Member Info for dickyboyholmez

I messaged him Monday but didn’t get a reply. Maybe in a spam filter.

What email address did you send it to please as I’m still

Awaiting a reply?!

I see that as a positive response. PSC isn’t dead and they are still progressing the other work fronts ie we still need as will be awarded a PSC.

Been in contact with the company please?

Else tried to email or call UPl?

I’ve given my view - I think all is on track - we will Know by the AGM latest. Is anyone going?

Is that the PSC is separate to the statement in the Petros article about opening the block up next year to competitive bids. Expect the PSC to be announced in the next week then we go forward together with Petros as the lead entity. We will then undertake the new technical work. I have contacted the company and asked for a reply. I bought more this morning.

I think all is on track. The PSC will be announced soon. It’s awaiting final sign off. They technical work and then next year parts of the block will be awarded to investors. UpL has a credible board full of experience and technical expertise. It’s listed in the main malarkey and had an impressive list of advisors. Let’s see.

The company didn’t know about the article at the time of the first RNS - it then rushed the second one. iMhO.

Upl isn’t an investor. It will be an exclusive partner from the outset. Very different things. A clumsy article by petros has caused confusion in the market and spooked peeps.

Because Petros is the lead party plus the PsC hasn’t been awarded yet. I think it was Petros article that was sloppy. Does anyone in the industry have any thoughts? I’m confident in my theory.

Fair point re just saying t I think they rushed the second RNS as it was unplanned and they probably thought it was obvious (they work in the industry we don’t). Happy to be shot down but I feel c70%+ confidence we are still on track. Why would they say final approval indicating that Petros has already approved the application.

I’m fairly certain that’s what it is. The production sharing agreement is on track and separate to the arrangement under which parts of the block will be offered to investors next year. We will be partners and will undertake further technical work and will then offer parts to bidders. The block is huge. Granted the RNS’ today were badly drafted but I think that’s the explanation. Expect a bounce tomorrow once we digest.

I think I’ve figured it out. The PSC is still in track and we await FINAL approval from the government. We then be partners re the entire block. We will then jointly offer parts of the block to competitive bidders and share in the revenue. I think that’s the difference here. All is ok people. All thoughts welcome but the more I think about it the more I think that’s it.

A thought - could it be that the exclusive PSC is different to what Petros is referring to as investors? Ie could we still partner soon with Petros and then we jointly offer the block to other third parties? Maybe that’s why there is confusion.

I maybe wrong but I’ve read through all the previous RNS’ company website timeline etc - the article from

Petros isn’t in keeping with all the material I’ve read. Either Petros has changed its strategy or the article

Has made a mistake. UpL needs to clarify asap. Please contact the board and ask for clarification.

Let see what the company says. All is not lost. There maybe be confusion eg a mistake by someone at Petros that needs clarification. If not, I’ll consider legal action. Thoughts all?

There are 2 key issues here 1. Exclusivity - we were lead to be believe we were going to be granted exclusivity and 2. Timing - the Psc was supposed to be imminent - now it’s the end of 2025 at best. Probably 2026 (as timing in OG usually slip). We need the board to clarify asap. Can we all please email (see website) and ask for

Clarification. Today has been a shambles. I’m

Still holding a lot of stock.

I’m a lawyer and have read and re read today’s RNS’ and the petros article. I was hoping to find something but have to admit it looks like we this is really bad day. The board need to be clear. What has happened here.

Is there offshore and onshore or is the block just onshore? Strange RNS again. Think it’s meant to provide comfort but is badly drafted. Thoughts all?