RE: Current status15 Aug 2024 13:34
TGNGEE you can look at most boards on LSE and you will get very similar characters playing very similar roles. NC is a very positive holder and in a way you have to be, but I do agree that blanking out the negatives is unhelpful and unhealthy. You then get your disruptors like Shambles who don’t know any facts and just post drivel.
The BOD knows that we are all craving the PSC or at least some timelines, but how are they meant to do this when they it’s currently out of their hands?
I hold here and I accept it’s a risk. If the government are awarding the PSC, they could still say no to UPL. They could also decide to support the group that they set up, PETROS and allow them to run their tender process. In this instance you’d hope that UPL would be well placed but again, it’s a gamble and it would also take much longer to award.
My belief is this. Bols relationship with the govt is strong. I believe that the govt will be awarding UPL a PSC for an area that UPL have already studied and one that they know will produce. The govt are under pressure to start getting this industry running and making money and they know that UPL are poised and ready with a team and can deliver. I think the govt will award the PSC in 2024 for this reason.
It is obviously a very delicate negotiation that is taking place hence UPL cannot give any assurances or timelines. This is frustrating but it is the reality of the situation. If you are in this share then you are in it based on trust as opposed to hard facts/assets etc. it’s that simple.
It is a gamble but if the PSC comes through this will climb very quickly. On this basis I get why many have sold over the last 3 weeks, but I believe.