Member Info for WongaFC

While this latest award is really neither here or there in the grand scheme of things, the timing and metrics are a real kick in the teeth to long-suffering investors. Having the gall to make any "performance" awards, when the optics reflect next to no progress in the last 12 months, (bar one new initial trial - Sparkle), reeks of an aloof, self-serving leadership, sticking their snouts further into the trough.

Pathetic!

"Call me greedy, but nobody can say that all this cannot be completed over the 12 weeks."

Wrong! I'll say it Stockramp.

We'll be lucky if one of your Santa wish list is achieved this year.

"And im not really interested in Peters incredulity....hes just in the door and has done nothing yet, he can big it up if he delivers but remember who got us here!"

Here? Where? Well over a decade of experiments, trials and jam tomorrow promises but no commercial success.

Yes the new guy needs to step up to the plate and prove his worth but I don't think trundling along at snail's pace, under the leadership of AM/JM was going to get us anywhere. Let's see what the next 6-12 months delivers, more of the same certainly isn't a viable option.

Question 1. What is holding up the MSC trial start?

Answer; The trial is expected to start imminently.

Q2-99

Answer; See answer 1

Things will eventually settle down but the initial look of a 870% rise might send a shedload of new investors our way?

Depending on the design of Valor's proposed "oil sands plant", they could be stuck in legal battles for months/years, making the Hoodoo intervention seem miniscule.

Valkor operated Petroteq's CORT technology, making adjustments along the way to proving the viability of a 500bpd oil sands plant. As part of this agreement, any modifications remained the property of Petroteq and if their proposed new plant bears any resemblance to CORT, I'm sure Petroteq will have something to say about it.

Knowing how much Americans like a law suit, I'm not getting excited about the Valkor project yet, unless of course, their downhole heating process can produce significant amounts of usable, low sulphur oil.

Two positives from this presentation for me.

Cash in Bank

But more importantly, new CEO performance. As has been said shareholders have suggested on numerous occasions, we work with smaller fish initially before trying to land a behemoth. Looks like common sense prevails with this guy, although I get the impression from JM, he is against it and somewhat smarting at the idea.

Peter appears to be a go-get type of executive who will hopefully take this "jam tomorrow" company to a driven, commercial entity as fast as he can. Maybe he already has strong relationships with other smaller shippers who can help him in this regard. As ever, time will tell

I think everyone wants this venture to succeed. Some however, are less accepting than others, of the companies past, (and ongoing) failures to become a commercial success. That's human nature, not trading, or shorting, or any of the other made up accusations on here!

"He won't learn anything from the IMC meeting, he already knows everything"

Bit like you then Stockchump!

"No trials will start that is for sure"

"You in charge of them then HF14? You always seem to be very certain as to the failure of everything around you, you must be a great dinner conversationalist."

Id hazzard a guess he isn't but that doesn't mean he won't be proved correct!

Anyone investing in a pre-revenue company and giving up after 5 months, should not be investing at all. That's simply gambling!

It's a shame our BoD had not agreed penalty clauses into our various projects and trials, where we are compensated if the counterparty failed to keep up with agreed timescales.

We would have made a tidy sum from MSC and a fortune from OCP. But, I suppose, when you get your full salary regardless of any failures or lack of progress, there's no incentive to tackle these delays head on.

Just waiting for the "they would never have agreed this, so we wouldn't have any projects" brigade shouting down this tactic.

It's a depressing read 46G and it basically highlights they've spent around £3m in the last 12 months and achieved a small 24 hour trial in Panama.

I thought Valkor would initially, (understandably) go for the low hanging fruit of asphalt supply. Hopefully once the weather gets worse and asphalt demand ceases, they will consider producing some low-sulphur MSAR for fuel and send us the money we're overdue!

Pemex has for years been the perfect fit for MSAR but they outdo Morocco when it comes to the brown envelope culture!

Yes but why let mere details get in the way of rampy made up timescales?

I'll be over the moon if it's Q1 2026. Knowing our luck here, we'll still be discussing this time next year!

We just have to hope Sparkle are not another OCP or MSC, who we have been told are very keen but who's actions, (or lack of) say the very opposite.

Third time lucky or groundhog day?

Take heed, the great visionary has spoken!

Maybe take a few days to recover from the London International Shipping Week Dinner? Pressing the flesh with copious amounts of Bollinger in the other hand.