Proactiveinvestors United Kingdom Graphene NanoChem plc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Graphene NanoChem plc RSS feed en Mon, 17 Jun 2019 06:28:01 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Graphene Nanochem surges as new polymers division successfully completes paid pilot project ]]> https://www.proactiveinvestors.co.uk/companies/news/179142/graphene-nanochem-surges-as-new-polymers-division-successfully-completes-paid-pilot-project-179142.html Shares in Graphene NanoChem plc (LON:GRPH) surged higher on Tuesday Morning after the nanotechnology specialist’s new polymers division successfully completed a paid pilot project for a global Tier 1 company in Malaysia.

The project saw Graphene provide its enhanced building materials solution as part of a warehouse conversion and building modification assignment for the customer.

Graphene added that the pilot was also a “major breakthrough” because its polymers and enhanced building materials solutions have now been used in the highly-regulated aerospace industry, which is a “further testament to its quality and strength”.

Chief executive Jespal Deol said: “Although small, a first contract win for a new division is always something to be proud about and I would like to thank everyone involved for their hard work in securing this landmark project.

“These are exciting times for the group and we are pleased our revolutionary building materials have been welcomed by the market, praised for its strength, quality, and flexibility while meeting price points set by customers.

“We are confident in our ability to build on this progress and generate further contracts in the future.”

Shares rose 8% to 5p.

--Updates for share price--

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Tue, 13 Jun 2017 09:21:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/179142/graphene-nanochem-surges-as-new-polymers-division-successfully-completes-paid-pilot-project-179142.html
<![CDATA[News - Graphene NanoChem gets two purchase orders worth US$589,680 for its ‘smart’ fluid, PlatDrill R ]]> https://www.proactiveinvestors.co.uk/companies/news/178140/graphene-nanochem-gets-two-purchase-orders-worth-us589680-for-its-smart-fluid-platdrill-r-178140.html Graphene NanoChem plc (LON:GRPH) has received two purchase orders for a total of 4,000 barrels of its ‘smart’ fluid, PlatDrill R, valued at US$589,680.

The international provider of nanotechnology performance enhancing solutions said the orders, from a leading oil and gas company, are for deployment in the near term in Myanmar.

READ: Graphene Nano wins order from China for drill fluid

Jespal Deol, Graphene’s chief executive officer, commented: "We are pleased to announce our latest commercial orders from Myanmar and see huge potential market opportunity from the resumption of drilling activity.

“These orders are a continuing validation of our products value proposition and is another milestone for Graphene NanoChem and its ongoing partnership with Scomi Oil."

In its statement, the AIM-listed group said it “is particularly encouraged by this purchase order, as it is a further indication that confidence is returning to the sector with major oil and gas companies resuming drilling activities.”

It added that it is “working closely with Scomi in expanding the deployment of PlatDrill and are optimistic that further orders will follow in due course.”

Shares in group edged 0.9%, or 0.05p higher to 5.35p in mid afternoon trading.

More environmentally friendly alternative

Graphene and its partner Scomi are marketing Platdrill as a more environmentally friendly alternative to traditional oil based mud (OBM) products for drilling.

Back at the end of December, the group announced it had picked up its first PlatDrill order in China, worth about US$360,000, to service two wells in Changning in the southwest of the country.

In February, the firm also revealed it had received an order for its nano-emulsion fluid, PlatSurF from a Middle Eastern oil and gas company, valued at USD118,800, for a trial order in Turkmenistan.

READ: Graphene Nanochem picks up second contract for oil well additive

Graphene last year restructured its business to focus on nanofluids (oil field chemicals), water treatment and enhanced building materials and undertook a £2.5mln debt restructuring.

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Mon, 22 May 2017 14:43:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/178140/graphene-nanochem-gets-two-purchase-orders-worth-us589680-for-its-smart-fluid-platdrill-r-178140.html
<![CDATA[News - Graphene NanoChem’s stock overhang cleared as Darwin converts final chunk of loan notes ]]> https://www.proactiveinvestors.co.uk/companies/news/176387/graphene-nanochems-stock-overhang-cleared-as-darwin-converts-final-chunk-of-loan-notes-176387.html Graphene NanoChem plc’s (LON:GRPH) lender, Darwin Capital, has told the nano-technology specialist it will convert the final chunk of convertible loan notes.

The notes were issued to Darwin as part of the £2.5mln financing deal announced at the end of 2016.

Darwin is to convert the remaining ten notes it holds, worth £250,000, into Graphene shares at 3.601908p per share.

To satisfy the conversion, Malaysia-based Graphene will issue 6.94mln shares, which are expected to be admitted to AIM next Friday (20 April).

Under the terms of the financing agreement, Graphene receives 90% of the par value of the notes. In this case, the company will receive £225,000.

Shares in Graphene NanoChem have more than doubled over the past week as Darwin drew nearer to converting its remaining notes and clearing the stock overhang.

Graphene's share price was up another 1% or so on Thursday afternoon to 7.6p.

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Wed, 12 Apr 2017 15:36:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/176387/graphene-nanochems-stock-overhang-cleared-as-darwin-converts-final-chunk-of-loan-notes-176387.html
<![CDATA[News - Graphene NanoChem expects debt restructuring to be complete by middle of second quarter ]]> https://www.proactiveinvestors.co.uk/companies/news/175760/graphene-nanochem-expects-debt-restructuring-to-be-complete-by-middle-of-second-quarter-175760.html Material and chemical specialist Graphene NanoChem plc (LON:GRPH) updated on its debt restructuring exercise, saying it will be completed by the middle of the second quarter.

Malaysia-based Graphene said last year it plans to restructure its short-term debt of £14.5mln that makes up about 58% of its total debt to financial institutions.

Previously it has said the process would be unconditional by the end of the first quarter.

The firm must complete administrative process and other conditions precedent, including the process of non-core asset sales, such as fuel additive assets and its palm oil refinery, were at an advanced stage.

Shares shed around 12% to 3.82p.

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Fri, 31 Mar 2017 11:57:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/175760/graphene-nanochem-expects-debt-restructuring-to-be-complete-by-middle-of-second-quarter-175760.html
<![CDATA[News - Graphene Nanochem picks up second contract for oil well additive ]]> https://www.proactiveinvestors.co.uk/companies/news/174187/graphene-nanochem-picks-up-second-contract-for-oil-well-additive-174187.html Graphene NanoChem (LON:GRPH) has received a firm commitment for PlatSurF, its oilfield recovery additive, from a Middle Eastern oil and gas company to use on oil wells in Turkmenistan.

It is the first contract for the product in the country with the order worth US$119,000 just for one trial well. Graphene said the unnamed customer has 110 wells in Turkmenistan.

If the trial is successful, negotiations will start for these oil wells to be treated over the next 12-24 months. 

PlatSurF is a nano-emulsion fluid that can clean drill holes and get oil flowing more smoothly by removing residues and oil blockages.

It can also improve production rates in previously damaged oil wells by reducing wastes and residues generation.

Jespal Deol, Graphene’s chief executive, said: "Our latest commercial win is a further testament to the commercial benefits and quality of our products range.

“This new contract marks another significant milestone for the Group as we continue to gain market validation and traction for our products."

In May, Graphene won a US$200,000 order from Myanmar, for a 16-18 well drilling programme in Myanmar, which was PlatSurF’s first commercial contract.

The company also makes a more environmentally friendly drill fluid, Platdrill, which is being sold into China as an alternative to traditional oil based mud (OBM).

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Fri, 03 Mar 2017 07:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/174187/graphene-nanochem-picks-up-second-contract-for-oil-well-additive-174187.html
<![CDATA[News - Graphene Nano wins order from China for drill fluid ]]> https://www.proactiveinvestors.co.uk/companies/news/170971/graphene-nano-wins-order-from-china-for-drill-fluid-170971.html Graphene Nanochem (LON:GRPH) has picked up its first order in China for its drilling fluid Platdrill.

Worth about US$360,000, the order is to service two wells in Changning in the southwest of the country, an area where 300 shale gas wells are expected to be drilled over the next five years.

Graphene and its partner Scomi are also marketing Platdrill as a more environmentally friendly alternative to traditional oil based mud (OBM) in south east of China where drilling contractors are expected to use 80-120,000 of synthetics as a replacement for  OBM.

Jespal Deol, Graphene’s chief executive said the order was a continuing validation of its product especially now that oil is expected to be "lower for longer". 

“Further, our partnership with Scomi has enabled the Group to reduce marketing cost and adoption risk and continue to service our orders through working capital financing provided by Scomi whilst we continue to strengthen our financial position."

Graphene has restructured its business to focus on nanofluids (oil field chemicals), water treatment and enhanced building materials.

Shares in the AIM-listed group resumed trading last week after a £2.5mln convertible loan was arranged.

Shares soared 27% to 11.8p.

 

--updates for share price --

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Wed, 28 Dec 2016 07:34:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/170971/graphene-nano-wins-order-from-china-for-drill-fluid-170971.html
<![CDATA[News - Graphene Nanochem aims for reboot by year-end ]]> https://www.proactiveinvestors.co.uk/companies/news/169006/graphene-nanochem-aims-for-reboot-by-year-end-169006.html Graphene NanoChem plc (LON:GRPH) has published its last two sets of results and said restructuring plans are making progress.

Shares in the AIM-listed group are still suspended and will remain so until a fund raise is completed to restore its financial position.

The reorganisation plan has seen it ditch its platinum subsidiaries to focus on nanofluids (oil field chemicals), water treatment and enhanced building materials

Jespal Deol, chief executive, said it had made significant progress with the reorganisation, debt rationalisation and reducing costs, though many challenges remained.

He anticipates a plan would be agreed with its lenders and other financial institutions by the end of the year.

For the half year to June, Graphene posted a loss of £1.54mln (£3.6mln) on sales of £867,000. Debt at the end of the half year was around £30mln.

The group also published its figures for the year to end December 2015, which contained impairment charges of £25.7mln in a loss of £34.1mln.

 

 

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Tue, 15 Nov 2016 10:22:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/169006/graphene-nanochem-aims-for-reboot-by-year-end-169006.html
<![CDATA[News - Graphene Nanochem takes another step in debt shake-up ]]> https://www.proactiveinvestors.co.uk/companies/news/134520/graphene-nanochem-takes-another-step-in-debt-shake-up-134520.html Material and chemical specialist Graphene NanoChem plc (LON:GRPH) has passed another milestone in its debt restructuring.

The company said it had received a final draft agreement approving the shake-up from its main financier, Malaysian Debt Ventures Berhad.

Graphene NanoChem plans to restructure its short-term debt of £14.5mln that makes up about 58% of its total debt to financial institutions.

Terms include no payback up to the end of December 2017 and an extended maturity date from November 2015 to December 2021.

Execution of the agreement is anticipated soon, thereby enabling completion and finalization of the audit shortly thereafter, it said.

Graphene Nanochem said the planned realisation and disposal of its non-core assets, namely fuel additive assets and its palm oil refinery, were at an advanced stage.

The Malaysia-based nano-technology firm said the overhaul would place it on a stronger footing to focus on longer term, higher-margin business opportunities such as water treatment.

It added that it would publish its annual results, which have been delayed, later this month.

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Thu, 01 Sep 2016 15:15:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/134520/graphene-nanochem-takes-another-step-in-debt-shake-up-134520.html
<![CDATA[News - Graphene Nanochem waiting for short term debt sign-off ]]> https://www.proactiveinvestors.co.uk/companies/news/128786/graphene-nanochem-waiting-for-short-term-debt-sign-off-128786.html Waiting to restructure short term debt was the main reason behind Graphene Nanochem  PLC's (LON:GRPH) delay in publishing its 2015 results.

Shares were suspended as it revealed it  would not be able to publish before June 30. It now expects to publish in August.

The firm needs final approval from the main lender Malaysian Debt Ventures Berhad (MDV) on terms for the restructure of the short term debt of £14.5mln, which amounts to around 58% of its  total debt to institutions.

Terms include no payback up to the end of December, 2017 and an extended maturity date from November 2015 to December 2021.

Meanwhile, a debt restructuring plan with its other secured financiers, Bank Pembangunan Malaysia Berhad and Bank Rakyat Berhad will settle the rest of the group's secured debt of around £10.5mln through the planned disposal of  non-core assets.

These include the fuel additive assets and the palm oil refinery, which have a value of around £18.2 million based on independent assessments.

Graphene said the successful restructuring of debt will strengthen the balance sheet and allow it to use operating cash flows in the near term for the advancement of the recalibrated business plan as it  progresses into long term, higher margin business opportunities.

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Fri, 29 Jul 2016 08:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/128786/graphene-nanochem-waiting-for-short-term-debt-sign-off-128786.html
<![CDATA[News - Graphene Nanochem wins Myanmar order for oil well additive ]]> https://www.proactiveinvestors.co.uk/companies/news/126355/graphene-nanochem-wins-myanmar-order-for-oil-well-additive-126355.html Graphene NanoChem (LON:GRPH)  has received a firm order for PlatSurF, its oilfield recovery additive, for a 16 - 18 wells drilling programme in Myanmar.

It is the company’s first contract in Myanmar with the initial four well order worth just under US$200,000. 

The orders for the remainder of the wells will come through over the next 12 - 18 months.  

Jespal Deol, Graphene NanoChem’s chief executive, said the order was a testament to the product’s quality.

Graphene Nanochem adapts ‘wonder material’ graphene for industrial uses withthe  energy and water sectors its specialiity

PlatSurF, a nano-emulsion fluid, improves the flows and production rates in previously damaged oil wells by reducing the amount of wastes and residues generated.

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Wed, 25 May 2016 07:59:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/126355/graphene-nanochem-wins-myanmar-order-for-oil-well-additive-126355.html
<![CDATA[News - Graphene Nanochem pleases market with debt restructuring ]]> https://www.proactiveinvestors.co.uk/companies/news/124638/graphene-nanochem-pleases-market-with-debt-restructuring-124638.html The market cheered materials and chemicals specialist Graphene Nanochem  PLC's (LON:GRPH) update today, which underlined its bid for growth again a challenging industry background.

Shares added more than 27% as it unveiled plans to rationalise the business and restructure short term debt.

The Malaysia-headquartered  nano technology firm said the move would place it on a stronger footing and also revealed plans to sell its non-core assets, including its fuel additive assets business and the palm oil refinery, to focus on longer term, higher margin business opportunities.

It also revealed its first quarter had been positive, with the launch of its water treatment solutions by its joint venture with  Scomi Oiltools and that it was making marketing efforts focused towards securing early contract wins in this field.

It struck the deal with  Scomi, Asia's third largest oilfield services firm, in 2014 for the production of its drilling fluid solution and other nano- chemicals. The partnership gives it access to 22 different countries and 67 separate locations.

Latest landmark transactions will help to execute next growth phase, says firm

The group's main financier Malaysia Debt Ventures Berhad has approved the restructuring of the short term debt of around £16mln (about 53% of group total debt) - to be  converted into longer term debt.

The firm said £0.35 million will be paid down only in 2016 and 2017, and then the overall sum will not be due until December 2021.

To settle a further £12 million, it plans to dispose of non-core assets and initial discussions with potential buyers are already  going well.

Focused on the oil and gas sector..

The company, whose tag line is "The future. Now..", designs and makes solutions, which are enhanced by manipulating tiny (nano) molecules to improve the performance of liquids and products. It is mainly focused on the oil and gas sector.

It operates through two segments - advanced chemicals, which for example, produces liquids with improve the performance of oil drilling rigs.

It also has advanced materials, which, for example,  makes  graphene enhanced nanocomposites, which can be used in rubber or polymers to increase strength.

And the market potential is huge. Analysts last September estimated that the enhanced oil recovery industry is worth US$38bn a year currently and is growing at a compound annual rate of 29%.

The last few months have seen agreements struck.

In January, the company received its first commercial order for the Confi-Gel product - a nano-engineered gelling agent or viscosifier used in oil drilling.

The US$33,300 order came after Scomi carried out six months of testing and Scomi intends to use the product in Pakistan during the first quarter of 2016, before moving it gradually into operations in Turkmenistan, Indonesia, Thailand, Vietnam, Myanmar and India.

And in November last year, it won a three year agreement with a Malaysia based agri- business, which is expected to generate £500,000 of revenues in the agreement's first year.

It is  a three year leasing and tolling agreement with Temasek for the production of refined bleached deodorised palm oil, basically a refined product, at graphene's Lahad Datu Plant in Sabah in Malaysia.

What's in store?

The firm said today: "Operationally, 2016 continues to be a period of market building for the group and a number of commercial opportunities have been identified to increase sales volumes and expand market reach particularly in light of the urgent needs for water treatment solutions and significant progress is being made.

"After a difficult year, the business will become right sized, leaner and well positioned to capitalize upon future prospects in the two large markets in which we operate."

Last September, the group's interim results revealed the loss before tax widened in the six months to end June to £3.7mln from a loss of £3.5mln in the same period of 2014, while revenues fell to £7mln from £20.4mln.

Shares today gained over 23% to stand at 12p each.

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Mon, 11 Apr 2016 10:34:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/124638/graphene-nanochem-pleases-market-with-debt-restructuring-124638.html
<![CDATA[News - Graphene Nanochem debt restructuring set to advance growth ]]> https://www.proactiveinvestors.co.uk/companies/news/124619/graphene-nanochem-debt-restructuring-set-to-advance-growth-124619.html Shares in oil and gas sector focused  materials and chemicals specialist Graphene Nanochem  PLC (LON:GRPH) shot up as it unveiled plans to rationalise the business and restructure its short term debt amid a challenging industry background.

The  nano tech firm said it would place the group on a stronger footing as it also revealed plans to sell its non-core assets, including its fuel additive assets business and the palm oil refinery, to focus on longer term, higher margin business opportunities.

In an update on trading, it said the first quarter had been positive, with the launch of its water treatment solutions by Scomi  in its joint venture at the offshore technology conference and it was making marketing efforts focused towards securing early contract wins.

The group's main financier Malaysia Debt Ventures Berhad has approved the restructuring of the short term debt of around £16mln - to be  converted into longer term debt where £0.35 million will be paid down  only in 2016 and 2017, and then the maturity date of the overall sum will be extended until December 2021.

This debt represents 53% of the firm's total debt to secured financiers.

To settle a further £12 million, it plans to dispose of non-core assets and initial discussions with potential buyers is going well, the firm said.

Chief executive Jespal Deol said: "These landmark transactions, once completed, are expected to provide Graphene NanoChem with the necessary capital to execute the next phase of its stated growth plan."

The group said it had delivered on its two core near-term strategies, namely establishing a presence in 67 locations and 23 countries and the launch of its enhanced water treatment solution platform with marketing efforts focused towards securing early wins.

Shares added  25.77% to stand at 12.26p each.

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Mon, 11 Apr 2016 08:18:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/124619/graphene-nanochem-debt-restructuring-set-to-advance-growth-124619.html
<![CDATA[News - Graphene NanoChem lands first commercial order for Confi-Gel ]]> https://www.proactiveinvestors.co.uk/companies/news/121525/graphene-nanochem-lands-first-commercial-order-for-confi-gel-121525.html Graphene Nanochem (LON:GRPH) has told investors that it has received its first commercial order for the Confi-Gel product.

The US$33,300 order comes after the customer Scomi Oiltools carried out six months of testing on the Confi-Gel product, which is a nano-engineered gelling agent or viscosifier used in oil drilling.

Scomi intends to use the product in Pakistan during the first quarter of this year, before moving it gradually into operations in Turkmenistan, Indonesia, Thailand, Vietnam, Myanmar and India.

"Today's news marks another milestone for the group and is in line with our strategy of developing the mainstream market for our products range,” said Jespal Deol, Graphene Nanochem chief executive.

“The oil and gas market has suffered significant downturn from the volatility of oil prices and the fact that our product addresses the industry pain-points has generated significant traction in the commercialisation of our oil and gas product range.”

Confi-Gel is used as an additive in base-drilling fluids. It decrease fluid loss to the well surroundings and ensure wellbore stability throughout the drilling activity, the company explained.

Graphene Nanochem added that the product provides a superior performance as a viscosifier because of its microstructure. Viscosifiers form a significant component of drilling fluids, it added.

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Wed, 20 Jan 2016 08:25:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/121525/graphene-nanochem-lands-first-commercial-order-for-confi-gel-121525.html
<![CDATA[News - Graphene Nanochem's new deal provides predictable revenue ]]> https://www.proactiveinvestors.co.uk/companies/news/119687/graphene-nanochem-s-new-deal-provides-predictable-revenue-119687.html Advanced materials and chemicals specialist Graphene Nanochem (LON:GRPH) has won a three year agreement with a Malaysia based agri- business, which is expected to generate £500,000 of revenues in its first year.

The firm also revealed on Wednesday it is in discussions over restructuring its bank debt.

Investors welcomed today's update, sending shares up almost 14% to 11.95p in early deals in London.

The deal is a three year leasing and tolling agreement with Temasek for the production of refined bleached deodorised palm oil, basically a refined product, at the group's Lahad Datu Plant in Sabah in Malaysia.

The tolling arrangement will kick off in the first quarter of 2016, expected to generate revenues of around half a million pounds in the first year, with planned production ramp up in the second and third year.

It provides for a predictable revenue stream for the Lahad Datu plant.

Graphene's chief executive Jespal Deol told investors: "We are pleased to be able to leverage on the capacity of our Lahad Datu Plant to generate a new revenue stream for the group.

The firm is also progressing discussions with its financiers on the terms of the restructuring of its debt facilities, he said.

"We are also grateful for the commitment of our financiers to working with the group to achieve an acceptable terms of the restructuring of our bank debt and we are confident that the successful completion of the same will position the group well for future growth."

Prudent measures are being used to conserve cash position and management continue to assess all options with a view to raising additional funds, it added.

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Wed, 25 Nov 2015 09:38:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/119687/graphene-nanochem-s-new-deal-provides-predictable-revenue-119687.html
<![CDATA[News - Graphene Nanochem product to be put to the test in Myanmar ]]> https://www.proactiveinvestors.co.uk/companies/news/116956/graphene-nanochem-product-to-be-put-to-the-test-in-myanmar-116956.html GraphSolve, the latest solution from Malaysia headquartered Graphene Nanochem (LON:GRPH), is to be put to the test in the field for a national oil company in Mayanmar.

It is a paid trial under the group's deal with Scomi Oiltools and the product is due to be used in three wells in work due to complete in the first quarter of 2016.

GraphSolve is used to treat drill cuttings waste on-site, thereby ridding the costly need to transport and treat material away from the well.

Drilling generates between 300 MT (Metric ton) and 600MT of cuttings per well.

The latest product can reduce treatment costs by between US$70 and US$200 per MT of cuttings.

Its dual  chemistry function effectively reduces the oil content in the cuttings to less than 1% to meet environmental regulations for on-site disposal

It also speeds up the biodegradation process to within 8 - 12 weeks, providing cost savings to operators and an improved carbon footprint.

Graphene's chief executive Jespal Deol said: "The advanced paid field trial of GraphSolve by the End Customer after successful lab testing provides a strong testament to the performance of our products as we continue expanding our product lines and market reach."

Graphene and Scomi Oiltools, one of the Asia’s largest oilfield services companies, have a joint venture covering a number of oilfield drilling lubricants and products.

Earlier this month, Graphene won a US$384,000 order for its water-based drilling additive PlatQuartZ from a Middle East oil company working in Turkmenistan.

Shares were unchanged today at 13.25p.

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Mon, 02 Nov 2015 13:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/116956/graphene-nanochem-product-to-be-put-to-the-test-in-myanmar-116956.html
<![CDATA[News - Graphene Nano picks up drilling lubricant contract in Turkmenistan ]]> https://www.proactiveinvestors.co.uk/companies/news/114407/graphene-nano-picks-up-drilling-lubricant-contract-in-turkmenistan-114407.html Graphene Nanochem (LON:GRPH) has won a US$384,000 order for its water-based drilling additive PlatQuartZ from a Middle East oil company working in Turkmenistan.

The additive enhances the rate of penetration in drilling and oil recovery in difficult wells.

Graphene and Scomi Oiltools, one of the Asia’s largest oilfield services companies, have a joint venture covering a number of oilfield drilling lubricants and products.

PlatQuartZ will be used as part of Scomi Oiltools' existing 3-year onshore drilling contract for between 8 - 10 wells.

Graphene’s strategy is to build sales through ScomiOil customers switching to its products on existing contracts.

PlatQuartz is an environmentally-friendly lubricant additive designed to enable high temperature and pressure performance for water-based drilling muds.

The successful field deployment had also secured PlatQuartz automatic qualification for a new three-year tender in Turkmenistan to be awarded by the end of the year.

Jespal Deol, chief executive, said: "We are excited with this development.

"The proven field performance of our product in helping the industry to reduce drilling cost is creating good track and positive momentum that allows us to continue increasing sales and expanding our geographical footprint in higher margin opportunities."

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Tue, 06 Oct 2015 08:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/114407/graphene-nano-picks-up-drilling-lubricant-contract-in-turkmenistan-114407.html
<![CDATA[Media files - Graphene Nanochem chief on higher margin product push ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/4199/graphene-nanochem-chief-on-higher-margin-product-push-4199.html Wed, 30 Sep 2015 15:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/4199/graphene-nanochem-chief-on-higher-margin-product-push-4199.html <![CDATA[News - UPDATE - Graphene Nanochem in advanced debt restructuring talks ]]> https://www.proactiveinvestors.co.uk/companies/news/111303/update-graphene-nanochem-in-advanced-debt-restructuring-talks-111303.html ---ADDS DETAIL AND COMMENT---

Oil and gas sector focused nanotech firm Graphene Nanochem (LON:GRPH) said talks with partners on restructuring its debt are well advanced as it continues to focus on higher margin products.

As previously reported, the group is in discussions with financiers to restructure current borrowings of £18mln to align its debt maturities with current growth plans.

“We are very focused on achieving this in the shortest possible time,” chief executive Jespal Deol told Proactive Investors following the publication of interim results.

He said the restructuring would allow the company to conserve cash while continuing to invest in two growing lines of business – oil services and water treatment.

The debt plans wouldn’t involve “significant investor dilution”, Deol added.

Graphene Nanochem is gaining significant traction for its high performance drilling fluids and lubricants enhanced with graphene nanomaterials.

These next generation products are proven to reduce costs by enabling crews to drill oil wells faster, improving output levels and extending the shelf life of some very expensive pieces of equipment.

This should be music to the ears of the majors and national oil firms that have been hit hard by the 50% decline over the past year in the value of a barrel of crude.

While this is not a particularly glamorous segment, be in no doubt this is a huge market.

Analysts estimate the enhanced oil recovery industry is worth US$38bn a year currently and is growing at a compound annual rate of 29%.

Not that the company’s current valuation – a miserly £20mln – recognises this potential, or that the model is de-risked commercially thanks to a joint venture with Scomi Oiltools, Asia’s third largest oilfield services company and a world player.

Through this partnership it has access to 22 different countries and 67 separate locations.

Scomi for its part is on the record as saying that GN’s products are integral to its drill fluid offering.

Earlier this month it won an order for its PlatQuartz lubricant additive from Scomi worth US$390,000. The additive will be deployed to an oil and gas company in India for a 3-well drilling programme.

The focus for 2015 and 2016 financial years will be to continue to leverage this partnership, it said.

Water treatment offers an even bigger opportunity, valued at US$180bn – working with upstream and downstream oil and gas as well as in the general water treatment market.

A longer term opportunity, the company is in various testing and commercial discussions with potential customers for its PlatClean product in the Middle East.

PlatClean is designed to provide a complete solution for handling segregated and combined waste streams.

It uses GN’s patent-pending membrane system that will enable a twofold improvement compared to conventional systems and make it cost-effective and with a smaller footprint.   

The interim results revealed the loss before tax widened in the six months to end June to £3.7mln from a loss of £3.5mln in the same period of 2014, while revenues fell to £7mln from £20.4mln.

CEO Deol said: "This has been a period of further growth for the group, as we continue our focus on executing opportunities in higher margin products within the performance chemical & material businesses with growth potential that would contribute to a stronger bottom line for the group.”

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Wed, 30 Sep 2015 09:05:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/111303/update-graphene-nanochem-in-advanced-debt-restructuring-talks-111303.html
<![CDATA[News - Graphene Nanochem inks US$390,000 deal ]]> https://www.proactiveinvestors.co.uk/companies/news/110875/graphene-nanochem-inks-us390000-deal-110875.html Graphene Nanochem (LON:GRPH) has secured a commercial order for its PlatQuartz lubricant additive from Scomi Oiltools.

The order is worth US$390,000 and is to be deployed to an oil and gas company in India for a 3-well drilling programme.

Jespal Deol, chief executive, said: “We are excited by the on-going deployment of PlatQuartz and the significant milestone it represents in validating our long term growth plan for this market, as we continue making good progress in the commercial rollout of our products into international markets.”

PlatQuartz is an environmentally-friendly lubricant additive designed to enable high temperature and pressure performance for water based drilling muds.

Shares rose 1.3% to 18.75p today.

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Thu, 17 Sep 2015 09:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/110875/graphene-nanochem-inks-us390000-deal-110875.html
<![CDATA[News - Graphene Nanochem wins US$28mln order for new drilling fluid ]]> https://www.proactiveinvestors.co.uk/companies/news/107976/graphene-nanochem-wins-us28mln-order-for-new-drilling-fluid-107976.html Graphene NanoChem (LON:GRPH) has won an order for its PlatDrill Series drilling fluid worth US$28mln – which is just under two-thirds of AIM-listed group’s current market capitalisation.

Details in today’s announcement were scant, though the company did say the contract was with a national oil company. 

The deal came through the firm’s tie-up with the drilling fluids specialist Scomi Oiltools and deliveries should begin in the fourth quarter.

Graphene NanoChem describes PlatDrill as a smart fluid that is environmentally friendly, biodegradable and less toxic that competitor products.

Chief executive Jespal Deol said: "The tender award gives us excellent revenue visibility going forward and we are excited by the market opportunities before us.

“Our product has been proven to enhance drilling efficiency and to reduce costs and through our strong partnership with the Scomi, the group is starting to convert opportunities into revenues as we continue to progress in our market penetration.”

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Fri, 12 Jun 2015 09:11:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/107976/graphene-nanochem-wins-us28mln-order-for-new-drilling-fluid-107976.html
<![CDATA[News - Graphene NanoChem profitable in fourth quarter ]]> https://www.proactiveinvestors.co.uk/companies/news/65339/graphene-nanochem-profitable-in-fourth-quarter-76298.html Graphene Nanochem (LON:GRPH) has told investors it was profitable in the final three months of 2014.

It comes after the group warned in September that it would report a loss for the full year as a result of delays in the deployment of its high margin PlatDrill product.

The company, which still expects a loss for 2014 as a whole, closed the year with strong momentum and a significant pipeline of both sales and tenders, according to chief executive Jespal Deol.

Fourth quarter trading benefited from cheaper oil prices, he added.

“The drop in oil prices has had a positive impact to our business with the need for superior products that enable cost savings to end-users,” Deol said.

“This was as reflected in positive sales in Q4 2014 and we are delighted with the market progress and scale of opportunities for expansion.”

Deol also highlighted that new product lines due to be launched in 2015 and 2016 represent significant milestones in the group’s growth strategy.

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Fri, 16 Jan 2015 10:25:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/65339/graphene-nanochem-profitable-in-fourth-quarter-76298.html