Anyone wanting to know when the next bit of news is due... well below is a snippet from the last quarterly for anyone that hasn't already read it. Make your own assumptions from it, but as you can these guys have plenty on the go atm. So where HCD aren't directly involved with either testing, trial or treatment, they are working on opportunities to develop industry relationships & distribution on a global scale.
If proof is in the pudding as they say, then the potential here is HUGE!
Also take a look at their website, very impressive imo. Don't look to me like they're out to rattle the lifestyle tins.
___________________
Sales & Marketing Progress
As previously reported, after a successful head-to-head laboratory evaluation of HCD Multi-Flow against the incumbent supplier’s products, HCD was given a verbal commitment from a national oil company operating in the North Sea to trial HCD’s paraffin control technology. This trial is contingent on successful completion of the required North Sea chemical approvals and registration. HCD achieved umbilical approval for HCD Multi-Flow which is a prerequisite and an important step in meeting the required chemical approvals and registration.
A USA supermajor oil and gas company has completed testing of HCD’s chemistry for viscosity reduction on their Athabasca region heavy oil. The data was shared with field management who will evaluate HCD technology’s paraffin control ability in their wax flow loop. Testing is expected to commence in 1 to 2 months, depending on equipment availability. Successful testing is expected to lead to trial of HCD technology in the field.
HCD is engaged in discussions with two new distributors. The first is an oilfield chemical provider in North Dakota, USA and the second is a Dubai based distributor who will target the Middle East and Egypt. A USA based commissioned salesperson is also being brought on to target producers where his strong relationships can streamline delivery opportunities for HCD.
One of HCD’s Texas based distributors has acquired crude oil samples from two different producers, one from a significant waxy field in the Eagle Ford Shale and another from the Permian Basin. The crudes will be tested with HCD Multi-Flow in a wax flow loop to evaluate the chemistry’s effectiveness at controlling paraffin. Testing is expected to commence in the next few weeks. Successful outcomes are expected to result in trials.
HCD’s Dubai based distributor is targeting tank cleaning and production system opportunities in the Middle East and Africa and anticipates a purchase order from a national oil company for a tank cleaning trial with HCD’s Kleen-Flow chemistry in North Africa.
HCD’s India based distributor with a large presence in South America is working on heavy oil viscosity reduction opportunities in Colombia with a leading independent Latin American oil and gas operator. The producer is considering their current heavy oil operations with high-cost diluent that may be economically feasible to treat.
Advanced discussions, between HCD’s India based distributor and a large private sector producer in India, for the treatment of a significant crude oil pipeline have led to the producer supplying a waxy crude oil sample for rheology testing and wax flow loop testing. This evaluation work is required by the producer as a chemical screening phase needed before proceeding to a trial. The desire is to reduce or eliminate the need for heat addition to the pipeline via natural gas boilers as required for crude oil mobility.
Our agent in India is also working on opportunities with a large India based private sector oil and gas producer as well as several mid-sized private producers.
HCD has directly engaged two producers in the USA Gulf of Mexico for paraffin/asphaltene control in their subsurface flowlines. One is in the process of reviewing their assets to identify a good trial fit for HCD’s technology.
HCD Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
(20min delay)