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There's been collaboration with Brunei for a while, but it hasn't amounted to anything concrete yet.

Couldn't comment on the company's prospects at the moment as it would be pure conjecture, which is my point really.

We don't know definitively what is going on with SK334 and yesterday's RNS made reference to Upland's expansion in the region, without giving any detail.

Yesterday's RNS has reinforced the disconnect between recent comms and what is actually known about the company's near-term prospects, which the market is punishing.

It's a difficult situation for shareholders to navigate.

No idea what the rationale for the six month extension is, other than allowing PDMRs flexibilty to exercise their remaining warrants. Point being that there could be a closed period at the moment which is not related to annual reporting.

My reading of the Expiration of Warrants RNS is that there is deemed to be a closed period at the current time (including the run up to 28 February) which is restricting the exercising of warrants by PDMRs. This is purely conjecture, but it ties in with the 21 February RNS:

"A lot of hard work has been done behind the scenes and we look forward to announcing current developments." UPL RNS 21/02/25

'A closed period is a period of thirty calendar days before the announcement of the annual or interim financial results or any period where there exists any matter which constitutes "inside information" in relation to the company.'

UPL annual report deadline is 30 April, so there would only be a closed period leading up to 28 February for that reason alone if the company is reporting soon.

Interesting that the exercise period for warrants held by officers and directors will be extended for six months.

Good posts/insight dougb189.

The question at the moment is whether Petros becoming the aggregator for oil and gas in Sarawak from 1 March is the crux of the matter for Upland.

'Looking forward to unveiling developments in the surrounding region.' - UPL X Post 14 February

'A lot of hard work has been done behind the scenes and we look forward to announcing current developments.' - UPL RNS 21 February

I suppose that's the dream scenario StockCheque and the company did say a while back that it was not planning to fund a drilling campaign by issuing new equity.

RNS comment reads as no raises envisaged throughout 2025.

Also, it has clearly been key for the Federal and Sarawak governments to iron out areas of potential dispute before new projects in Sarawak begin.

“But the most important aspect is ensuring that projects in Sarawak, particularly new ones, whether explored by Petronas or Petros, involve close and solid cooperation between the two entities in all fields"

Ha! - good one.

Dr Damit's Linkedin lists him as Head of New Business Upstream / Chief Geologist for Petroleum Brunei ... and he also organises and leads geological tours in Brunei and surrounding areas of Borneo (Borneo Geo Tours), which is nice.

Embarrassing news for CWR today, which potentially opens the door to a low-ball takeout. Not good.

"Looking forward to unveiling developments in the surrounding region."

Block SK334 is part of the surrounding region and 'Looking forward to unveiling developments' can only be construed as positive, so the company has to deliver this time.

GLA

Solid couple of days - interesting.

GLA

3.75m trade late reported - looks like a buy.

Buyers still buying - positive.

Thanks for the Lanstead Agreement explainer post Dallo.