Member Info for belisce6

my take on what they stated;

need a stronger drill rig for the deeper holes like this one,
but can use the current drill rig for shallower holes...

(so Tai-1 is definitely NOT a duster...)

i think that if they could get to some real work, that they would have completed the new CEO issue at the same time... the timing of this was rather smashed with the covid situation being amplified everywhere... and not much has changed yet...

shouldn't be any malay politics involved in the sarawak award of licence 334, because the one next to it was already done some time ago... applications were completed etcetc and its just now waiting to see that upl was awarded this licence...
nothing more to it...

in all fairness, if the company itself has a say in the timing of licence award (presuming it will be theirs), then the licencing board could have been told to delay it for some months, due to the fact that the corona situation around the world will probably have a serious dampening effect on upl doing much work at all on the licence... so why have it awarded now, and not as the corona situation clears up much more... just my take on the issue..

any replay ?
just logged into the presentation... one hour late ;-( haha.. am living in another time zone.. damn...

thanks Mniy...

Can someone put the link to telegram group here again..
For some strange reason the previous link comes up as expired when I try to use it..

brilliant... :-)

did anyone see more clearly as to what he was looking at on the table ?
samples perhaps ?? haha...
(on only speculating...)

Anyone else able to get any information on the Petrobas brazilian drill on their Guajuru prospect in the Barreirinhas basin ?
(which is referred to in the Financial Statements commentary)...

I tried to find something, but have been unsuccessful so far..

its not a massive part of the overall raising though, so not sure if it as negative as you make it out to be..

Any idea what's going on with Sarawak?

Do you know the name of the field and where exactly it is?

Couldn't really see a date on the article..

Can anyone actually find the quarterly on copls website ?
Doesnt even seem to be up..

Where has all the money gone ?
So much has been spent on tilapia, yet they have a shoddy drill completed with a very leaky plug..
Way way over budget in the end based on the ipo and more recent capital raises all ploughed into this..
Yet.. they are receiving the bulk of snpc money and still they have potential going concern issues...
Where has all the money gone ??
Is it going to the locals who then backhand it back to the lowly paid aaogers ??
The question must be asked.

I thought that art said cash ok till end of june.. in an earlier update or interview.. like in jan or so..
I could be wrong though

Why bother with a jv now?
They have the funds to go it alone.. for such high potential daily flowrates, they should leave as is, and just go for it..

I thought it was stated earlier this year, that cash levels were good enough to last until end of june..
If this is true, then there is plenty of time for some successful admin and dealmaking news to still come out before any potential cap raise...

If they are good enough to get a Service Provider Agreement to finance all development work, contingent maybe on one appraisal well having to succeed beforehand, then this could really go gangbusters...

It all depends on how good and how acceptable the existing dataset really is..

Present moment in time.. cannot see reason why the market cap cant easìly get to 30 to 35mill area... so 8 to 10p zone...
To go beyond, would need some completed work like cpr and feasibility studues etc... but for now 30 to 35mill quid wouldnt be over nor under valued, based on this gas asset and the cash levels...

Yeah.. they may or probably will raise something any day now..
Just hope they do it asap and get it out of the way...
Cos even if they double shares on issue by raising 2.5bill shares at 0.1p for 2.5mill quid.. thatd leave 5bill shares on issue, and enough cash for operations for another 6 months.. during which they can reduce their 40% to about 25% for freecarry on first appraisal, with all else being covered by other project finance, meaning at speculative 25% of minimum 6k bopd 1st drill, would be like 6kbopd * 365 * 25buck profit (?) by 25% is about 10 to 11mill quid annual profit.. on one drill at minimum flow target.. at lowish 5pe thats 50mill quid worth..
Into potential 5bill shares on issue, thats 1p...
Which after 4 drills at closer to higher target range of 10kbopd, might be closer to 7p or so...
Well worth taking a punt at these current levels...