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@itsawrap. Tried looking up the production rates on NSTA site but seems very laborious and I could only get higher level figures reported in mb/d. This gave Wressle as 0.38 which fits, but Crosby Warren as 0.01 which doesn’t! Do you have a link to get to the more specific figures you are accessing?

Just seen that Egdon have completed the archaeology assessment and English Heritage have today withdrawn all objections to the planned pipeline. Perhaps now we will get a decision. 🤞

There’s the late reported buy appearing for 6 million yesterday to cancel out the previous day’s sell. Wonder who it was….?

Asked a few interviews ago what plans if any to workover current assets and basically Will said “not worth it, just managing end of life”- so puzzled by this AND the silence around it. Still it’s good news to cover the Wressle drop.

Wasn’t March figure 55bpd - I thought that’s what you reported before? Either way it’s great news to have reached 83bpd in May - why aren’t they shouting about this to us??? And maybe giving some forward guidance - so what if it’s dropping off for the rest of the year it’s still been a valuable contributor.

Slow motion chase at atm - need to show more urgency if they are to demonstrate they have what it takes to change fortunes here. EQ looks good but I’m not seeing Exec energy - late delivery of results, “coming weeks” for opening data room - why? New Board invisible as yet and not being proactive in using rns’s to keep us informed even when they are pushing ahead eg with Cloughton planning. Clock ticking - presentations good but need more formal comms to market.

That’s big and presumably someone exiting. Wonder if we will see a large delayed buy from today reported tomorrow evening, as we seem to have absorbed this pretty quickly.

This is Dixon

https://theorg.com/org/tune-protect-group-bhd/org-chart/dixon-wong

Founder of the Tune Group Tony Fernandez is a multi-millionaire and the Tune Group currently own 74.5 million shares in UPL

This Director particularly interesting. Never personally held shares here before. Was the Uplands FD before moving into non-exec role. Works for Tune Group one of UPLs early large investors. FDs usually pretty canny with their own money!

Sorry that should read SK334 - easy to get numbers back to front on these similar licences!

That’s a useful pointer 7veronic. From a quick online search I have found an article below from 2023 which describes the role of the State Gov in endorsing the PSC that Petros drew up with Petra. Also states how keen he is for drilling to start on SK344 in 2025.

https://www.malaymail.com/news/malaysia/2023/10/11/petros-petra-announce-commencement-of-first-onshore-drilling-at-block-sk433-in-miri/95627

Wressle not on the planning agenda for next week - so let’s hope it is delegated. I see they are building a data centre - so I hope they have done a full life assessment of the fuel burn required as these are heavy consumers!

Still getting comments in from authorities although seems well past the date. Latest comments from Flood protection and from Ecology - no significant issues raised. Still seems unclear whether this decision is under delegated authority or going to committee - or what timescale they are working to, but must be getting close to a decision or an explanation for further delay?

@Tovoc - if people trusted the minister to sign off on the various permits needed rather then endlessly stall them, I think the farmin partner would quickly arrive. Not much eog can do with or without the cash in hand before then.

Re EQ negotiations speculation - looking back at past presentations they were clearly intending to launch farm out in June - as late as end of May WH said “in a couple of weeks”. So why have we heard nothing? Is it slow pace or some kind of exclusivity agreement with one of the companies WH said we’re approaching them already? Personally intrigued but cautious after so many false dawns. Think there is something coming though as suspect they are in closed period as WH has been buying on roughly 2 monthly pattern since last October - but nothing end of May or June which would have continued the pattern. So ….

Tovoc - agreed. As Serenity showed however good the odds look, they are still only odds, so spread the risk don’t over commit to any one project. Better for shareholders to have 10% of 3 50/50 prospects than 30% of one. EQ shows how the odds improve with multiple prospects.

Don’t disagree but investors look for high returns from AIM not “fair valuations” on steady but low level revenue. EOG haven’t delivered on any of their high return projects since Ryan killed off the farmout of Inishkea arranged in 2019. If current management can prove that they can deliver value (ie a farm out) on EQ or Ireland then it’s a different ballgame and this could look a very tasty investment. If they can’t show anything by Nov this year then suspect investors will have had enough of high costs for no returns.

On reflection Crosby Warren is 100% Eog so this could make a considerable contribution to coffers - will await May figures with interest.

That’s a bit of a pleasant surprise, but I am always a bit wary of figures that jump all over the place. Still it should ensure we maintain our 200bopd average, if there are dips elsewhere.

Very difficult to know precisely.

1.End of Jan they had £2.7m unrestricted cash - since then no obvious large expenditure - a bit perhaps on Cloughton, something on EQ but this is recharged to Antler.

2. Based on NSTA figures (so 3 months out of date) seem to be roughly averaging 200bopd across all sites.