No reason to seek offshore business when they have been unable to secure a single local business opportunity in the US. Management is not stupid...they know how to package up a product presentation into a paper sale just like Cecil did years before! Its been two Qs since they reported that the KM contract is not generating a revenue and in suspension but they don’t describe why. Investors are now magically to believe in South America. Let me guess: Aot is solid state...will never need servicing or can be remotely fixed without the use of a tech on site.
They can state that they went there for seeking customers. They could just as well sit at a resort and drink martini's with scantily clad women, and investors wouldn't be the wiser. This company has far too much overhead and doesn't seem to reign in costs when cash flows are still a pipe dream.
All of South America doesn’t equal US production. Peru is a mere 45k bbl a day. Brazil and Venezuela are the major producers and I doubt Qsep going to jump in bed with a socialist government. 9 Million barrels per day are produced from US energy companies. It’s silly to consider any other country except possibly Mexico. If Qsep cant sell this technology in the US it’s absurd to believe they can get a South American player to do so. Shareholders are again being played like a fiddle!
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