Member Info for lovelife

UPL have no control over when the PSC is awarded, this was made very clear. What is new information is that PETROS is looking at the wider region around SK334 and this has become the main focus currently for PETROS. This region is going add 6+ new blocks that will be available for tender or allocation. The BOD seemed very relaxed about SK334 and its allocation due to the amount of work they had put into the area and it’s long standing relationship with PETROS which apparently has only ‘gotten stronger’ plus when you add in the relationship with the government it all seemed pretty solid. When you add that UPL have put at least 4 years of work into the area (if not more into SK334). What was interesting that the joint studios done with PETROS these are ‘legally’ binding between the two and cannot just be handed over to another company. Plus UPL have done additional studies to backup the original work and it only confirms what they already knew about the findings. If the PSC was to be awarded to another company it would take them at least 2 years to get to the point of drilling. UPL are ready to go, everything is in place to drill. They even have the ‘X’ marked on the map to drill! Ok so even though UPL do not have control of when the license will be granted. That doesn’t mean they may not know when it will be issued? It was very clear what they called the ‘regional’ study and new blocks is taking priority. My gut feeling in the next few months information and allocation regarding these would happen. Does this mean SK334 would be given as part of those awards? If not my feeling was it would be very close behind. I asked about who makes the final decisions on these awards and the answer was the government. Allocation will come through PETROS because this is the hierarchy of the system. Brunei was very high on the agenda of discussion at the AGM. Why? Because there was very strong feeling that they are in the running for the allocation to drill here. The studios carried out cross over into the region and very good discussions have been had regarding drilling here, hence our new board member and his connections to the country. So don’t be surprised if the green light happens quicker for Brunei than Sarawak due to the country’s working differently (this was my understanding)

For the record I’v been in for over a year and am heavily invested for me, down on my investment which is fine for now. Happy after the meeting to be patient and wait it out. The rewards could be life changing for me ( but I’m not reliant on it ) so if it happens next month or by the end of the year I’m comfortable with my investment after the AGM. Hope this helps anyone

I went to the AGM as mentioned before and have no problem sharing (my 1st time to the AGM) I’m not understanding this get there yourself mentality. If I wasn’t able to make it then I would appreciate as much information as possible sharing. If you have 1 share or a million it makes no difference to me.

I did ask about the hierarchy within the system which they found quite amusing. They made it very clear that it is the government who make the final awards a PETROs are part of the facilitation process (for the want of a better word) the relationship we hold within government is held very highly with, the expertise on the BOD is a great asset so we are In a good place. Also the relationship with PETROS is good. I did ask these questions for clarification

Time scale UPL has no control over but once the green light is given they are set to go.

From the article written last year on PETROS’s website it looks like they were aiming to release information on tender etc in Aug 2025 ? So if that is correct hopefully the information we are all looking for will start to come out and allocation will begin.

Good summary……this is what I put in a group chat last night with a few bits edited out. Ok my understanding is that PETROS has been undertaking some studies but this apples to the wider region. It looks like the area surrounding and separate to sk334 is going to be divided up into 6 + areas that will be put up for tender and allocated. Sk334 is separate to all of this and UPL are the only ones to have the studies and the ground work on Sk334. This information gathered by UPL and PETROS is only privy to them and legally held within these two companies and PETROS is legally bound not to share these studies. If SK334 was to be given to another company they would have to do the studies from scratch. This process would take at least another 2 years. Our CEO is very close to the premier (this is my interpretation) . So it looks like the information will be released as a batch allocation with UPL getting SK334. Also block L is adjacent to SK334 and there was a sense that due to the studies crossing both block sk334 and block L we are in the running for this to. Regards time scale it was very difficult to tell.

Please don’t revert to name calling and petty jibes. All it does is clog up any serious points and play into negative hands. Ps negative conversation isn’t bad if it is healthy and backed up with hopefully some good genuine information.

MM’s very quick to drop the price this morning, lots of buys coming in but resisting taking it back up. Fingers crossed this comes good. Would love to have more information on the RNS from last night if anyone knows anything?

Smile ! Not smoke 😂

I’m for one now interested in this date. It gives the share a random interest which wasn’t there before. I’m fed up reading about PETROS & Petronas and what the political landscape is. So a random date put out there by someone at least gives a small glimmer something may happen soon. It maybe and idle ramp. But does it really matter??? Smoke and go with the flow. Fingers crossed for news soon though in all honesty. Can’t be far away surely. I have confidence in the share but here’s hoping I’m not a fool.

Basically the price buying level has ticked up....So indicating the next price range is higher.

I suppose the opposite is 'dropped' down a level. 🙃

hoping for substantial news soon

Thanks for the update, I did miss that. Interesting quotes to have put out. Not something you would re-post unintentionally. On the jungle drums (which obviously always come true ! 😂) it has been mentioned that we are due for positive news and communications going forward! Asap. GLA

It will need some steady confident news flow pre PSC over the next few weeks to get to that. But not impossible, depends what they say

Https://dayakdaily.com/putrajaya-sarawak-reach-consensus-to-resolve-petronas-petros-issue-ensuring-no-loss-of-respective-rights/

Makes for a confident read all is on track with the politics.

This is news from a few days ago & just relates to holding payment until all the finer details are sorted on where payment goes over a short period of time (PETROS or Petronas). Shell just wants to get it right without having to go and forth. Makes sense.

NCTrade......I think most are aware of the political wrangling that happened in Sarawak. I think it's pretty fair to say that the BOD pretty much had their hands tied during this period of negotiations. It was very unfortunate timing because UPL were ready to hit the ground running. Obviously that put all the plans and schedules on hold. I don't hold the BOD responsible for this. I believe they have communicated what they can, but with no new news since the pause what would you like them to say......Anyway it looks like the politics have been sorted & all involved can move on. So looking on the positive this move in the share price hopefully indicates people know something & new's is on the way and the handbrake can come off!!!

I'm sure the BOD will inform us all in due course of the companies future. (It's very interesting that the negative posts started appearing here a few days back & now we are starting to see a share price move, almost like some people knew information would be hitting the market soon??? curious that 🤨)

Positive progress

https://x.com/jeff4malaysia/status/1886999078858580118?s=46&t=eW2iEZTx5fpErS7DSzX3Cg

Interesting article worth a read

https://www.nst.com.my/business/corporate/2025/01/1160051/towards-equitable-growth

A lot of buys yesterday and strong buying today (ignore the red coding) it does feel like something is brewing. Hopefully more in the know out there than us.

‘Market makers’ who set the spread between buy or sell etc 5% 10% 20%

Sorry sells !