Member Info for belisce6

Out today

I don't expect it for another couple of weeks..

I believe the monthly updated report has been published on their website each month..

The exact timing has varied and sometimes it's been announced and highlighted, while other times it might not have been..

Although I do stand to be corrected.

@$6m per drill, is that 3 drill targets = $18m total.. at 45% UPL's share would be $8.1m or about 6.5mill quid ?

so with some overhead costs covered as well, upl could cover their share with a 20% capital raise dilution at pre-40mill market cap or at 3.3p level or so..

to farm out for $18mill worth of drilling for how many barrel potential, is not much at all... how much would they have to give away.. potentially with a farmout UPL might be left with at least 20 to 25% of the project free-carried..

if it really is a billion barrel potential, that would be some 250mmbo free-carried potential..

I believe the negative response is cos Funding has somewhat been missed in this announcement.. what happened to the farm out?

Not a word..

Nope.. would think they already have their farminee lined up. This is more in line with how the BOD goes about things.. can see it all unravelling quite fast..

Inland drilling too.. surely cannot be as expensive as offshore drilling :-))

Spent on Sarawak ?

Who hates the board ? everyone ? why ? they gonna announce PSC and volumetrics probably somewhere between end Nov and end Dec... so sp expected to get above recent highs.. why would anyone hate the board, cos someone external pulled a swifty on them ?

Board competency ?

They stated there was no offer nor a guarantee that one would be made..

The issue with identifying Bollinger cones down to whether the Company Secretary followed the rules or not.. if yes, then this person just needs to pass the external communication to the FCA, otherwise if this person did not follow rules then he/she leaves the company..

The sp was reflecting the state of affairs.. it was not pricing in a 14p offer at all.. there was 1 to 1.5p in the sp covering the potential for this offer to actually be made, so the material effects of this are not as drastic as some are making it out to be..

With the expected roll out of newsfliw over Nov and Dec, one would have already expected the sp to get into the 5 to 10p range, or thereabouts anyway..

So this bogus approach of potential offer, has simply become a very short-term hindrance..

Anyone have the link to the Twitter thing about 14p takeover price ?

Number.. numbers.. soon by the look if it;

"Continuation of prospect analysis resource assessment works"

Yes.. conceptual field development plan starting about 3 months before schedule..

while geophysical studies carrying on about 3 months beyond what was scheduled :-)) (double checking I guess :-) )

the march update was announced quite late in april, and so yes.. the april update is due in a couple of weeks..

volumetrics is what we are after :-) how much of an initial estimate of hydrocarbons do they come up with for these structures.. that might create some serious interest, if it is good.. am also wondering what they think about future workplans.. for example, do they plan on drilling into the existing 2D seismic interps, or will they try to go for 3D next year followed by a drill the next..

"early work has identified three main structures of particular interest where petroleum reservoirs could be present and which have been part of the present Joint Technical Study efforts to understand and derisk leads within Block SK334 ahead of a future exploration drilling programme,"

drilling.. drilling.. drilling.. that's the one we want :-)

first of course.. the numbers please :-)))

first seismic interp is due soon :-) then investor webinars after that, but the question is will they have any news on new projects in the region in amongst all of the above.. :-)

thought that the monthly report would have already been published.. wonder if there is anything else going on :-)

news coming soon.. within 1 to 1.5months in line with webinar etc..
seismics work supposed to be completed in march.. so if they still need to compile it with other info, then anywhere from late April to mid may is an expected timeframe for them to announce initial estimate prospective resources of oil and/or gas etc... :-) could also happen already in 2 or so weeks from now :-)

Thought it's OK.. chatting to funding partners in June and over summer again.. (probably cos election is in late May 2023)..
Drill in late 2024.. that's what I understood..
CPR was close to internal numbers.. difference due to lack of 3D coverage in couple edges/areas.. nothing to do either Chuditch discovery though..

They've always called things correctly.. it's only been about the time taken for all the work to be completed.. so as with everything.. expect delays.. but this is the way it is with virtually every listed company..

"Today's interview with Andy Yeo was not all inspiring and they know that so they play on that." Any link to the interview ?