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Questor - big sales backlog

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By murrayn

Posted: Thursday Jan 15 11:47:02AM 2015

BTW, I should have mentioned that QST posted the news on their website. That is quite unusal for QST to do that but I think it supports my position that this is important for QST.   

By murrayn

Posted: Thursday Jan 15 11:41:32AM 2015

Yesterday the Obama administation announced new regs for methane emissions as they apply to the oil and gas industry. I think this  may be a hugh boost for Questor as their current technology is all about that problem.  This news should keep the floor at $2.50

By Bobwins

Posted: Monday Jan 12 5:47:34PM 2015

QST.v  -31 to C$2.50   sold out today.  Should have sold much earlier but have been surprised by the continued fall in oil. 

The fall in oil prices may not impact Questor immediately but selling new equipment is going to be tougher when drillers are

looking to cut costs anywhere they can.  Still exited with a small profit but left a lot on the table.  

By Bobwins

Posted: Friday Nov 28 9:34:47AM 2014

QST.v  -.68 to 3.30    Ugh!   Apparently market didn't like Q3.  Modest increase in net income due to taxes increasing.


Earned .034eps for the qtr or about .13 annualized on revs of 3.1million.  Revs were down from Q2 revs of 4.5million and eps of .055.  Apparently rental income was up, which is more profitable but sales of burners was down.

CEO talks about incorporating waste heat to electricity initiatives but apparently it hasn't kicked into sales yet.  Questor was highly valued due to the expected high growth and mandated clean air compliance in the US and Canada.  But apparently it didn't help them in Q3.  Market loves incremental, sequential growth in sales and profits. 

I still like the long term story here.  Holding.



By Bobwins

Posted: Tuesday Nov 4 7:58:47AM 2014

Added more QST.v  at C$3.33 today.  Pretty big selloff -.32 to C$3.33.


Questor isn't cheap, selling for over 20X ttm eps but growth is outstanding at 100% yoy last qtr and eps was up 120%.  Selling in both US and Canada.  Tighter emission laws went into effect in both countries in 2014 so growth for Questor should be solid for several years.  The high growth in wells in North America means more markets for Questor to sell into.


Earned .053eps last qtr.  Super clean balance sheet with no debt.  I expect to hold Questor for several years.



By Bobwins

Posted: Monday Sep 8 8:19:47AM 2014

QST.v reported 120 increase in profits for Q2, .053eps vs .025.



stock price went back above C$4 but has slumped recently to C$3.84.  Future looks bright for Questor if they can combine their burner technology with a cost competitive energy generation product from the company they just bought.  Supposed to come out with a commercial version late this year.  Penetration into both US and Canadian markets.  Questor is not cheap at 20X fwd eps but seems to be in the right markets at the right time.  Tighter environmental standards in 2015 should boost sales of the burner technology and if they can provide electricity from the waste gas incineration, they should have a win/win.  

By Bobwins

Posted: Tuesday Jul 15 12:08:46PM 2014

QST.v  -.38 to C$3.49   been surprised by the size of the selloff in Questor.  No news.  I guess some are betting on an overall market downturn OR just taking some of the generous profits that are available to just about anybody that bought Questor over the past couple of years.  


Fundamentals remain.  Emission controls are getting tighter in US and Canada and Questor has an answer.  Was thinking about nibbling but it keeps falling so might wait until tomorrow and see how it's doing.  


By murrayn

Posted: Wednesday Jul 2 9:34:34AM 2014


Check out this link to a Standford University report from 2012. Questor is prominently mentioned on pages 6, 12, 16 and 18.




By Bobwins

Posted: Wednesday Jul 2 8:07:22AM 2014

Questor doesn't solve the flaring problem.  They are just flaring more efficiently and reducing costs as well as pollution from the process.  No matter what they legislate, it will still take a long time to build enough pipeline capacity to dramatically reduce flaring.  However Questor's new acquisition may prove to be a big plus.  Efficient burner mgmt PLUS electrical generation from the heat may be a good interim step to minimizing flaring.  You have to get rid of the bad gas, you don't have a nearby pipeline, you need electricity to run equipment......Questor is your solution.



By murrayn

Posted: Tuesday Jul 1 7:09:08AM 2014

Article in today's WSJ on problem of gas flaring in the Bakken :

By Bobwins

Posted: Thursday Jun 26 9:56:56PM 2014

I also liked the potential for their recently purchased waste heat power recovery unit.  Sounds like first tests won't happen till later this year and probable sales are 2015+ but could be a large market.  Producing oil and gas isn't always close to convenient neighborhood power poles.  These systems could generate needed power for operators and could lessen the need for diesel generators in remote locations.  

I watched the price fall to C$4 and thought about adding but didn't.  I am going to try to get some shares tomorrow.  Thanks for posting that link and for attending the annual meeting.  Questor looks like a great buy and hold stock.  


By murrayn

Posted: Wednesday Jun 25 8:53:37PM 2014

The power point presentation of the annual meeting is on their site. Take note of  the slide that refers to over 40,000 dehydrators that will 

 require Questor's product and over 500,000 tanks. These are certain needs, not potential needs as they are mandated by the 2012 

EPA legislation in the US. Hugh market out there.       

By murrayn

Posted: Wednesday Jun 25 6:51:36AM 2014

I attended the annual meeting yesterday. I am very excited for their future. I think in a year's time we will see a double in the share price. 

By murrayn

Posted: Monday Jun 9 11:40:32AM 2014

Anyone going to the annual meeting JUne 24th in Calgary? I might make it

By murrayn

Posted: Monday Jun 2 9:31:23AM 2014

Just noitced edgecrest also raised their target to $5.50.


Questor : Edgecrest Capital raises price target to C$5.50 from C$3.50; rating buy
    * Questor : Jennings Capital raises target to C$4.50 from C$3.25; speculative buy

By murrayn

Posted: Monday Jun 2 9:27:34AM 2014

Globe reports that Jennnings raised its price taerget to $4.50 from 3.25.

By Bobwins

Posted: Friday May 30 6:29:59AM 2014

Questor posted Q1 numbers.  .032eps on strong increase in gross revs over last year.



Questor Technology Inc. Announces First Quarter 2014 Financial Results


Questor Technology Inc. ("Questor" or the "Company") (TSX VENTURE:QST) announced
today its financial and operating results for the first quarter of 2014. Revenue
this quarter was $3.2 million, 87 per cent higher than the first quarter of
2013, mainly due to higher sales activity in Canada. The Company reported a 92
per cent improvement in profit at $801,750(2) ($0.032 per basic share) for the
three months ended March 31, 2014 compared to a profit of $417,084 ($0.017 per
basic share) for the same three-month period of the prior year. 

The increase in profit was due primarily to higher revenues arising out of the
increased volume of incinerators sold. Also contributing to the increase were
higher revenues from Incinerator and combustion services while lower Incinerator
rental income, higher average cost of sales and administrative expense and
higher income tax expense partially offset the impact on earnings of the
increased sales revenues. Higher net foreign exchange gains recorded in the
first quarter of 2014 compared to the same period of 2013 also contributed to
the the Company's overall improved performance.

FINANCIAL HIGHLIGHTS SUMMARY                                                
(Stated in Canadian dollars except shares outstanding)                      
For the three months ended March 31          2014         2013   (decrease) 
Revenue                                 3,214,437    1,719,577    1,495,860 
Gross profit(1)                         1,442,541      890,441      552,100 
EBITDA(1)                               1,154,868      656,220      468,648 
Profit for the period(1)(2)               801,750      417,084      384,666 
Cost of sales as a percent of                                               
 revenue(1)                                  55.1%        48.2%         6.9%
Funds flow from operations before                                           
 movements in non-cash working                                              
 capital(1)                             1,255,065      662,405      592,660 
Earnings per share                                                          
    - Basic                                 0.032        0.017        0.015 
    - Diluted                               0.031        0.017        0.014 
                                        March 31, December 31,     Increase 
As at                                        2014         2013   (decrease) 
Total assets                           14,794,863   14,029,829      765,034 
Non-current liabilities                   152,906      175,130      (22,224)
Shares outstanding(3)                                                       
  Basic                                25,282,370   25,102,265      180,105 
  Diluted                              26,117,133   25,939,888      177,245 
(1)  Non-IFRS financial measure. Please see discussion in the Non-IFRS      
     Financial Measures section of Questor's Management's Discussion and    
     Analysis for the year ended December 31, 2013.                         
(2)  Before Other comprehensive income (loss).                              
(3)  Weighted average.                                                      

The Company has received confirmed incinerator sales orders for $3.8 million
since the start of the year. The units are expected to be delivered in the
second and third quarter of 2014 and the associated revenue recorded at that
time. Management is in discussions with several companies in Canada and the U.S.
with respect to terms and conditions on additional incinerator orders, the
revenue for which will be recorded at the time the units are fabricated and
ready for delivery in the third and fourth quarters of 2014. For certain sizes
of units, the inventory that management built up over the latter half of 2013
will ensure that the Company is able to provide clients with short delivery
times on their orders. 

At present, Questor has approximately 90 percent of the available rental
incinerator capacity committed under term contracts and is operating in the
traditional Western Canada markets as well as new markets in the United States.
Management expects to continue to issue orders for fabrication of additional
units for completion in the third and fourth quarters to add to the rental

"The heightened environmental focus on emissions from flaring, climate change
and the health concerns arising from the impacts of poor air quality has created
a significant and growing market opportunity for Questor both domestically and
internationally. It has become essential for our clients to address these issues
to obtain approval for projects and the social license to operate," said Ms.
Audrey Mascarenhas, Questor's President and CEO. "As the U.S. adopts the new EPA
rules, the demand for our products continues to develop in both the sales and
rental businesses," she continued. "We have an inventory of units available and
have fabrication partners with sufficient capacity to meet new orders."
Questor's product quality and combustion expertise are becoming more recognized
on a daily basis globally. Our incineration technology is unique in its ability
to allay public concerns regarding air quality and is capable of meeting
emissions standards across a broad range of applications. Emissions legislation
introduced in the United States and Europe is expected to continue to increase
interest in our technology as companies look for solutions to flaring and
emissions control."

On January 31, 2014, Questor acquired 100% of the outstanding shares of
ClearPower Systems Inc., ("ClearPower") a company incorporated in 2010 under the
laws of the state of Delaware. ClearPower has developed technology that will
translate waste heat from any source into power. The integration of waste heat
from Questor's incineration process with the power generation capability of the
ClearPower technology is expected to present a valued solution for many of its
customers. "We are planning to commission a demonstration of this integration in
the fourth quarter of 2014 at an oil and gas facitlity in close proximity to
Calgary," said Ms Mascarenhas. "In addition we continue to evaluate the
substantial waste heat market that the ClearPower technology can be applied
directly to. These two large waste heat areas present opportunities that Questor
continues to prepare for and we anticipate revenue generation in 2015." 

"We are focused and committed to providing continued excellence in combustion
products and services while we select our next steps in respect of introducing
Clearpower as a complementary technology to the enormous waste heat markets. Our
planning around fabrication has us well positioned to pursue growth
opportunities in North America and Europe over the remainder of this year and
into 2015," concluded Ms. Mascarenhas. 

Ms. Mascarenhas was invited to join the Alberta Small Medium Enterprise ("SME")
Export Council whose mission is to provide advice to the provincial Minister of
International and Intergovernmental relations on measures to expand, encourage
and facilitate access of Alberta SMEs to foreign markets. The Council met for
the first time in Edmonton on April 29, 2014.

She also spoke as a member of the Society of Professional Engineers at their
Environmental Impact Workshop in Halifax, Nova Scotia on May 14, 2014 on the
topic of Economic Implications of Compliance. 

Shareholders are invited to attend the Company's Annual General Meeting to be
held on Tuesday, June 24, 2014 at 3:00 p.m. MDT in the Company's Corporate
Offices at 1121, 940 - 6th Avenue S.W, Calgary, Alberta. In addition to the
formal business items, management will be presenting an overview of Questor's
results for the financial year ended December 31, 2013 and first quarter ended
March 31, 2014 and discussing the Company's strategic initiatives for 2014.

Questor's unaudited condensed consolidated financial statements and notes
thereto and management's discussion and analysis for the three months ended
March 31, 2014 will be available shortly on the Company's website at and through SEDAR at


Questor is an international environmental oilfield services provider founded in
late 1994 and headquartered in Calgary, Alberta, Canada with a field office
located in Grande Prairie, Alberta. The Company is focused on clean air
technologies with activities in Canada, the United States, Europe and Asia.
Questor designs and manufactures high efficiency waste gas incinerators for sale
or for use on a rental basis and also provides combustion-related oilfield
services. The Company's proprietary incinerator technology destroys noxious or
toxic hydrocarbon gases which enables regulatory compliance, environmental
protection, public confidence and reduced operating costs for customers. Questor
is recognized for its particular expertise in the combustion of sour gas (H2S).
The technology creates an opportunity to utilize the heat generated from
efficient combustion which can be been used for water vaporization, process heat
and power generation, through ClearPower Solutions (a subsidiary of Questor).
While Questor's current customer base operates primarily in the crude oil and
natural gas industry, this technology is applicable to other industries such as
landfills, water and sewage treatment, tire recycling and agriculture. 

By murrayn

Posted: Tuesday May 27 7:47:32PM 2014

Questor has had a terrific run the past two weeks. I am particularily impressed that the buying demand has been so strong even at these prices. At lot of this buying does not appear to be retail.  Just an observation.        

By murrayn

Posted: Friday May 23 10:45:42AM 2014

Questor up 20 cents today. I wonder if the 1st q numbers, which come out by month end, are better than expected.  

By murrayn

Posted: Friday May 16 8:06:22AM 2014

3 analysts cover qst, according to td webbroker.  est eps for 2014: low of 14 cents and high of 22 cents. first q est of 3 cents. 

By murrayn

Posted: Thursday May 8 1:46:36PM 2014

QST saw record volume and new high today. Tomrrow being Friday I expect profit taking to kick in.   Not sure what caused the surge in volume. Perhaps the herd is looking for the next momentum stock and decided QST is it. 

By murrayn

Posted: Wednesday May 7 12:51:14PM 2014

Is it fair to compare qst to Kelso KLS? Similar growth prospects. If jennings etc come to that conclusion then the share price has lots more room to grow over next few years.  

By murrayn

Posted: Wednesday May 7 7:44:44AM 2014

Clarus, Jennings and Cormark are all big buyers the past few weeks even at these prices. Very bullish sign in my humble opinion. I think we may even see a share offering sometime this year if large orders come in. Not because they necessarily need the money but to satisfy demand from big buyers. 

By murrayn

Posted: Tuesday May 6 8:16:10AM 2014

Questor hitting new high on heavy volume. I wonder if news of a large contract is forthcoming. 

By murrayn

Posted: Monday May 5 11:49:19AM 2014

Business in Calgary May issue has article on Questor. Artcle states that QST plans to open a manufacturing facility in Florida and service offices in a couple of US citites, all in 2014.


Here is the link.

By Bobwins

Posted: Wednesday Apr 16 9:52:56AM 2014

Questor QST.v  +.04 to C$2.56   Earned .098 FD eps for 2013 on 9.8million in sales.  Already guiding for $6+million for first two qtrs of 2014.  Not dirt cheap at 26X ttm eps but high growth and big industry sector.

By Bobwins

Posted: Tuesday Mar 18 6:12:52PM 2014

Questor must have had some restricted stock come free trading.  Stock sold off from 2.99 down to 2.20.  Bounced hard today +.29 to 2.49.  Should have bought some more at 2.20.  


Long term, I still think Questor will do very well.  Jenning Capital put a 3.25 target on QST.v in February.

By Bobwins

Posted: Saturday Feb 15 11:20:10AM 2014

QST.v  +.04 to C$2.83   almost a double since the probable tax related selling in December.  As producing countries worry more about flaring and the bad emissions coming from dangerous gases, QST should continue to do well.  If they can use the gases to generate electricity to help run the well site during production, it will be even better.  

This looks like a long term winner.  

By Bobwins

Posted: Friday Feb 7 1:03:10PM 2014





QST.v  +.22 to C$2.54   Nice pop in Questor.  Looks like they will be packaging energy generation units with their burners in the future. 




By murrayn

Posted: Wednesday Jan 15 12:26:18PM 2014

Questor has new presentation on site. Project 10 cents/ share for 2013. Expanded facility to handle 3X the capacity.


Future looks very bright.


Deserves 20 p/e. coud trade at 4.00  by end of year. 

By murrayn

Posted: Tuesday Jan 14 6:09:50PM 2014

Questor share price has recovered nicely from year end. Today it closed above $2.00 for the first time in a couple of months on good volume and block trades. Not sure what the cause: perhaps meeting with analysts? Anyone have any insight? 

By murrayn

Posted: Monday Dec 9 7:22:22AM 2013

Questor announced 2 directors are leaving. Some shareholders dont like the news. Audrey Mascarenhas is pretty straight shooter so I doubt there is any monkey business. If anyone has any info that can shed some light on the situation that would be appreciated.    

By murrayn

Posted: Wednesday Nov 27 7:06:42AM 2013

Questor 3rd q numers came out. 3.3 cents a share profit, just under 3 mill inrevneue and cash increased from 2nd to 3rd q from 5.725 million to 7.1 million. Cash now 28 cents a share. 9 months profit of .073. should end year at over 10 cents a share.

Once more orders confirmed, as I expect them to announce by early next year, the stock will trade at 20 times ttm plus cash  or $2.20. If the orders are large then 30 times would be reasonable or $3-$3.30 a share.   Weaker cdn dollar helps. 

By murrayn

Posted: Monday Nov 25 10:45:13AM 2013

Questor hitting new highs today on decent volume. I wonder if someone knows the 3rd q numbers or just  lot of punters betting on very good numbers. My google search did not disclose any mention anywhere in the past couple of days. Perhaps a newsletter put out something.

By Bobwins

Posted: Tuesday Nov 19 9:11:27PM 2013

not really.  Said QST was his next choice for a long term winner, multiples of current price.  Said tighter US regulations were driving interest in the US.  

By murrayn

Posted: Tuesday Nov 19 12:15:34PM 2013

Did Brent offer any substantial information? 

By Bobwins

Posted: Monday Nov 18 10:58:21AM 2013

Finally have a small position in QST.v at 1.75.  Recommended at recent Small Cap conference by Brent Todd.  

Recent results don't look astounding but stranded ngas will be a continuing problem as low prices discourage producers from building pipelines to take the by product ngas to market.  




By murrayn

Posted: Friday Oct 25 6:55:29AM 2013

Based on the recently announced contracts I think questor could make 10 cents/share  cents this year. Next year I would not be suprised to to see revenue doubling or more. I expect them to move quickly to  ramp  up production in house and a share offering to fund the expansion.  Insiders have a lot of shares so a dividend payment is not out of the question, but that might not be for a while.       

By murrayn

Posted: Wednesday Oct 23 6:55:01AM 2013

Questor announced contracts totalling 2.6 million, majority to be filled this year. This is just the start of many orders imho. One of the 2 orders came from Dominon Resources. They  alone could order well over 100 of these units, if you look at the scope of their  operations.  

By murrayn

Posted: Monday Oct 21 6:43:13AM 2013

Insider buying of Questor shares-- 19000-- last week. Very  good sign when insiders are buying even with the stock hitting new highs. 3rd q ended September 30, 2013.  We saw this with Dap at 45 cents. 3 months later the share price is at 1.40.  

By murrayn

Posted: Friday Oct 11 1:15:27PM 2013

Questor closed on a new high today. Not big volume, but considering the  next q release is not until end of November, I think the share price strength is good. 

By murrayn

Posted: Saturday Sep 28 6:38:30PM 2013

Recent promotional item on questor

I see they plan to start building some of their units in house. That is often a good sign of anticipated  increase in orders. At a certain point you don't want to be dependent on other to make your product.


By Bobwins

Posted: Tuesday Sep 24 8:55:29PM 2013

Tried to buy some but it keeps climbing away from me.  I thought there would be some late day weakness but NO!  


Will have to decide whether I want to chase it.  Should have bought earlier but got burned several years ago by Questor and was gunshy.  The flaring of all that energy and methane + nasty gases needs to end.  Questor seems to have the current best solution other than a lot of new gas pipelines, which will take many years to build.  

By murrayn

Posted: Monday Sep 23 6:50:08AM 2013

Technically, QST looks very good. It looks like it has cleared the $1.00 hurdle. THe volume has been very good the last few weeks. I think the mamoth potential of the company is being recognized. I can see this srock price at over $4.00 by this time next year from its current level of $1.10.  

By murrayn

Posted: Tuesday Sep 17 5:30:04AM 2013

An excerpt from an article in today's wall street journal:


The study also found that the extra equipment used in so-called "green
completions" was effective at capturing methane gas that could be put into in
pipelines and sold, eliminating venting into the atmosphere. "For those wells
with methane capture or control, 99% of the potential emissions were captured or
controlled," the paper notes.

The federal government will require green completions for all natural gas
wells beginning in January 2015. The rule doesn't require such equipment on
fracked wells in North Dakota, Texas and elsewhere that produce mostly crude


   I think the future of Questor looks quite promising.

By murrayn

Posted: Thursday Aug 29 7:29:22AM 2013

I think 2014 could be way bigger than 20 cents a share. Certainly 2 years out we could see a company doing 5 times its current revenue. 

By mlmack

Posted: Thursday Aug 29 6:20:09AM 2013

Looks like Europe sales are finally kicking in with the 5 large rentals for the 4th quarter. Add the 3 large rentals for the US and fourth quarter and 2014 should see the profit ramping up. I can see profits of $ 0.10 for 2013 and $ 0.20 for 2014.

By murrayn

Posted: Wednesday Aug 28 7:46:12PM 2013

Questor was featured in an article today on Bloomberg, that came out after market closed:

By murrayn

Posted: Wednesday Aug 28 7:34:49PM 2013

qst numbers came out. reveneue of just above 2.2 million and profit of 634,000 or 2.5 cents a share. Very impressive profit and the backlog looks like we may get similar numbers for the last  2 quarters. The high inventory level certainly indicates that.As I suspected the new executive hire and other staff added slary expenses.  The outlook discussion in the md and a is very bullish and I encourage all shareholders to read it.  

Cash of 28 cents a share. 

The share price ought to  move higher tomorrow. If there is any weakness  buyers wil step in.  I think we will close above 85 cents tomorrow.

By murrayn

Posted: Sunday Aug 25 2:59:07PM 2013

my  2nd q predictions FWIW: revenue of 3 million and net income of over $700,000 or 2.8 cents a share. Among the unknowns is the extra salary expenses. I think their new cfo gets paid more than the current one and if they are ramping up production that may have a large inventory number. More importantly is the backlog. Questor may have a hugh rabbit up its sleeve.     

By murrayn

Posted: Friday Aug 23 9:43:00AM 2013

next q report out next week. Share price moving up today.

By murrayn

Posted: Friday Aug 16 10:48:37AM 2013

Recent Questor job posting. I like the claim to be "rapidly growing". They also advertised for an executive assistant a couple of months ago. I think we may see some serious growth in 2014.


Questor Technology Inc -
Calgary, AB

Mechanical and/or Chemical Engineer

Seeking: 2 to 5 years’ experience but recent graduate with the right

Questor Technology Inc. (“Questor” or the “Company”) is a dynamic and rapidly
growing international environmental oil field service company that is seeking a
Mechanical or Chemical Engineer who has knowledge of combustion, manufacturing,
power cogeneration, heat recovery, environmental dispersion and sulphur recovery
emission capture. The opportunities are technical, diverse and rewarding.

By murrayn

Posted: Tuesday Jul 9 10:54:22AM 2013

Questro htting new 52 week high today on good volume. Earnings are not out until end of August so perhaps some news on the way.

By murrayn

Posted: Sunday Jun 23 4:55:26PM 2013

President Obama is set to make a major speech on Tuesday on global warming and his national plan to reduce carbon pollution. If he mentions reduction in flaring then it should provide quite a boost for Questor's future.     

By murrayn

Posted: Tuesday Jun 18 5:29:07PM 2013

By murrayn

Posted: Monday Jun 3 10:46:51AM 2013

Questor shares continue to be bid up on greater volume. I wonder if there is some news on the way or just buyers who recognize the big upside.   

By murrayn

Posted: Saturday Jun 1 9:49:53PM 2013

I think this year  may be the beginning of Questor's breakout. I believe unit sales will really start to take off over the next 12 months. The legislative mandate wil compel very significant demand for their products.  

By mlmack

Posted: Thursday May 30 10:35:36AM 2013

$4.0 incinerator sales including a $2.8 million backlog, more sales already than all of last year !!!

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