think it will be oversubscribed by OO holders.

I would not be surprised to see the SP rise to near 2p by close tomorrow as the good news on funding percolates and those who do not receive all the shares applied for. potentially buy on the open market while the SP is sub 2p.

There will of course be some element of selling by those who did not want to increase their holding but support the OO. They could easily sell their "excess" back into the market to return to their desired holding.

Are we due an RNS tomorrow with details of the OO results?

I doubt very much it's QED "holding back news", more likely it's our two juggernaut partners telling us what we can say and when we can say it. While they are privately owned and with less stringent reporting requirements, they will be calling the shots. Just like a supposed 3-4 month delay is down to lawyers - yeah right!

I can't get the image out of my head of two super sized oil tankers manoeuvring for position in a small sea inlet, with a tiny rubber dinghy in between them trying not to get crushed as they position themselves.

Whether the fund raise is holding up final signatures is anyone's guess. However, for me, this funding shortfall was the elephant in the room which IMO held back the SP since the AGM.

Once this is sorted, I expect things to improve steadily, with the potential for serious gains should positive RNS flows follow. I believe this is the last chance to buy in at these low prices, unless of course bad news manifests. Hopefully the end of the dark days and we can all look forward to a brighter future.

Let's hope so AKHM, I'm very confident the OO will be fully subscribed as we appear to be in a much more positive position than the last raise.

I said the same last raise but feel far more positive this time and have joined in

With the OO due to close next week, will this fundraise be the "last chance saloon" for QED to make it commercially? or

Is this the "last chance saloon" to cheaply buy into a fantastic success story, revolutionising shipping and other industrial fuel usage?

Could be both of course.....

I wonder if any progress has been made on anything but cannot be RNS'd until after OO closes?

Nice to see the SP edging above the OO price. Hopefully get the OO funding sorted with hopefully a snippet of positive news to follow and get back to nearer 2.5-3.5p sharpish.

He's already missed his "December" target by a quarter, what's another quarter when it comes to Quadrise. Take what JM says re. schedules with a pinch of salt.

Yes, looks like someone has taken an ISA'ful.

I won't be surprised if this agreement takes until end Q2 or beyond to get sorted. Any earlier announcement will be a very welcome surprise for me.

Thanks for the much more detailed explanation. Such a shame this solution has not been used by PEMEX who have had a historical glut of heavy viscose residues, to the extent the basically had to massively reduce refining, instead sending their crude to the US and buying back the diesel.

Even if they had used MSAR in one of their smaller refineries it could have been a game changer for us as a company. Makes you wonder why the agent (Redliner?) couldn't convince them to implement our perfect solution to their problem. Probably not greasing the right palms....

"What, specifically, is refinery refuelling as it relates to MSAR?"

My understanding is, once the refinery has produced all the expensive products from crude, it is left with the heavy residues. In order to utilise these they have to use diesel to "thin" the residue into a usable product. Using the MSAR process there is no need to use the expensive diesel saving the refinery money. Also the MSAR produced can be used to power the refining processes making a further saving??

I'm not holding my breath. Wouldn't surprise me one bit if agreements still not signed by end May. The "lawyers" excuse is simply that, an excuse. If these giants were seriously prioritising the trials, they would have started by now.

Sincerely hope to be proved wrong but cynicism has proved to be the correct approach when considering QED timelines.

Agreed! When you approach it from this angle, a potentially huge global opportunity driven by 2 (privately owned) leviathans of industry and the only way you can get involved is to invest in little old Quadrise. If all goes well, the potential upside from here is enormous!