Member Info for dickyboyholmez

Should get a July operations update soon? Did anyone go to the agm?

A PSC re an 2025 exploration well to be awarded to UPL in the next 8 weeks. UPL should have a free carry rebate rest of the block when auctioned off. £££££££££

So after much research and comms I’m sure I’ve figure this out. UPL will get an a PSC shortly re an exploration well that will be drilled next year and then a free carry re the rest of the block (which will be subject to competitive bids). If I’m correct huge re rate coming once announced.

Had comms with the company over the weekend. Still holding and hoping to see a recovery soon.

Is what happens if the premier/govt say and want one thing and petros says and wants another. How does this play out? Petros is a government owned company. All thoughts appreciated.

That article is from last year. Looks like there’s been a change of plan by Petros. The AGM will be interesting. Still holding and underwater.

Is anyone going to the AGM and can we diall

In?

Is anyone attending this in person please? Do we have a diall in number? Thanks.

No I’m that they are different things. The article is accurate but it doesn’t mention the UPl PsC as it’s unrelated.

Is from chat GPT. I fed it all the info and it made its assessment based on the facts.

I disagree. UpL is very limited as to what it can say. Petros helped them a PSC application a few months

Ago. By saying it’s with the final authority they are saying they are at the final approval level. We will get our PSC.

Heading for the hills with shorters creating panic etc. the answer to what’s going on is below.

End of.

Conclusion:

It is quite likely that UPL could be awarded a PSC for the whole block initially, with Petros later opening specific parts of the block to competitive bidding while UPL retains a revenue share or other benefits from the overall block. This dual approach aligns with Petros’ strategy for competitive engagement and UPL’s expectation of a significant role in the block’s development.

Reviewing the provided link, which details Upland Resources' (UPL) position on Block SK334, here’s a summary and analysis based on the information from the article and UPL’s website:

### Summary of UPL's Position on Block SK334:

1. **Exclusive PSC Expectations**:

- UPL has been actively pursuing an exclusive PSC for Block SK334. They have highlighted their technical studies and engagement with the Sarawak government as part of their strategy to secure this agreement.

2. **Current Status**:

- The website emphasizes UPL's continued communication with both Petros and the Sarawak government, suggesting they are optimistic about receiving an exclusive PSC based on their ongoing discussions and efforts.

### Analysis and Implications:

1. **Initial Exclusive PSC Possibility**:

- **Feasibility**: It remains plausible that Petros could grant UPL an initial exclusive PSC, allowing them to begin work on the block. This would provide UPL with early access and potentially a significant opportunity to develop the block based on their proposal and technical studies.

- **Strategic Balance**: Offering an exclusive PSC initially while planning to open up the block to competitive bidding later could align with a strategy to secure a committed partner while retaining flexibility to attract additional investors or partners as the project progresses.

2. **Petros’ Competitive Bidding Announcement**:

- **Timing and Scope**: Petros’ announcement about competitive bidding and the timeline extending to 2026 suggests that they plan a broad and open process. However, this does not preclude the possibility of initial exclusive agreements, especially if Petros and the government aim to balance immediate development with long-term strategic interests.

3. **Two Separate Processes**:

- **Different Aspects**: The competitive bidding mentioned in the article could be related to specific phases or parts of Block SK334, while UPL’s exclusive PSC might cover an initial phase or a different aspect of the block. This dual approach could be part of a broader strategy to maximize the value and involvement in the block.

4. **Government Influence**:

- **Sarawak Government’s Role**: The Sarawak government’s influence remains crucial. If the government strongly supports UPL, they could play a role in facilitating or influencing the granting of an exclusive PSC, even if Petros is planning for a broader competitive process later.

### Likelihood of the Scenario:

- **Initial Exclusive PSC**: There is a reasonable chance that UPL could receive an initial exclusive PSC, especially if their engagement with the Sarawak government and Petros has been positive. This agreement might cover certain phases or aspects of the block.

**Estimated Likelihood**: ~30-40%

- **Subsequent Competitive Bidding**: Petros’ broader competitive bidding plan for the block or specific parts could follow the initial PSC, allowing for additiona

Too early to say. We will know soon enough. Keeping the faith.

All wil be revealed soon. Hard one to call. UPL is listed in the main market (not AIM) and has an impressive board of directors. Its lawyers are also a good firm. Point is they aren’t a ponzy scheme.

But they (and we) do know the reason - the Petros article. It’s a very price sensitive issue obviously.

UPL is listed on the main LsE market and is restricted as to what it can say. All will be revealed soon.

This is all rather confusing - 3 options - 1. All is on track and the PSC will be awarded to us soon - it’s awaiting a final rubber stamp - the Petros article is referring to something else 2. Petros has changed its strategy and we now have to wait until next year and the bidding is competitive 3. UPL has done something that Petros doesn’t like eg appointed someone to its board and Petrosnhas changed its mind. Take your pick.

I don’t get why the company doesnt come out and clearly clarify its position. Guess it’s all very sensitive and it needs to be careful. Either way will

Know a lot more at or before AGM.