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.
Ha. Romgaz has nearly 1.5 billion annually in revenue. They are not a two bit co and certainly not thieves. Yes, Micromem is a long shot. That’s why the reward will be so great. Our tech is in use by Chevron. Delays are due to covid and more than likely logistics of all of the moving parts. I’m still hopeful.
Long
Interestingly Emerson has manufacturing capability in Romania. Also, I suspect the analytics solution is being worked on by the consortium that makes up the IoT and cloud solution. Any solution will need to be compatible with the overall project and will likely be used with other systems. It will be interesting to see whether we are close to true commercial quantities or just larger demonstration pilot projects.
Long
Coastal. Me too. Been in this since the beginning it seems. Keep accumulating. Supposedly Romgaz has agreed to terms pending an analytics solution. Micromem does not have analytic development experience. So who’s developing it? Chevron in the shadows. Yet Micromem eliminated its debt. Why? A number of years ago Fuda said don’t be surprised to hear of a sale with two large cos looking at Micromem. Could we be close to a sale? Two large contracts could allow Micromem to be valued in a sale.
Long
I hope it is soon. We have hoped this for years though.
Long
Happy Fourth of July everyone! It will be a great 2020 yet!
Long
Bonanza- thanks for the post. I always looked forward to STL posts. Always hoping for some tidbit. I’m still hoping his enthusiasm was well-founded. At this point it just looks like another forever. Hopefully chevron will announce a large cloud-based initiative with Micromem a part of it.
Long
This is so sad. I never directly interacted STL or met him. It looks Micromem may outlive all of us. I appreciated his encouragement with Micromem. Yes, RIP.
Long
So, the question everyone has for the entire economy but also for us-
How much of a delay will the pandemic cause Chevron to delay implementation? Into the Fall? Late Summer? Sooner?
Long
Chevron and Romgaz are both named. “Several purchase orders” for Romgaz. COVID 19 will slow this down, but I don’t know how much more clear Micromem can be.
Long
Hopefully oil production can be controlled.
Chevron is showing relative strength. My hope is that any commercialization deal is not delayed too much then.
Long
I wonder if this has some or all of what Romgaz wanted Micromem to provide.
Long
I will add to what STL said. There is value to the tech. The desktop units can do local testing onsite for multiple wells. This alone saves 4-6 weeks in sampling time. The real benefit comes with wellhead units, communicating with the cloud, giving real time analytics of that well. This is where 5G comes in. Recall that chevron teamed up with Schlumberger and Microsoft to develop a background structure for all of this. That was a major piece that had to be put in place for the Atra units. Chevron and every oil/gas co is blind in terms of the efficiency of their wells except by use of tracers. The savings of 4-6 weeks of processing time and the transition to real time status will drive efficiency.
I have been in this over 20 years. I have been frustrated if not furious at some of the missteps that have occurred. I believe we are all going to be surprised at the success of this tech. Unfortunately, we have been slowed down by COVID 19. But that will not change the need for chevron, Romgaz, and others to be as cost effective as possible with the much lower revenue per barrel.
I’ve heard that family and friends own well over 50% of the stock. Maybe much more. And they keep buying in, keeping this going. They would not do that unless it was in their interest to do so. And fortunately that aligns with our interests. I am more hopeful and excited about this than I have ever been.
Long
Nothing is going to happen for the next month with any industry because of COVID 19. Everyone is working from home. That means no meetings, approvals, etc. This does not mean our previous progress with Chevron, Romgaz, and Repsol goes away. Just another delay. We have technology that is needed and will make the oil and gas industry more efficient. I suspect that once industry begins even a semblance of normalcy our tech will be announced with purchase orders.
Long
Seek-
My fear is that the downturn in oil and gas will cause a freeze on new development with Micromem.
Long
Seek- well here’s the answer as to any NR this week. Doubt a significant NR would come on a Friday. Now, let’s say there is news coming about a commercial contract. With the overall market down, no better time for good news. I’m hoping we get something next week.
Long
Ok I’ll bite. I think we have news coming. However it’s probably dependent on the companies the news is with. This week would be great. I’ve been waiting, like all of us.
Long
Seek- your post reiterates to me that we just don’t have the tech people, sales, etc, to really do this justice by selling individual or quantity units to other oil and gas cos. I know we have the consultants. To do this justice you need full time staff to sell, do the engineering, etc. we do not have that.
This is why I think a partial buyout or outright sale is in the works. Based on pending pos to chevron, Romgaz, repsol, and perhaps others we don’t know about.
Long
Seek- yes I hope for a merger or buyout. Continue to hope!
Long
Good progress, although slow. Rather than the 3400 units for Romgaz it looks like first there will be demonstration units. Who know for how long? Repsol moving along, but they will also need demo units first. And Chevron? Who knows.
Progress, but it looks line nothing substantial soon.
Long
I hope you’re right. It will be amazing if and when we get a NR on orders from Romgaz and/or Chevron. Either one validates us and should generate even more orders.
Long
What does that mean? 3 white soldiers?
Long
Slow upward pps increase... previous announcements of Romgaz due diligence done. Maybe we are close. Originally we were told 3400 units over two years. Now we hear of an additional contract maybe. We might be close to a valuation of $1 pps almost immediately. Maybe more.
Long
Yes, we are on Chevron’s timetable, not ours. I hope soon.
Long
Vela-
I think we are just one component of Chevron’s IoT approach to well and field management. It probably includes hardware, diagnostics, software, cloud integration, etc. In other words an entire package of products and services. I doubt that we will be a stand-alone NR by Chevron. Instead I think an announcement of the entire suite of products and services. A lot of moving parts. I’m not giving up yet. Frustrated, yes. But I think it’s coming.
Long
The aroma technology is able to give the efficiency of a well’s production in terms of tracer tech. And it can do it in real time as part of the well head. Chevron put the IoT infrastructure together already. I think every company will want this tech. No kidding. Oils wells have been in the dark ages. No diagnostics. Certainly nothing in real time. Only production stats. Nothing about the distance from the well or efficiency matters. The aroma tech provides this. I think all oil cos will want this. Also gas cos by virtue of Romgaz interest.
We are going to have one hell of a ride imo.
Long
Vela- you and me both. It’s sad it’s come to this. But, I think we have the real deal with Chevron. There is NO way Chevron would have allowed its name to be used unless they were working with us. I think the rollout will be soon. They have had most of last year for field experience.
Long
As long as the chevron and Romgaz deals are as far along as we think, then this is absolutely a good buy. Phenomenal in fact. Possibly making the 20 years worth it!
Long
We just don’t know the margin for each unit. Let’s say $20,000. Just for Romgaz that means @1700 units (one year) equals $34,000,000. With 360,000,000 shares outstanding about a $0.09 earnings. A PE of 40 gets us to over $3 per share. And that does not even factor in Chevron. We could all be surprised by deal announcements.
Long
If a contract with Chevron is finally announced other oil companies that have looked at Artra as a curiosity will consider committing to unit shipments also. We just need that first big NR. Then everything falls into place. I think your prediction is low once Chevron is announced. (If).
Long
And hopefully we get deal news soon about Chevron or Romgaz. Repsol would be nice too. I’m wondering whether the hold up with Chevron is related to them waiting to roll out their entire IoT strategy/program.
Hopefully something breaks soon.
Long
Schlumberger joined up with Microsoft and chevron earlier this fall. So called digital transformation of oilfield technologies. Schlumberger specializes in oilfield maintenance, but also “reservoir characterization” which micromem’s technology provides. It would make sense for schlumberger to acquire Micromem to incorporate the tech into their own portfolio. Here’s to continued hope.
https://news.microsoft.com/2019/09/17/schlumberger-chevron-and-microsoft-announce-collaboration-to-accelerate-digital-transformation/
Have to think we are close to announcements re/ Romgaz and chevron. Maybe Repsol. An announcement of a deal with Chevron will propel us dramatically. And, after the release of Chevron’s answers to Romgaz’ due diligence questions there is no reason to suspect a deal will not be made. If so, I think a buyout is still not only possible but imminent.
Long
Chevron very much into this for their own benefit, but also to capitalize on their advances. They may be planning on marketing this:
https://news.microsoft.com/2019/09/17/schlumberger-chevron-and-microsoft-announce-collaboration-to-accelerate-digital-transformation/
Micromem provides the sensing that will inform the IoT and analytics.
Long
Yes it was. It makes me wonder why. However, two mysteries:
1. Why would Chevron answer these questions at all?
2. Why would Chevron allow this to be released?
Don’t get me wrong- I’m grateful for this info. It appears that Chevron is very happy with the functioning, and that we will play a part in their future well connectivity, perhaps at each well.
So first mystery. I think chevron would answer these questions by a competitor if it was in their interest. Why would it be in their interest?
So, why release this now? It can’t be for general shareholder interest. A more routine NR would have sufficed. I find it curious that Fuda put out that blank debenture/private placement notice. The price was $0.05 a share, twice the closing price. Someone wanted to get in, and not potentially wait when the pps was greater. What I’m wondering is Fuda can’t give non public info to sell a pp. Could he have told this individual that there would be a significant NR that would convince the individual to make the debenture/private placement?
Chevron allowed this to be released. Chevron answered the questions very affirmatively. Are they trying to market this? Could they have an entire solution- IoT, software, etc to market? If that’s the case will Micromem be bought outright? I’m hoping. I’d love to move on.
Long
I think it is all coming! Look at this last NR. Romgaz and Chevron were named! That is huge. There is no way that chevron would allow this unless they are closely working with us. I think we are about to see good things! One of the answers detailed how the Aroma unit was ideal as a wellhead device, providing info thru the IoT. It will be used on a LOT of wells!
Yet, the office is run by Fuda. There is no sales team. No engineering team. Only consultants paid with probably options. What does that mean?
I think it means that if Fuda can show contracts to a buyer, we will be sold. I think a buyout is looming. After all, this was considered several years ago. With near contracts in hand, why not revisit?
Long
Yes, if we don’t get a NR this week we will likely get nothing until late January. Any announcements are at the mercy of the cos the deal is with. It would be nice to know that we were closer though.
Long
Yes, but I’m still hoping we get something before the end of the year. If it’s going to happen it would have to be this week. If not, who knows when? Some potential announcements:
1. Romgaz formal announcement. Maybe with financials?
2. Repsol deal?
3. Chevron deal?
4. Other?
5. Remember rumors of maybe a buyout? With potential pending deals now is as good a time as any to complete a buyout!
Of course, these have been my end of year hopes for many years!
Still Long
Can’t happen soon enough. Potential announcements:
1. Chevron commercialization agreement
2. Romgaz formal announcement
3. Repsol announcement?
4. Others?
Every year such high hopes, then another year passes with nothing. I hope that is not repeated this year.
Long
Hopefully a good buy soon.
Long
It has already been announced that we are working with Chevron towards commercialization. Hopefully we will get an announcement soon. Hopefully a significant announcement.
Long