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Just read the RNS’s and largely ignore these boards. There is so much deceit on here and x and none of them are long or short just don’t want to see a success story outside of their failed portfolios
Arthur- what response did the board have to your latest questions? Don’t be shy drop them a line
I hope this stays suspended all the way until we have a PSC/JV and funding terms all agreed so all these folks trying to bring down the company by misrepresenting every RNS can bleat away to no avail.
This goes two ways. The market will love it if some actual material PSC news etc comes before suspension lifted or hate it if lifted without material news. At lease it means the incessant attacks by envious folk on x etc are now ineffective in their goal
Anyone dispersing MNPI of a placing ahead of said placing is looking to damage the share price and the terms of said placing. The guy is not on your side. Be careful
Why are you ranting on here and not asking the company. Doesn’t make sense
Arthur
You seem quite close to proceedings. Presumably you have raised these concerns with the company? What was their response?
3.3 is a 15% discount to 1 month vwap of 3.9 That’s exceptional for a company who have yet to sign a PSC.
So you just read ‘fully funded’ and ‘well financed’ and ignored the rest of the context in the sentences. You’ll never make5mil if you lack basic comprehension. No offense
That’s not true. Where does it say ‘Fully funded’?
‘Well financed to meet its work commitments’ is what was said in January
They just put a deposit down and reserved a drilling rig. You think that was chump change? You think that’s a work commitment or part of the big boy next stage?
Would you have preferred for them to have lost their chosen rig to another company because they are not in a position to pay the deposit until they have the financing PSC partner nailed down?
Smart money don’t throw money away. To get this placing done to so few individuals at the price the stock was trading at less than 3 weeks ago and without a confirmed PSC they must have wall crossed them with some pretty juicy MNPI. Wouldn’t you think?
The narrative on these boards is completely delusional
There’s a lot of bitter retail punters who are in this space and missed/ watched this company quietly build a business in Sarawak and didn’t invest. They are desperate for it to fail because that’s how envy works.
Last musing - how the hell did they get off a placing with no PSC etc at a £50mn valuation to smart money at a price the stock was trading at less than 3 weeks ago
What needs explaining? The PSC and everything that comes with that is not ready to be announced as we are still evaluating partners that will give us best terms and are not yet exclusive. On Monday 22nd in order to be ready to crack on Upland Had to put a deposit down for the rig and following that they have done a decent but not too dilutive placing to a few smart investors to shore up the balance sheet. That means we are financed up to and including first drill.
The market should love it but there could be a brief opp Monday morning if you’re lucky
Read the last 2 RNS’s
Read between the lines on here and X. Last chance for some folk at getting a cheaper entry now we are capitalised to 1st drill
Ask yourself what conversations the company had with this handful of smart money to get the placement away with no need for anymore silly warrants either
and don’t forget they just had to put a deposit down on the rig.. Money doesn’t grow on trees
A value accretive placing that few seem to understand. Guess that’s what makes markets
I think the market will digest this and respond well next week. A small but necessary placement to allow focus on the prize
Prudent to put $4mn on your balance sheet whilst negotiating with partners I would think and with only 3 quality placees. That’s a win for me
Lovely seeing these photos today. Fills me with confidence. Wouldn’t a successful purely Sarawak based London listed E&P company be a great ongoing reference in trade relations between UK and Sarawak.
Because Petros will be making that announcement first when it is time and then Upland will release an RNS fleshing out everything we have been waiting for
My guess is people sitting on profit's thought they’d be doing their end of year tax allowance trades into a PSC announced rise and instead we are in a holding pattern with not much buyers liquidity so these profit taking trades are weighing the price down. It’s presented quite the opportunity if you’re a believer in where this company is headed and get your timing right