Member Info for WongaFC

Good progress reports on Viston takeover of PQE, (passing regulatory hurdles) and good RNS from Tomco who are not hanging about with their plans.

Nice to see companies meet or remain close to their anticipated timescales but of course neither of them are having to deal with pesky potential customers/end users.....

I wonder if the "tenant" might be Valkor? or Byle's Heavy Sweet Oil? Makes sense to keep it among "friends"....

Looks like the Petroteq investors are becoming interested in Tomco?

Maybe catch on here as well one day.....

A briefcase full of cash is also a great motivator in Moroccan business deals;-)

Some updates over on Tomco blog. sounds positive to me. Seems Valkor very much have their backs and with Steven Byle's involvement too, it could prove good news for QFI as well??

Interesting video on Mexico right enough and while there's no doubt a slant on it, it does concern me just how difficult it could be to get anything going there. Although as the video reconfirms, they do have a glut of heavy fuel oil to dispose of and if QFI can help them do that more efficiently and environmentally friendly, then who knows.

Andale! Andale! Arriba! Jason....as a little mouse might have said.

Iantobach, sounds like you are in a similar position to me??

IF the Petroteq takeover goes through at the end of Feb, I too would be tempted to top-up both here and Tomco, depending on both SPs at that time. Already heavily in here but they way I look at it is; Despite the "banter" on here re. £1 party etc. I will be made up if the SP reaches 10p. By topping up at these low prices, 2p'ish, it allows me to start reducing my exposure at a much lower price, say 6p for example.

Despite all the positive rhetoric around the progress, trials, new products etc. we all know this is no guarantee of success. Some positive steps toward commercialization this year could see the SP track back up to 6p+ and even higher depending on news. I could then sell some of my holding (bought at 2p) leaving plenty still invested for further upward movement. Might not reach the holy grail, but one more good run up on the SP sees me in a good financial position.

Good luck all fellow investors, whatever your plans.

I suppose if you look at it as three stages; buy the land, get the permits, start drilling, you could argue they are at the mid stage (getting the permits) of the program??

My understanding is Morocco plans and contracts still to be agreed with,(Client's) new team, which could take some time before the logistics of MMU install and fuel supply can be finalised. I'll be pleasantly surprised if the trials are concluded in Q1.

Read an interesting statement as part of the BG Positive Change Fund. The first part makes me think of major oil and dare I say it Maersk!!;

"The transition towards a more prosperous, sustainable and inclusive future will lead to disruptions across many industries. For incumbents whose business models are based on fundamentally broken assumptions about the world, this represents a significant threat. In addition, many companies are weighed down by legacy assets and vested interests. Therefore, instead of driving genuine positive change, they are more interested in clinging on to their social licence to operate by publishing glossy Corporate Social Responsibility reports and creating a small number of ‘sustainable’ product lines, while at the same time protecting and milking their legacy assets."

However the final sentence reminded me of the great potential we have here in QFI;

"This creates an exciting opportunity for ambitious entrepreneurs and innovative companies to disrupt those incumbents, and simultaneously contribute towards a better future and create long-term economic value for their own shareholders."

Maybe one day????

I may be wrong but I believe well over 50% will already be tendered. In my own experience with HL as broker, their cut off point for tendering was noon today but I believe that is to give them time to consolidate all tender instructions prior to forwarding details to Viston's representative by 4th Feb (I think??).

I also believe many other brokers will have a similar process. Who knows what will happen but not unduly worried about deal not going through. Yet!!!!!

Cheers dfg,
Not counting my chickens yet but hopefully some nice profits to play with come mid-Feb. Getting the SP to 1p however will also depend on the "traders" having bought in at 0.50p not selling at 0.60, 0.70 and so on.

I actually topped up on Tomco yesterday, not much but I selfishly hope the price stays around these levels for another couple of weeks!!

"He's at work. Where are you?"

Thought you'd retired Mike, what you doing in the office??

Well we've been told Philip Hill "hit the ground running" although no detail as to where he is running to. Maybe the new guy has been hired to try and find him???

"Just buying another 5 grands worth, 250,000 approx shares. If this team cannot get a contract signed, just one, I will eat my hat."

Given current food inflation, if QFI do not come good we might all be eating our hats!!

Certainly seems to have spooked the markets, 44% B/O spread,

Well the RNS does contain some excellent results and much better than anticipated but it also serves up more "jam tomorrow" of which the markets have clearly had their fill.

I believe it will take confirmation of a large trial, (MSC or Mexico) to shift the SP up significantly. It's going to be another long slow year....

Re. the HL tender process for PQE. IIRC the instruction was to do nothing if wanting to retain your shares, click the radio button if wanting to sell all, or contact them directly if wanting to sell part of your holding.

There was a large text box below the radio button and I assume that is where further instructions could be detailed. I had considered holding back around 150,000 shares but decided to tender all in the end. I too, will likely re-deploy some of the potential proceeds with Tomco.

haggis,
"Quadrise is now awaiting client approval to proceed with fuel production and the Site B trial, which is expected imminently but has been temporarily delayed due to an internal management reorganisation at the client."

There's that old "imminently" again! AND internal management re-organisation could mean a complete change in attitude to this trial?? Only another 2 weeks or so and the "early Q1 2022" deadline will be missed again!!!

Fwiw, I don't think it will make a bit of difference, apart from removing the excuse for QFI inactivity.

As discussed just before the ban came into effect, if QFI had urgently wanted their staff there, it could have been done before the ban. I think the 12-15 month delay on this project is more to do with this client taking cold feet. I'll be delighted to be proved wrong however...