Member Info for DelBoi

Good afternoon all, I was going to hold off announcing this until next week, but no time like the present.

I will be presenting UPL to small gathering of funds and high net worth individuals in Cyprus on the 23rd and 24th of this month. It’s a two day event showcasing value investing. One fund has already been buying and I’m hopeful I can stimulate a few more. At the very least it will put UPL on the radar of some big investors. GLA Del

All on track

https://m.malaysiakini.com/news/490741

Nice £10k buy just before close, we should see some big money come back in for Sarawak, as word starts getting out.

Sounds like we might have a break through in Sarawak soon, CM and PM now speaking directly.

https://www.freemalaysiatoday.com/category/nation/2019/08/20/pm-and-2-cms-not-committee-to-decide-on-sabah-sarawak-oil-rights/

https://themalaysianreserve.com/2019/08/20/ma63-issues-to-be-decided-by-aug-31/

Good evening all, It certainly looks like the MMs are running thin at the moment, only 500k on the offer at close, then NT. also they would take as many shares as they could in the 1.60p range today, obviously hoping to shake out some nervous PI’s. There Hasn’t been much chatter about publicly on UPL seems like all the traders have exited. I know of 3 individuals LTH who have taken over 4 million shares in the past week. including 800k today. MMs know they can play a short book whilst we’re quite, question is for how much longer. I’m under water considerably but it’s one of my most comfortable positions and I continue to when I can. Only a matter of time IMO.

I shared this article in our twitter group recently

https://thearabweekly.com/tunisia-faces-worsening-energy-deficit

Necessity is the mother of invention I guess.

Just as a comparison, UOG will be bringing there 20% of a gas discovery in Italy into production Q3 next year.

2.7BCF = $208k a month, they will earn.

UPL’s DK-1 discovery which flowed gas to surface and is situated beside pipelines is 227 BCF with spare capacity, demand and favourable commercial gas prices. Net 113 BCF to UPL.

And that’s just one of the 13 prospects that we know of , have a think about that...

Excellent piece of research AM, I think your on the money, we know how cautious Steve is, he will have done his due diligence on this, potential for considerable upside here also given these wells were drilled back in 1968 and 1970. Will this fit with what we want to achieve in Sauaof? Possibly, lots of options and opportunities in play. Next move should be interesting.

I get the impression that the Tunisia state would like to see Sauaof developed in a fashion that might complement local gas infrastructure development timelines and facilitate gas capacity requirements, which is not only good for business, but politically an election winner. As operator UPL can be nimble enough to map, explore, appraise and develop all in house and no red tape. I’m looking forward to finding out who Steve decides to partner up with and how/if he carves up the licence . Really can’t see us languishing down here for much longer. Going off recent UK gas discoveries, UPL is undervalued based on the Dk-1 discovery alone. 227 BCF equivalent of about 34MMBOE X $2* 2C, doesn’t take a genius

Thanks Amnesic

Hmmm very interesting, wasn’t aware Perenco = Serept, that opens up numerous opportunities to UPL if we so choose. Possibly a bit of bartering in the mix.

The gas pipelines being built to the door stop of our block is massive, and will sit very nicely in any partnership discussions, and coincidentally it gets announced just before the formal award of our block. I will say no more

Hey guys, as frustrating at it is to see the SP fall back the story here has only gotten better . We’re now “officially” in the business end, and we have some serious players now sitting at our table, unsurprisingly given the need for a 50% increase in-country production to meet demand. Some other big moves been made in tandem with the award of our licence. The Tunisia government intends to extend its gas transmission network from Tunis into NorthWest regions, in 2 phases, by 2020 & 2022. Expanding infrastructure and markets close to UPL's Saouaf block, again only announced last week. Also the Italian major oil and company ENI, active in 10 Tunisia blocks have just signed a new agreement for transporting Algerian natural gas through Tunisia. Hold tight, stay positive!! Fill your boots!! GLA

I feel your frustration,trust me, but the only problem I can find with this company is very few ppl are actually aware of the true potential value in Saouaf, just take a look at the recent RBD UJO West Newton 189bcf discovery. Both company’s have doubled in price. Approximately £15 + million increases to each respect market cap.

Worth noting UPL’s Dekrilla Gas discovery alone is 228 Bcf - A bit of well needed PR and we’re laughing. GLA

It’s a very slow play dealing and working with governments Levi, what Steve is successfully implementing IMO is true value creation. He’s staying very quite until the prize is officially ours, for that, I don’t blame him. You only need to look at what companies are paying to get involved in 100BCF drills of late, CORO paying $10.5 for an offshore campaign Indonesia. Shell $25 million for a North Sea play with CLNR. We potentially have 2Tcfs of gas sitting on infrastructure, excellent commercial prices and unsolicited approaches for Farm Ins interests. And why wouldn’t we!!?

Afternoon all, got my final top ups in here today, great price too, probably off the back of others impatience. Hard to
blame ppl but I always feel it’s prudent to follow local political news flow in line with RNS info. Sarawak shaping up nicely now, with the chief minister and Petros making all the right noises. CNPC just announced last week their entry into Tunisia with a few others signalling interest. With UPL on the ground, it’s about to kick off IMO. Should be an interesting second half to the year. IMO GLA
Nicely

Unlikely, as in effect PVR have proposed a much more detailed survey covering all bases. Lessons learned from the previous submission. I.E. the AA assessment which CNOOC failed to include. Attached below. https://www.dccae.gov.ie/en-ie/natural-resources/consultations/Documents/18/consultations/EXOLA%20Barryroe%20AAScreening_NIS_Feb2019.pdf I spoke with the Petroleum Affairs Devision this morning, their response to my enquiry was that's "its business as usual"

Very healthy looking chart after today's performance and plenty of head room to now move past the 3p barrier.Hopfully nobody got shacken out after the MM games.

Just goes back to the select committee where it was already rejected. Again carries absolutely no legislative power.

Most of us know the gig at this stage, the best time to pick up any volume in this company is in these dips. General market conditions are very poor. But LOGP are the only sub £20 million MC company I am aware of that are commencing a 5-7 well, back to back appraisals and exploration programme this year. Fully funded in this market is a rare thing. When IR picks up around announcements punters will come flocking. Low risk, high reward. Sorry about the blatant ramp. GLA

My interpretation of this drop is just Market Makers looking for cheap stock again. It's a common occurrence, shaking out the weak on a low volume drop. The Barryroe public consultation period is ending tomorrow and we're likely to see news flow pick up next month. I suspect we will see some ISA money landing in here too The independent bill being debated by the PBP carries absolutely no legislative weight and it's "business as usual" in the Petroleum Affairs Devision. The likelihood of bill even being entertained is slim, and even if it was it would take years to implement. Buy Op IMO

Good to know SR, and nice to see PVR management commenting favourably on the development through LinkedIn. Definitely provides increased options for servicing both the south west and west drilling programs. With government ministers and local county councillors involved in such developments, it seems crazy to think that permitting wouldn't advance in tandom. After all, one can't advance without the other.

https://media.radiokerry.ie/mediamanager/embed/player/#podcasts/9/item/69883 Things starting to ramp up offshore Ireland.