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Share Name | Share Symbol | Market | Stock Type |
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Oxford Cat. | OCG | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
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160.00 | 160.00 |
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Posted at 26/9/2013 09:26 by visionon Was reading last night about the World GTL project in Trinidad and lawsuits that have followed (between World GTL and Trinidad state owned company). Ventech designed the scheme and I'm guessing that their experience of delays and cost overruns (numerous according to one news article)lead them to conclude that there must be a better way...i.e. build in modular form in their own factory with their own people and then ship to site. Thus I guess the desire to partner with Velocys.Ventech website is interesting and this news article that I found gives background to the $200m equity investment fund and Ventech views on why it is better to fabricate at home. Apologies if posted before but good to review again in light of latest deal with Pinto. hxxp://www.bizjourna The more I think about the Ventech relationship the more I like the idea of it. It will be interesting to see how analysts react post interims briefing from Velocys. EV is still a tiny fraction of the potential market for small GTL - I guess it's a long education process for industry and investors alike but just a small increase in assumptions on market penetration could add 10s of millions to market cap (each 2800bpod plant being so valuable). |
Posted at 23/9/2013 13:22 by gac141 Oxford Catalysts nearing inflection point?By Julie Fisher | Mon, 23rd September 2013 - 13:04 Shares in Oxford Catalysts Group (OCG) have risen 5.4% after its gas-to-liquids (GTL) technology was selected by Pinto Energy for a planned US GTL plant. American company Pinto is planning the 2,800 barrel-per-day plant at Ashtabula, Ohio to convert natural gas from the Utica and Marcellus shale region into solvents, lubricants, waxes and transportation fuels. It began designing the plant in April and has applied for air and water permits. The plant is expected to be operational by early 2016. Pinto chairman Guy Dove said Oxford Catalysts, which is shortly to change its name to Velocys, was "the best choice for smaller-scale GTL". Oxford Catalysts' technology could also be used at a number of other small-scale GTL plants which Pinto hopes to develop across Pennsylvania, North Dakota, Texas and the Gulf Coast. In an interview with Interactive Investor earlier in September, Oxford Catalysts chief executive Roy Lipksi said technology stocks such as his own were "defined by these big re-rating events" as they proved themselves as viable concepts. "There is another on the horizon, when our first customer commits to construction of a plant," he added. "That will be a big inflection point for us." |
Posted at 11/9/2013 15:54 by yachtie8078 Maybe, or just maybe investors are positioning themselves ahead of what will probably be a very good interim report :-) |
Posted at 06/9/2013 14:14 by sailastra As for Roman A well he has in fingers in more than one pie....Clean Air CAP and it's dual fuel product is another way to capitalise on cheap natural gas which may explain this..-- GBP5m equity fundraising (gross) successfully completed in August guaranteed by two new strategic investors: Ervington Investments Ltd, the ultimate beneficial owner of which is Roman Abramovich, and Ms Zara Shvidler |
Posted at 06/9/2013 14:07 by gac141 View from the top: Oxford Catalysts GroupBy Julie Fisher | Fri, 6th September 2013 - 12:29 As Oxford Catalysts Group (OCG) prepares to rebrand as Velocys, Julie Fisher speaks to chief executive Roy Lipski about the fuel-processing technology company's plan to make money from the gas surplus spreading across the globe. What is your business proposition? Roy Lipski: We have a technology solution that allows people to manufacture synthetic transportation fuels, primarily diesel or jet fuel. Nowadays liquid hydrocarbons don't need to come from petroleum, they can be produced from anything that contains carbon. From an economic point of view this usually means natural gas or coal or increasingly agricultural or municipal waste. Waste is probably the most interesting source, especially from an environmental point of view, because it's a truly renewable fuel. What is that technology solution? RL: We have developed a new design for one of the key components of the gas-to-liquids (GTL) chemical process, which allows it to be done cost-effectively for small plants. In the past it's only really been cost-effective at very large-scale plants, typically plants producing more than 35,000-40,000 barrels of oil equivalent per day (boepd) which tend to cost many billions of dollars. So in its current form it remains a very niche play. By being able to do it cost-effectively at smaller scales, it basically opens the market up to the alternative renewable routes and to many more companies and locations, which brings it into the mainstream of the industry. How did you develop the process? RL: Two companies which had separately developed the two key components came together. The first company, from Oxford University, designed the catalyst, and the reactor technology came out of one of the Pacific Northwest national laboratories in the US. These two technologies came together in 2008 and we have essentially reinvented the catalyst and the reactor for the heart of the plant, which is called the Fischer-Tropsch. Now that it's open to the larger market, are you getting a lot of interest? RL: Absolutely. There's a revolution taking place here in North America driven by fracking and shale gas which has caused gas and oil prices to disconnect. Gas prices are at close to historic lows and oil prices are very high, making the ability to turn gas into oil a significant economic opportunity. We're moving into an age defined by gas surplus, so the ability to turn that gas into the fuels that we need could not be more relevant and topical. The US is also looking at ways of exporting and liquefying gas. Does that concern you from a business perspective? RL: No, it doesn't concern me at all, for a number of reasons. For a start liquefied natural gas (LNG) projects are huge - like large-scale GTL, they take five to eight years to put together and cost billions and billions of dollars so they will remain a niche. Secondly, you can only export a certain amount of gas without it driving prices down. I think the gas developed and discovered in North America is going to start impacting world gas prices and world gas prices will come down. Furthermore, there is a huge amount of gas being developed in other parts of the world, including Australia and Qatar, combined with the worldwide phenomenon of shale gas. It has been forecast that the gas market will become more interconnected globally, and that gas prices will be driven down. No amount of LNG project can be done practically that's going to turn the surplus in gas here in the US into anything other than surplus. Additionally, both Royal Dutch Shell (RDSB) and Statoil (STO) are considering large-scale GTL projects in the US, with about 100,000 boepd of capacity. Clearly they are not concerned about the availability of gas in North America. Where, other than the US, do you see a market for your technology? RL: Shale development will spread across the world, changing the dynamics of gas prices and supply and creating a great opportunity for GTL. In addition to shale gas, there are other gas-related applications including flare gas and stranded gas. Flare gas provides a great opportunity for GTL because the gas is essentially free, creating a market in Russia because it is the world's largest flarer. There are also opportunities in parts of the former Soviet Union such as Turkmenistan and Kazakhstan, where there are huge amounts of gas but simply no opportunity to get it to market, and likewise in parts of South America. Our technology can also be used to create fuel from coal, making China significant, and from biomass and biowaste. I think Europe is probably leading the way in the latter because of its focus on renewable fuels. Do you have any commercial projects in the pipeline? RL: Two have already been announced; one with British Airways in the UK, and another in the US with a specialist refiner called Calumet. We also have more than 10 opportunities which are currently in various stages of engineering. Why are you changing your name from Oxford Catalysts to Velocys [on 25 September 2013]? RL: It's been on the cards ever since we merged with the US business [which is called Velocys - Oxford Catalysts trades as Velocys in the US]. It makes sense because it's cumbersome for a small company to have two different brands. The name Oxford Catalysts no longer spoke to what we are as a company as it has very specific connotations and the Velocys name was much better known in our industry. We felt that now was the time to do it as we are beginning to embark upon commercial roll-out and the commercial phase of the company. What are the risks facing the company? RL: For a loss-making business, there's always the risk that you will run out of money. I don't ever want to be complacent about that, but to date we've got a great track record of raising capital, with some very large, able and committed shareholders including Lansdowne Partners, Neil Woodford from Invesco, other big funds like Henderson and Ruffer and Roman Abramovic. Fundamental changes in the marketplace are also a risk, but I believe there will always be opportunities where small-scale GTL makes economic sense. Then there's competitor risk. Again, you never want to be complacent, but the nature of this industry is such that it takes a very long time and a very large amount of money to develop new process technology. It is unlikely that there is a competitor out there that we don't know about who's going to come from left field. Based on that, we are comfortable that we can build a great business within our competitive space. Probably the biggest risk in our market is how long it could take to become established. The way we're managing this is by trying to play a number of opportunities at the same time so that at least one of them happens in a timely manner. While we're on the subject of competitor risk, who is your major competition? RL: There are some competitors, including BP (BP.), Air Liquide and Axens ENI, with conventional technology which they are trying to scale down. But we only really run up against them towards the larger end of our scale [in plants producing 10,000 boepd]. In terms of small-scale GTL our main competitor is the UK company CompactGTL, and we actually believe they are infringing a number of our patents and as a consequence are currently litigating against them. We have the world's largest patent portfolio in this space with over 800 patents worldwide and so we have a very strong competitive advantage. What are the strengths of Oxford Catalysts? RL: Firstly, by virtue of the unique technology that we've developed and protected through our huge patent portfolio, we are the leading technology provider for small-scale GTL, with the best and probably the best-known offering in this space. We are market leaders in small-scale GTL which is a market that is set to take off due to very large significant world trends that are taking place. In a nutshell, we are in the right place at the right time in an industry that has large barriers to entry and so it'll be very difficult for others to come in and displace us. The world's biggest companies are born out of dislocations in the marketplace and with one happening right now between gas and oil we have an opportunity to be lifted up by this market wave of destiny and become one of tomorrow's great companies. How much cash do you have on your balance sheet at the moment? RL: We will release interim results at the end of September so I can only refer you back to what it was at the beginning of the year [according to the annual report, Oxford Catalysts had £33.7 million of total equity on 31 December 2012]. But I can say that we have plenty of money for the foreseeable future and are not about to do a fundraising. Can you explain why your share price has fallen from the beginning of this year? RL: I don't know if I'm really the right person to speak to about that. The stockmarket is very volatile and if you look from around February 2012 we are up hundreds and hundreds of percent. That big rise was basically a realisation by the marketplace that we have moved from being an interesting concept with potential to an actually viable company; a big de-risking. In technology stocks like ours that are moving from concept to reality you are defined by these big re-rating events. There is another on the horizon, when our first customer commits to construction of a plant. That will be a big inflection point for us and it is coming although I can't predict when. How do you view private investors? RL: I think they are a very important part of the investor base, and tend to dictate and move the share price much more than the institutional investors. Our private investors are very active and we do communicate with them, and also work closely with private client brokers. Do you have any message for potential investors in your company? RL: We are clearly a high-risk stock, so this is not for everyone. People have to be prepared and understand that the proposition that we have is higher-risk but with potentially much higher returns. I think that we will be defined by these big jumps. If investors are happy with the risk-return profile, the question for them is when to come in. I cannot predict whether the share price will drop before the next re-rating event so investors will have to make their own decisions. Some see Oxford Catalysts as a takeover target. How would you react to this? RL: Our approach to this is quite simple: we are running this business with the intention of building a great business, we have an opportunity to build one of tomorrow's truly great companies and that's what we're aiming for. If we are successful in our quest there will be many opportunities along the way where we will be the subject of attention from potential acquirers and at that point it will really be a decision for our shareholders. We're not running the business in order to sell it, but I think that if we run it in order to build a real company, there will be many selling opportunities along the way. |
Posted at 06/9/2013 13:55 by gac141 If we are involved in this it would be significant.... OCG--- Roman A---- LNCOTCQX Code: LNCGY ASX Announcement 5 September 2013 LINC ENERGY'S WYOMING UCG (G6) PROJECT MOVES FORWARD Linc Energy achieves major milestone in Wyoming Research and Development License Application process for Powder River Basin Linc Energy Ltd (ASX: LNC) (OTCQX: LNCGY) is pleased to announce that it has received official notification from the Wyoming Department of Environmental Quality (WDEQ) that the Underground Coal Gasification (UCG) demonstration project Research and Development License Application (License Application) is complete and ready for public notice. This is a major milestone which, pending the outcome of the public notice period, will permit the demonstration of Linc Energy's world leading UCG technology at Wyoming's Powder River Basin (PRB), one of the richest coal resources in the world. Linc Energy Chief Executive Officer, Peter Bond, said, "Achieving this milestone advances Linc Energy's plan to demonstrate to stakeholders, investors and commercial partners, both in North America and internationally, the viability of UCG technology in the USA and supports Linc Energy's expanding global push for Clean Energy UCG commercialization initiatives." "The commercial opportunities for UCG in Wyoming upon which Linc Energy is currently focusing are based around CO2 oil enhanced recovery for which UCG potentially adds a new dimension in both more oil recovered and at a lower cost per barrel of production." "This important affirmation of Linc Energy's UCG technology by the WDEQ, which has taken around 3 years to achieve to this point in Wyoming, comes only weeks after the release of the Queensland Government's Independent Scientific Panel (ISP) report on Underground Coal Gasification Pilot Trials where again independent recognition was given to the robustness of Linc Energy's world leading and cutting edge technology, its approach to site selection, design, engineering, construction and operation of UCG gasifier panels," said Adam Bond, Linc Energy President, Clean Energy. "It is important to note that the detailed work undertaken by the WDEQ in determining the completeness of this License Application is arguably one of the most thorough and rigorous assessments of Linc Energy's UCG technology and process including Linc Energy's decommissioning methodology. Through the release of Linc Energy's License Application into the public domain, the WDEQ is acknowledging that Linc Energy's approach to decommissioning meets the high standards necessary to mitigate against the risk of environmental harm. This is an enormous step forward for the UCG industry as a whole and the quality and depth of technical prowess and capability for which Linc Energy is known." Following the notification of completeness by the WDEQ, Linc Energy will begin the 30 day public notice period followed by a 30 day public comment period. Linc Energy will update the market as the process continues towards the potential commencement of what will become Linc Energy's G6 UCG Wyoming operation. |
Posted at 09/8/2013 06:55 by gac141 Intersting to see the comment of Jet Fuel see below$275M refinery expansion slated to add 30 jobs: Calumet Montana will double capacity Aug. 8, 2013 10:47 PM Calumet Montana Refining LLC located on the banks of the Missouri River. Parent company Calumet Specialty Products Partners LP has confirmed it will double capacity and add 30 permanent jobs at the Great Falls plant. / TRIBUNE file PHOTO/LARRY BECKNER Written by Marc Stergionis Tribune Staff Writer Filed Under News Local News Inside OSHA cites Montana Refining Co. for safety violations /6S Calumet Specialty Products Partners LP will double production and add 30 permanent jobs at its Great Falls oil refinery in the next two years, a company spokesman said Thursday. Noel Ryan, director of investor relations at the Indianapolis-based parent of Calumet Montana Refining LLC, confirmed plans to invest $275 million in the local production site with improvements expected to be completed by the third quarter of fiscal year 2015, which ends Sept. 30 of that year. Additional refinery capacity at Montana Refining will produce larger amounts of gasoline, diesel, jet fuel and diluent, Ryan said in an email, but will not add to the product mix. Montana Refining products will continue to be sold in regional markets. |
Posted at 14/6/2013 15:34 by indiestu What a great group of polite and educated contributors. Nice to know there's some truly patient and informed investors here who will be sharing in the fortunes of this company over the coming years. Have a great weekend everyone. |
Posted at 13/6/2013 23:00 by piadda These are my brief notes from the AGM. I apologise for any mistakes as it is hard to listen and take notes at the same time. The biscuits were again high quality. The board were friendly and informative and I thank the other investors for their good company at the pub afterwards.The recent fund raising was done at a good price (£1.25). Mr Abramovich owns huge coal reserves in Russia and made his investment after viewing the underground coal gasification technology of Link Energy. We are aiming at the smaller end of the market (< 15,000 bpd). Shell's pearl plant processes 130,000 barrels per day and cost a fortune. (Andrew Jamieson was heavily involved in its construction). The market opportunities are: Offshore. Anti-flaring legislation is being introduced. The alternative is re-injection of the gas. This involves investment in large compressors that give no return. Our alternative of GTL on a FSPO gives high returns. The diesel can be recombined into the oil produced from the well. Stranded/Flared reserves. North Dakota currently has a heat signature greater than New York due to flaring. There will be increased pressure to use the gas rather than contributing to global warming. Shale Gas. Currently prices are so low that many companies have stopped further drilling. Our technology allows the price received to be upgraded from $4 to $28 dollars. We are currently being held back by the extreme conservatism in the oil industry. Smaller independents are willing to try new technology (e.g. fracking) but can't afford the $100-$150m for a plant. We have sold plant to Ventech but they have not sold any onwards yet. They have 10 parties (two of whom have been announced) involved in engineering design studies. Many others have viewed the demonstration plant in Ohio. No-one has yet committed to a full order yet. There is a full supplier chain in place and ready to go. The suppliers could double their capacity every year if necessary. We are prepared to be flexible in commercial terms to establish the first couple of working plants. It is believed that once they are established there will be a flood of further orders. "Everyone wants to be third". After an order, depending on the size and configuration, it will be 18 to 24 months to full production. We have much better technology than CompactGTL and are currently disputing their patents. They have not announced any orders but have qualified for the Petrobas tender process. Other very small companies have made announcements but none have better technology. It is an indication of the profits to be made that many start-ups are trying to enter the market. The fact that LNG has been around since the 1930s but the technology is only just maturing shows the long life cycles in this industry. Floating LNG is only possible at a much larger scale. The infrastructure is just too expensive for small installations. 4.5 tcf of gas would be necessary to justify the cost (3 tcf if plant is on land). The beauty of our plant is that the output can use the same infrastructure as the crude oil. The quality of our product is very high. Diesel from the Pearl plant is used to upgrade normal diesel to produce the super auto fuels seen on garage forecourts. Only 10% GTL upgrades the whole of the diesel to a better price. Our SMR technology is particularly tuned to offshore operation as it needs no oxygen input. No plans currently exist to produce an onshore version although this remains a possibility in the future. We are very limited in what we can say about our Petrobas demonstration in Brazil. It is run by Petrobas in conjunction with our Japanese partners. It will go at their pace but we hope we will qualify by the end of the year. They insist on 2 bidders for every contract so we are lucky that CompactGTL are involved. It will lead on to a full feed study and Petrobas could go with 1 or both suppliers. Petrobas already have a substantial working relationship with our partner MODEC. We see the offshore market as a medium size and medium term opportunity. Onshore is a bigger size and most likely to see early adoption. The most likely first customers are likely to be processing shale gas in North America or flaring in Russia / Caspian area. Many of our clients have visited the Petrobas demonstration. Pierre Jungels is on the board of Baker Hughes which has 20% of the fracking in the USA. They see it as very long term and are currently curtailing wells as there is too much gas. Many chemical plants are being repatriated to the USA because of the cheap feedstock. Australia, Argentina and USA (and others) have huge reserves. Our advantage is the small nature of our plants. We can go wherever gas is cheap or diesel is expensive. There will always be opportunities somewhere in the world. An interesting aside is that the UK is unlikely to develop its shale gas reserves in the same way as the USA. The landowners get the payout in the USA. Ranchers are positively delighted to see wells all over their land. In the UK the people 'suffering' the wells don't get the rewards. No commitment was made to order timescales as these are not in OCG's control. An ambition (not an expectation) would be an order in the next 6 to 12 months. They would be disappointed if this did not happen. It is important to note that we get upfront income from the licence fee immediately on order and more in stages as the plant is built. We would reach profitability with 3 orders per year initially. Less would be need in future years because of on-going catalyst sales. No plans currently exist for future capital raising as the recent issue has given us a strong balance sheet. My own feeling was confidence in the direction of the company. However I am not expecting profitability soon. The first genuine customer order will be the turning point. This is a good but long term investment. |
Posted at 30/1/2013 12:13 by gac141 This just out....OCG SpeedRead January 2013 OCG is the only smaller scale Fischer-Tropsch (FT) provider to be announcing selection for commercial projects, so it is little surprise that we ended 2012 with an oversubscribed fundraising, achieved under difficult market conditions. The £30.6 million share placement is a huge vote of confidence in our technology and potential. We are delighted by the very significant support received from existing shareholders, several new major institutional investors and our new strategic investor, Ervington Investments, owned by Roman Abramovich. These funds will allow us to accelerate forward, consolidating our market lead and driving the commercial roll out of our technology. The markets are beginning to appreciate our potential OCG stock has been the best performing share in the AIM 100 over the past 6 months (up 161%). 2013 promises to be a landmark year for our business. Roy Lipski, CEO What's new? Ventech Collaboration After working closely together for over a year on the design of a fully integrated, shop fabricated, modular Gas-to-Liquids (GTL) plant, in November OCG solidified its relationship with Ventech by entering into a series of agreements. As a result, OCG's US-based subsidiary Velocys has become Ventech's preferred supplier of FT technology in North America, and Ventech agreed to place an order by 29th March 2013 for a set of FT reactors for use in the first commercial modular GTL plant. Furthermore, through Ventech Project Investments LP, $200 million was made available to make equity investments in energy projects, including co-investment in GTL plants. GreenSky London Progress Update As a follow-up to our selection in July 2012 as the sole FT supplier for GreenSky London and future sustainable jet fuels plants developed by Solena Fuels, in November British Airways (BA), a partner in the GreenSky project, announced several significant milestones. BA confirmed its commitment to purchase the sustainable jet fuel produced by the plant for ten years, a contract worth $500 million (£315 million) at current prices. They also confirmed that consent work has begun on the site for the plant, Pre-Front-End Engineering and Design work has started, and a target production date of 2015 has been confirmed. Mourik Agreement for Commercial Catalyst Handling In November we announced the signing of a service agreement with Mourik LP to provide catalyst handling services for commercial FT reactors. The replacement of spent catalyst with fresh catalyst every two to five years is required for all FT technologies, and we are very pleased to be working with a worldwide leader for this vital activity as we ensure our readiness for commercial roll-out. £30.6 million Share Placing As already mentioned, in December, OCG was pleased to announce the successful placing of new shares to raise approximately £30.6 million. The oversubscribed placing had significant support from existing shareholders, several major new institutional investors and a new strategic investor. The naming of the new strategic investor, Roman Abramovich's Ervington Investments Ltd, at OCG's Shareholder's General Meeting on 3rd January 2013 attracted widespread media attention. See 'In the press', (below). On the conference circuit Steve LeViness, FT Product Manager, presented at Energy Frontiers International Gas-to-Market & Energy Conversion Forum on 22nd October in Houston, Texas. His talk was entitled "Opportunities for Modular GTL in North America". On 12th December, Tad Dritz, Business Development Manager, presented at the Pemex - World Bank GGFR Gas Utilization and Flare Reduction Workshop held in Veracruz, Mexico. In addition, Neville Hargreaves, Business Development Director, represented Oxford Catalysts Group in a panel discussion at the World GTL Congress in Doha, Qatar, 13-15 January 2013. Coming soon: We will be presenting at the Natural Gas Conversion Symposium (NGCS) in Doha, Qatar that runs 2-7 March 2013. In the press The Group received wide coverage from the UK national print and broadcast media in early January 2013 following the announcement that Roman Abramovich's company, Ervington Investments Ltd was OCG's new strategic investor. Neville Hargreaves, Business Development Director, was interviewed by BBC South Today and BBC Radio Oxford. The news received coverage in The Times, The Financial Times and The Sun (UK's most widely read paper), amongst many other UK national papers. On 5th January, The Financial Times ran the article "Abramovich invests in 'gas-to-liquids' in UK. Roman Abramovich, the billionaire owner of Chelsea Football Club, has invested £5m in a small UK technology company that specialises in..." (Full article for registered subscribers). OCG's shares continue to be featured and recommended in the investor media; for example see Red Hot Penny Shares in December and Small Company Share Watch in January. During the past quarter, OCG, Gas-to-Liquids and Biomass-to-Liquids continued to attract wide coverage in the technical and business press: Roy Lipski is quoted in an article that appeared in Forbes entitled, "Gas-to-Liquids Plants: No Longer Exclusive to Larger Players", on 17th January. A feature article discussing OCG's collaboration with Ventech entitled, "Modular design of smaller-scale GTL plants", appeared in the Q1 2013 edition of Petroleum Technology Quarterly. Roy Lipski was interviewed by World Gas Intelligence in Vol. XXIII, No. 51 on December 19th headlined "Small GTL's Market Reach as Great as Opec's, UK Firm Says". On 20th November, Biofuels Digest asked "Little Big Tech: Can Fischer-Tropsch technology work at smaller scale?" Company news OCG continues to expand as we ramp up activities related to the commercial roll-out of our technology. New employees include Brian Cody (Senior Business Development Director) and Matt Davis (VP of Manufacturing) in the USA and Louise Gould (Marketing Manager) in the UK. |
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