Friday, December 06, 2019 1:09:18 PM
A tube within a tube and the rigs orientation shows they are still fighting against conductivity issues. At this point, they have not demonstrated the engineering prowess to solve the pipes on-off operational issues and all of the previous promoted "Value" engineering changes have been ineffective.
At a minimum, QSEP needs to turn on the device and run it for 3 months. No way around it AND no way they can report any measure of efficacy this year. They are still awaiting electrical parts and AOT "might" turn on for the remaining week or two in DEC but that is nowhere near a field test by any stretch. Management wants 2019 over and they are gearing up to fluff the peacock. I expect investors will soon hear about every nut and bolt being tightened. This will be the signal that all is not well. QSEP will come up with lots of fluffery but 2020 will not bring orders or adoption of the tech.
Note to managment...stop slapping backs and thanking this consultant or that until you get a result everyone would believe.
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