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Thing is it’s really looks like a tiny nothing sort of deal to “a Canadian investor” - why would they bother - why would WH be talking to them? Surely there must be something more for them to be interested in giving this level of deal the time of day? Why aren’t eog naming them? Seem a few loose ends at present - may be nothing - may be something.

Https://www.proactiveinvestors.co.uk/companies/news/1071635/europa-oil-gas-ceo-on-us-500-000-revenue-swap-deal-for-wressle-well-1071635.html

Yes I imagine that the SP may remain quite “jumpy” while we get any further updates.

@Art. The inter-state dispute over the respective roles of Petronas/Petros in Sarawak has been seen as freezing any regional Gov decisions on O&G. With this year long dispute finally resolved things could start to move again in Sarawak.

Read “Wressle 2 development”

@fd20 - it could mount up but they are also taking a risk on Wressle decline rates - and the loan is unsecured, so looks a reasonable deal. I agree it’s slightly odd that the consideration is upfront but we began paying for it start of May. Has announcement been delayed - if so seems there might be some kind of link to Wressle as that’s the only recent news.

Presumably there is a reason why they are being coy about naming the Canadian company?

Here’s the link

https://m.northlincs.gov.uk/appdl/api/download/PL/?id=2294665&api=northlincs&apikey=1x4sjLvYz80ckqPOG%2fo2co5gpHc%3d

VL - can you explain more or provide a link as not understanding your message?

Just admin. The options the management bought are going to be registered as shares a day earlier than originally stated. As the new shares have been bought by management they are clearly not going to be sold - as some have tried to suggest - so not significant other than UPL have an extra £0.5 in the coffers!

When it’s been about 2 months since anyone paid that much for a share - you’ll take anything as a new dawn! On a more serious note, I wonder if there is a more significant push on re Ireland which might be attracting more positive attention than usual? Still desperately need company to say something tangible about progress.

As we’ve gone back to sharing info here ….Also came across this article which provides a bit more context (beyond the official site listed in the rns) on the offshore blocks that Upland Big Oil has been shortlisted for.

https://www.upstreamonline.com/exploration/brunei-unveils-first-licensing-round-for-more-than-a-decade/2-1-1780413?zephr_sso_ott=j4ZUB5

Not surprised they see it as a mark of recognition.

Having just watch the Gov Minister on that talk show, I can’t believe the current Gov would obstruct a wanting to drill for gas legally under current licences. I hope eog forward it to all potential partners and help facilitate a conversation with the Gov. For the Brian haters here, to give him his due he was head and shoulders above anyone else on that panel, if maybe a little too polite not to interrupt and correct Ryan’s distortions firmly enough!

@LP yes probably right to be cautious until it’s clearer if the DW termination was related in any way to the Tune holding - all we know for now is that the record shows no sign of sales and they had 0.93% they could have sold already at higher prices before having to rns crossing any thresholds - they must have been aware of the additional Brunei push for months or years, if that’s supposed to be the reason! But there seem to be enough posters around the boards who seem desperate for the SP fall, so there could easily be other explanations for the price not rising yet.

@LP. As well as Bohassan now holding close to 100m shares, the updated list of holdings shows that Tune’s holding remains unchanged - so no sell off by other big holders as was being claimed.

https://upland.energy/significant-shareholders/

Yes it’s what they said - you don’t have to believe anything any company says - but here it makes a lot of sense to anyone who knows the geography of the area and the UPL history of cooperation with Brunei over SK334.

April 2025 update:

With regard to Brunei, we want to be clear: our activity there is not a pivot away from SK334. Rather, it

complements our work in Sarawak. Our targeted position spans both jurisdictions, and developments in

Brunei are part of a broader basin-wide strategy that supports and enhances our commercial positioning

and future growth potential.

Am reposting my views from yesterday as they have been deliberately buried by the usual. Most investors feel very positive about the update which is of course why those who want to talk down the company are working overtime to swamp such views. Suggest others (@adam) do the same and don’t bother to engage.

Adam, yes Friday was a real step forward. As a cynic never know if silence is a sign of nothing happening, but in this case these guys seem to have been really busy. Rather than just sit and wait for SK334, they have leveraged their contacts to make a move for the adjoining block in Brunei and built credibility by getting considered for the shallow water licensing process. They also obviously have a significant potential partner lined up based in KL who could support with SK334 and presumably Brunei as well. Plus they are continuing to build those relationships in Brunei. Like any business it could all end in tears, but right now seems to me that they are really growing their potential in Sarawak and Brunei. I suspect now they have revealed what they have been working on, we may get more regular updates on progress.

Adam, yes Friday was a real step forward. As a cynic never know if silence is a sign of nothing happening, but in this case these guys seem to have been really busy. Rather than just sit and wait for SK334, they have leveraged their contacts to make a move for the adjoining block in Brunei and built credibility by getting considered for the shallow water licensing process. They also obviously have a significant potential partner lined up based in KL who could support with SK334 and presumably Brunei as well. Plus they are continuing to build those relationships in Brunei. Like any business it could all end in tears, but right now seems to me that they are really growing their potential in Sarawak and Brunei. I suspect now they have revealed what they have been working on, we may get more regular updates on progress.

Good to see them moving on Brunei - a long time in planning as they say.. BEST were sharing details of unrecorded oil seeps from this area back when they were completing the study on SK334, so an obvious area of interest as likely all connected.