Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Look at page 4 - Recent Developments:
https://genoil.ca/wp-content/uploads/2021/10/Late-2021Q4-Genoil-Website-Investor-Presentation-3.pdf
Genoil mentioned in OGJ article:
https://www.ogj.com/exploration-development/discoveries/article/14279043/seg-discovers-large-uzbekistan-oil-bitumen-field
This is a direct quote from your “Genoil Update”
“The next link covers our 2.4 billion dollar Oman project for which Beijing Petrochemical and Genoil are spending about five million dollars on the design stage. That design should be completed at the end of December and then a formal offer will be made backed fully by a consortium of banks.”
As it is now February I am guessing that the formal offer is either nearing completion or completed. As such I would expect news related to this in the next while.
That is the basis for my comment. Enough said
Thanks. Company feedback needs to be available to the public. Let’s see where they go from here - news on the Oman project should be imminent
Hey Gappa can you please post on this board all of the actual updates you have received from the company? It is great info and a shame they all got deleted from Stockhouse…
Yeah. All for a stock that currently can't be traded by the public. It will be interesting to see how they deal with that situation. CTO in Canada for over 8 years and CE in the states. What a mess.
Some interesting info from the investor presentation:
- The consulting agreement that they signed is for a large heavy oil field in Uzbekistan
- Genoil expects to be cash flow positive by years end
- Genoil Negotiating $700 Billion Energy Infrastructure Investment in Russia and Genoil Upgrader Implementation, Advancing previous LOI. (Aug 2021)
- The Saudi Arabia 600,000bpd upgrader is expected to yield $3 MILLION DOLLARS PER DAY of profit for genoil
- Genoil expects to receive at least 5% of ECM costs for the Saudi project which equates to $37.5M - $50M
Newly updated investor presentation from the Genoil website:
https://genoil.ca/wp-content/uploads/2021/10/Late-2021Q4-Genoil-Website-Investor-Presentation-3.pdf
I agree. Funny how that article makes it sound like Genoil will have desulfurized oil available for next year. Seeing as how they have to sign contracts, and then build the GHU’s, I don’t see that happening at this point...
New interview on uptick newswire:
https://upticknewswire.com/interview-ceo-david-lifschultz-of-genoil-inc-otc-gnolf/
Pretty big media coverage for the LR story, well at least in the bunker world anyways. 8 months till IMO2020 and everyone is still standing around with their hands in their pockets looking around stupidly. I sense a disaster on the hozizon...
GLOBAL: LR provides independent verification for Genoil’s GHU process
A process demonstration witnessed by Lloyd’s Register showed that Genoil’s hydroconversion upgrader can convert high sulphur heavy fuel oil into IMO 2020-compliant marine fuel.
During the demonstration of the desulphurisation process the sulphur content of an HSFO was reduced from 1.72% to 0.38%.
It should be noted that the class society was not present throughout the complete demonstration cycle. However, as Muhammad Usman, Lloyd’s Register, Product Manager – Fuel oil bunker analysis and advisory service (FOBAS), commented: ‘Although LR did not have full visibility of the technical approach used by Genoil’s process or demonstration and was not present throughout, the sample analysed from the output sample of the demonstration was 0.38% m/m, in comparison to the feedstock used for the process which was stated to be an ISO-F-RMG380 fuel with sulphur content of 1.7% m/m.
David Lifschultz, CEO of Genoil, added: ‘Gaining independent verification from a renowned shipping classification society of the product characteristics of the supplied sample at entry to the GHU process and the end product at completion of the process is a significant step for Genoil in proving to the industry that there is a less expensive means of ensuing compliance with 2020 regulations that doesn’t require paying a large premium for distillate fuels, or investing millions of dollars of capital, which may never see full payback, in scrubber technology or LNG.
‘And because the GHU produces fuel with the same properties of heavy fuel oil minus the sulphur content, it also reduces the risk of engine damage, which so many in the industry are concerned with in relation to new hybrid distillate products.’
The recent demonstration was run with conventional high sulphur RMG 380 grade sourced from Rotterdam. A sample was taken by Lloyd’s Register of the input material and sealed in a FOBAS bottle.
This development follows comes after the latest demonstration run for the hydroconversion upgrader (GHU) conducted for Petroleos Mexicanos (PEMEX) at Genoil’s state-of-the-art multipurpose demonstration facility hosted by the UFA Scientific Research Institute of Petroleum Refining and Petrochemistry located in Bashkortostan, conducted in October and November 2018.
Genoil highlights that its GHU can be built alongside existing refinery infrastructure in major bunkering hubs rather than incurring the costs to develop and build all new infrastructure.
The Wall Street Transcript
Genoil interviewed today on twst. Any subscribers out there who can share the interview?
It’s just a technical problem - although it wouldn’t be a bad thing if the stock house board was shut down for good. There is nothing of value on that board and hasn’t been for a long time
Without contacts, revenues, and profits the share price will unfortunately just continue to be blatantly manipulated. No income = no public interest.
This is all very intriguing. There are so many “almosts” with this company it makes your head spin...
New Hire: Carlos Alberto Trevino Medina
http://genoil.ca/carlos-alberto-trevino-medina/
New Board Member - Rolando Ramon
http://genoil.ca/rolando-ramon/
Another New Hire - Ingrid Kim http://genoil.ca/ingrid-kim-genoil-business-development-for-malaysia-serbia-india/
Genoil Hires Emile Heskey: https://finance.yahoo.com/news/genoil-names-senior-vice-president-170000328.html
New Hire: Hassan Al Fadli, Senior Vice President, Global Media & Business Development Department
http://genoil.ca/hassan-al-fadli/
New Hire: Moktar Gaouad, Director of Global Communications, Business Development Department
http://genoil.ca/moktar-gaouad/
And while we’re at it we should be expecting 2017 financials and news of the continuance to Curacao. Should be a more eventful final quarter for 2018
Also about time we hear something about the LOIs in Russia and Saudi Arabia
About time that test started!
Pemex crude tests to begin! https://finance.yahoo.com/news/genoil-begin-pemex-crude-oil-100000770.html
Finally!
NEWS: Genoil Finally Moving To Curacao!
https://finance.yahoo.com/news/genoil-receives-letter-satisfaction-canadian-100000428.html
My understanding is that this was the hard part and the process should now move along quite quickly. Canadians will finally be allowed to trade their shares again!
Genoil will soon become a Curacao based company. This was voted in by investors at the November 2016 AGM. The reason for this was both for the tax break and to allow the company to freely do business in ANY country despite any political sanctions. This move would have been completed already but the frivolous lawsuit from 2016 blocked the procedure. This lawsuit has been dismissed and the block has been removed and the company is apparently working on this again so we should see this completed sometime in the near future; hopefully more sooner than later.
Weekly Short Sale Totals: 2,756,087 out of 3,844,385 for a total percentage of 71.7%. That qualifies as a MASSIVE short attack which leaves you to question the motives...any theories? I have a few...
Those pictures are pretty old. I have commented on this in the past so here’s a repost: To the best of my knowledge this project has not really started yet. Hebei Zhongie did spend considerable money clearing and preparing the land where the refinery was to be built but the project has been stalled ever since. A few reasons have been floated around: still awaiting financing approval, renegotiating contract terms, waiting on regulatory approval...etc - but the bottom line is no progress at this point. One is forced to question the fact that if the Russian and Saudi (and maybe Mexico?) projects actually happen then is this project actually necessary? If all of China's imported oil is already upgraded then the need for upgraders in China seems mostly redundant. Just my opinion though.
Looks like another successful price manipulation by the short sellers. Their MO is pretty easy to see at this point - when volume rises they short heavily into the bid in order to keep any type of momentum from happening so as to keep this stock off the big players radar. They have been doing this for quite a while and employing every trick in the book and then some (they especially love odd share lots, 100 share flags, and spoofing). The big positive is that they have been flushed from the shadows in the last couple of weeks in a desperate bid to keep the share price down. All that is needed right now is for a very large buyer to recognize the situation and start buying cheap shares from them in big quantities. The shorts will have to defend this position until they have no shares left to short and then they will have to start buying themselves to cover their position. Something needs to give as this stock is currently so undervalued that it has become a joke. Share price should be in dollars not cents! My guess is that they will need to finally sign a large contract to get the foot off of their throat - until then watch the trading habits; as I've said they are sooo predictable at this point.
The Kuwait solar project has not been tendered yet. It was stated in the media that it would be awarded in Q1 of this year so I am guessing that something should be announced in the next few weeks. It has to be close - I have been searching this every day and will continue to do so.
Someone close to the company has stated that all of the majors in North America have boycotted Genoil as their process if widely adopted would flood the market with oil and bring down oil prices significantly. That was why they began to focus on China as their only concern is to secure sources of oil to support their rapidly expanding economy. DKL has publicly stated that China has given them a mandate to secure 10 million bpd of oil over the next 10 years. So far if you add up the potential deals THAT WE KNOW ABOUT Genoil has 3.5mill bpd from Saudi Aramco, 3.5mill bpd from Russia, and now 1mill bpd from Mexico. That is 8mill bpd that is all destined to go straight to China. If all of these deals go through the share price would be over $100 per share...and here we sit at 4 cents.
Genoil is testing heavy crude for Pemex!
https://finance.yahoo.com/news/pemex-heavy-crude-oil-arrived-114600229.html
Also mentioned is that the Saudi Aramco deal is in the hands of Crown Prince Mohammed bin Salman and is in advanced discussions.
This is REALLY starting to get interesting.
Genoil Singapore Trader & Project Development Manager - Dr. Eason Lim:
http://genoil.ca/genoil-singapore-trader-project-development-manager/
I'm guessing that this has something to do with IMO 2020 compliant bunker fuel projects as discussed in the last uptick newswire interview.
Genoil Signs Agreement to Develop Velikoye Oil Field in the Astrakhan Region of Russia: https://finance.yahoo.com/news/genoil-signs-agreement-develop-velikoye-122000034.html