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Volumetric resource analysis exceeded #UPL's expectations which we will detail in the coming weeks.
Petroleum Reservoirs at SK334 could be present at several stratigraphic levels, especially more deeply buried structures.
Source rocks & seal presence are considered very low risk
Although very frustrating and I have been on a paper loss before, I think in the next 12 months your be fine, meeting today in Holland and hopefully rig/jts news and psc to arrive very shortly. Gl
It’s about risk:reward the board themselves have skin in the game and believe this could potentially be a billion pound discovery.hence why they didn’t even consider the fake bid .When it’s valued at say 30-40 million and funded throughout this year and early next no funding required imminently.The study programme is expected to be completed also by end of 2023.completion of the joint venture agreement between Upland’s wholly owned subsidiary Upland Resources (Sarawak) Sdn Bhd (“URS”) and Big Oil Ventures Sdn Bhd (“BOV”), the joint venture partners will fund. I understand things can go wrong but do you think upland would be deciding on rig selection if psc was not almost a certain.I believe they are in Holland now, be nice if they where in Hague (if you know what I mean) The board have been working with petros and I personally see the psc coming very soon.Estimates suggest significant hydrocarbon resources comparable to neighbouring billion-barrel Seria field with low cost low risk and high impact. Each to their own but this is a top buy at the current m/c imo good luck what ever you decide.