Member Info for Jackastory

The way I see this is that the PSC is Upland’s and will be signed once all parties to PSC are agreed (none of this issue PSC and then farm in nonsense). Petros want to get going on this block development. (Other onshore and offshore blocks given by Petros to smaller companies have been slow going.) Upland has the rig ready to go when it has finished negotiating with prospective partners to the PSC at the behest of Petros, I imagine. That PSC partner needs to have the deep pockets to get going on a drilling and development campaign which Petros will demand whilst not leaving Upland with a low percentage of PSC . Hence Upland working through many offers and needs to find the right balance to appease Petros demands but also Upland as a developing company with aspirations. That is why the last para about ‘long term interests of all stakeholders’ is key imo

Just musings

For those new. He is the ex chairman. Left in 2018 to run Malaysian Olympic committee. Another super connected Malaysian large shareholder aligned to our interests who’s chucked in a further £2mn to his investment here

Shame about the convertible. That’s a big no in my investment criteria. They should really just cash in the Interoil shares when they can before they come crashing back down from whatever pump has happened there and use those funds rather than convertible drawdowns…

Anyway… you’re welcome. Will add to watchlist

Ps it’s £290k, you can’t apply a $ fx rate and then call it £’s lol

Ok if none of you want to bother looking at 01/07/23 release on Interoil website which states exactly how many shares were issued to ECHO or the 22/01/24 1:10 reverse split then more fool you. You can even see the shareholding as of 03/06/24 - Believe your x guy- £290k that’s what the stake is worth at 8.5NOK

I’m not trying to spin anything. I just saw the guys twitter post as he’s always posting on a share I like and thought it looked compelling. Turns out his posts were very misleading indeed

Go and look on the Interoil website it’s all there clear as day. Nothing confusing about it whatsoever

Nope you’re wrong I’m afraid. look at the share register on Interoil website. You’ll find the ECHO shares under Brown Brothers Harriman. It’s 482,459 shares

22/01/24 RNS under news 1:10 rev share split

Just doing some analysis on the value gap and this is completely wrong

ECHO received 4,824,591 shares of Interoil, those shares became 482,459 shares after a 1:10 reverse split from 200mn shs issued to 20mn shs. So at 8.5NOK or 60p they are worth c £290k, not c £2.9mn.

Expect more lumpy end of day buys to be reported. These sells being mopped up

LBE defo one to keep an eye on I reckon

For me , cheap onshore Sarawak drilling/dev much more appealing than expensive offshore Sarawak drilling for where these co’s are in development

I wondered if perhaps NK’s shareholding was stale and perhaps he had sold turns out completely the opposite and more involved than ever. Great RNS!

Popcorn at the ready to see how the naysayers try and spin this one. Follow the Malaysian money feels like an apt phrase

The placing was always going ahead. It was ‘completed’ on 26th April. read RNS

Obviously the shares couldn’t be admitted to trading on 6th May as was a bank holiday (ok oversight imo as every other market was open) and the shares then being suspended.

This RNS reads that results will be in next day or two and then we will relist after that once FCA give all clear.

Let’s just hope some actual contract news and not waffle gets delivered at the same time. This suspension seems to have unnerved a few in spite of the clear blame being on auditor . Be a shame for people to bow out at this hour when we have cash on the sheet and an evolving plan

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?