Member Info for WongaFC

Nice 5% jump in oil futures today. As I see it, the more expensive oil becomes, the more compelling the MSAR option.

Onward and upwards....

I see where you're coming from Ric. If your ISA is fully funded for the year and all capital is invested, (no cash holding) then something would need to be sold to take up the offer. Selling 1/30th of your QFI holding now with a view to buying back via the offer, does seem a plausible course of action and I think many investors may be currently doing just that.

However, there is always the chance the share could rise between now and the offer date in which case the sell to buy back would be even more profitable. Without Boyporche's crystal ball it is impossible to know the best time to sell.

No sign of offer on HL. I emailed them yesterday but no reply as yet...

For me, this simply shows the IMO as a toothless waste of space, either that or complicit in a cover up. Either way, very, very far from fit for purpose!

I've no idea where the 1:30 ratio has come from, but it may have been the max rate the IIs would agree to?
At least it should be pretty much affordable to all and if a shareholder has no spare cash whatsoever, they could sell out 1/30th of their shares now @2.9 and buy them back at 2.7. There is also the chance the share price could be rise between now and the offer?

As far as I can see, the placing was done at a discount of around 10%, as the offer price at close on Monday was around 3p, (bid 2.80p). Not bad when compared to previous fund raises and if IIs are willing to take a £6m punt on such terms, they must be pretty confident of upward share movement to come IMO.

Sounds like they may have Institutional Investors lined up???

Interesting to see how the SP moves in relation to the news. If successful, it takes away the funding concerns and a nice thank you for the little guys to boot!

"We are told that the sand left behind is so clean that it can be used in other industries without further cleaning so has a positive residual value and not simply a waste product. Also, and probably much more important, the environmental impact of this process is minimal compared to others like Canada so you can be sure that when/if the technology is commercially proven, big oil will want in on the party!"This for me is the big selling point of this project. In general, environmentalists, (Biden?) are very much in favour of reducing fossil fuel production and likely to resist further development plans. However, in Utah, the oil sands are vast swathes of in the main nature-hostile land. Any operation looking to clean this up should be welcomed. The fact that both oil and sand can be very profitable by-products of this clean up exercise, makes it even more compelling . A tree-planting project, once the areas have been "cleaned" could further enhance the green credentials. Why would anyone be against this and as Salinger suggests, it may attract an oil major looking for profits with green kudos

"So George Stapleton COO of Petroteq spends $100,000 buying 2M Petroteq shares in last 5 weeks.
Something special happening in Vernal.
Good stuff.
Big news I expect this coming week."

A lot of excitement on the Tomco chat. Would have been nice to see our executives showing the same belief in our projects????

Be a lot happier when we see the back of lockdowns and I can get a proper pint of guinness again BP. I trust your eyesight woes are behind you.

Lots of positives on QFI since the AGM and while sustainable investing continues to be a rapidly increasing theme, the opportunities should continue to present themselves. While fossil fuels in general may have a limited shelf life, there is still a huge case for MSAR over the next few decades, with the BIOMSAR development to compliment the QFI offering.

Me too! Have just topped up with another £10k's worth, from my recent US Tech stock trim. When the offer price dips below 3p, it becomes a good chance to build my QFI position. Not reached my holy grail of 5m shares yet but still have cash available for potential further additions.

"but I have done a 360 now"

At the risk of being a pedant. 360 would mean facing the same direction, probably means 180, or is he cryptically remaining negative???

Just picked up another £4.5k worth at just under 3p.

https://www.bbc.co.uk/news/world-middle-east-56147305

Any ideas who the culprit might be this time????

"The final results of the Pre-FEED study were released in September 2020, concluding that the likely cost of production from a 10,000 bopd plant would be approximately US$30 per barrel"

46G, Do you know if that is simply the oil extraction cost, i.e. could this be even lower if cost offset by sales of clean sand?

I wonder how much residual sand is left per barrel of oil produced? While this would be of no benefit to QFI, it could make the whole Greenfield project a much easier sell to potential investors.....

The above prices can normally be taken with a pinch of salt. If you want to get a more realistic price, place a dummy trade with your broker. Doing this on HL they will quote you a live price, (buy or sell) and you can cancel the trade if unhappy with price offered.

The tendency is for the spread to narrow on here by mid afternoon and in my experience, these narrow spread prices are more realistic.

Can the BoD not give Elon Musk a call? He appears to be willing to take risks:-)

We have been told many times the company had enough capital to last until mid Q2 2021, they now say this extra £500k will get them to end H1 2021, that's 6 weeks funding by my arithmetic. Unless of course the cash burn rate has changed due to acceleration of projects.....

MichaelPC, yes Maersk is a bit of a swear word on here but it would be folly to refuse to deal with them and I'm sure the BoD will feel the same.

At least this time around we are less dependent on them and it could end up a "they need us more than we need them" scenario. Should put QFI in a much stronger position when discussing trials/contracts etc.

Great find DoN, it reads like MSC are very committed to making this work.

I had to look up lignin though and it reminded me of another article I read somewhere suggesting the use of algae in the future production of fuel components.

All very exciting for the future!