Member Info for WongaFC

It appears the timing of my foray into our Utah partners TOM & PQE is fortuitous with both stakes up over 70% in short time and tons of potential upside to come IMO. Recent downward trend here is not so welcome although somewhat understandable as it has consistently done so in a news vacuum.

While the news from Utah, has so far left out the QFI involvement, I believe it is only a matter of time before we too join the ride up. A simple statement of samples sent or received would perhaps alleviate concerns that QFI are surplus to requirements in Utah operations. We know this is unlikely to be the case as the enhancement to the end product, for minimal cost should see increased profit for all involved.

Looks like a shortage of sellers, (understandably), with just smallish trades going through. I tried to top-up with another £1,500 but nowt doing. Onwards and upwards....

"Not sure on that but we can sell already at just under wti so it’s not an issue"

It's all a bit confusing. In the interview he states the end products from the system are bitumen and cleaned sand. He then goes on to talk about expecting just below WTI price for oil we produce. However does getting from "bitumen" to "oil we produce" involve leaving in solvents or adding additional distillates to achieve this?? Definitely some clarity required.

However, if they can sell the sand at the mid prices quoted, we are looking at around $40 per ton or $60 per barrel. Even with additional costs of grading/transport etc. this is likely to be well over the cost of the bitumen/oil production hence any sale of this side of the deal is likely to be profit.

A very compelling case for commercial production indeed.

"if he expects to get $60 -$65 a barrel (only slight discount to WTI) why would they need QFI and MSAR"

I think he said they previously sold at that sort of spot price but that could have been including expensive distillates not removed as per the new process.

My taking from it is the value of the sand basically covers the cost of extraction of the bitumen, sales of which will effectively be profit. This bitumen will not be a great price as is but by converting to MSAR, they will have a very desirable oil product attracting a premium...

Good interview, knows his stuff and certainly got the message over regarding the opportunity.

Salinger will appreciate his comment on the end products of "bitumen" and sand!!

I hope, (and believe) one of these days in the not too distant future we are going to see a big tick up on all three SPs, (QFI, PQE & TOM). The investment world will eventually wake up to the potential of oil sands and the bargain prices of the companies involved.

"Petroteq RNS says, third-party verification is nearing completion. But TOM RNS says they are expecting in the first week of July.

The third-party verification exercise on the Clean Oil Recovery Technology ("CORT") process is nearing completion, with all planned on-site activities having been undertaken. It is anticipated that the FEED (Front End Engineering Design) study for a 5,000 barrel per day production train and the third-party verification work will be completed by July 2021."

I believe these are two different things entirely. They believe the 250/bpd plant is now doing what is says on the tin and they have brought in a third party to verify this "CORT" technology.

The FEED is for the 5,000/bpd train which will use the information gained from the 250/bpd experience and adjust/enhance where necessary to build the commercial 5,000/bpd train. This will obviously take a few weeks longer as it will include on the feedback from the third party verification report.

£66k sold £35 k bought if it is to believed

I bought 200,000 shares at 9.30 this morning which was reported as a sell

Looks like the 18m share "speculator" has somewhat taken cold feet??

Perhaps expecting Tomco to enjoy a PQE type rapid rise, which has not materialised. Petroteq seems to be tracking back down too. Interesting times ahead....

I'm invested in QFI, TOM and PQE and I hope they all come good.

Taking very conservative figures, Tomco's profit per barrel could be $10 for oil and $5 for sand. If they can produce 10,000/day then that's equivalent to $150,000, times say 300 days/yr production = $45,000,000 per annum profit.

Prices of course could be higher and converting to MSAR could also increase profits hence the current SP looks an absolute steal to me!!!

And may I add, less excitable...

Who bought the 250 barrels? what did they pay? and what is the end use?

Answers to those might help the argument along

"That tells me that at the time they contacted QFI they assumed they would need MSAR, now they have just stated they have sold 250 barrels of oil and in the same announcement there is no indication of the samples being send to QFI. Although in the news article on pro active it mentions them."

Yes, but it could have been sold at $25/barrel for road surfacing!!!

One question concerning me; how does the sale of the sand square with the area restitution requirement within the licences?

Of course it won't be QFI producing MSAR for MSC. It will be an oil major or large refinery(ies)

Only a matter of time IMO

While there remains many hurdles to cross before commercial plants are up and running in Utah, recent news and SP movements indicate significant progress is being made. PQE Frankfurt on another huge rise today and Tomco up more modestly. All positive.....

PQE on the rise in Frankfurt again. be interesting to see where the SP is nearer the "alleged" offer date. Could of course, crash and burn but glad I'm in for the ride!!!

Would you not class it as a SP sensitive statement??

Not long ago Elon Musk stated Tesla shares were overvalued and they immediately dropped around 10%, (https://www.dw.com/en/tesla-shares-tumble-as-musk-says-companys-stock-is-overvalued/a-53308317).

He forgot to mention he was selling properties with a view to buying back more of the company's stock though...

May well be but the BoD of PQE believe an SP of around 4 times the current price, "undervalues the company" is quite a strong statement, especially as their technology is not yet signed off as commercially viable!!!