Member Info for shamI89

You have got to love mug punters, Petros relevant authority is going down competitive bidding route, there are other interested companies too and this company has couple of failed drills on its credit.But mug punters believe that despite all of these Sarawak government is into chairty buisness and they will give these assets to this company who cant even fund an exploration drill.Long live mug punters long live.

Lol, as I said I cant see any investment case here,it is hot air that is driving the price.There is no asset,no psc and not enough money to even fund an exploration drill.Great fun until musical chair stops!

Lol says a mug punter who is sitting on 60/70 loss and is so despperate to break even that he has to post it on Bank Holiday Monday.A house of card is about to collapse as no news on horizon until August 2025 and that can be final straw.

Lol yes but he called it right as if you had listened to him you wont be sitting on 60/70% loss;.

Lol you fully know what can happen as you wont be sitting on 60/70% loss.

Lol as I said what shall I call someone who admits that there is no asset, no psc and not enough money to fund a drill but everyone should pile into it because he has taken a position.Musical chair will stop as mug punters will realise at some point that game is up and BOD has conned them.

But look at some mug punters who got in for a quick trade and next thing you know are nursing 60/70% losses.

Why would I want to take a position when it has no assets and only hot air is driving the price .These sort of shares tend to be good until mug punters can be lured in.

Not really I am happy to debate but......

Many trapped mug punters who got in for a quick trade but that article about petros busted this bubble and share price has fallen by 60/70% since then.Mug punters were led to believe that this is an "exclusive psc",however according to that article Petros is going down competitive bidding route which only means two things either application for "exclusive psc" has been rejected or Bod was lying.BOD was asked to comment and they did not deny contents of article but tried to hide behind vague words.Irony is most of these mug punters are sitting on 60/70% losses and know it is a con but would try to lure in new investers to get out....

Company did not deny it so it must be true.

They are trying to tender it via bidding in August 2025,it looks like there are other interested parties too.

Following the completion of the Joint Technical Study in December 2023 the Company has been in communication for some months with the Sarawak government and Petros pursuing the Company's interest to participate exclusively in a production sharing arrangement in respect of Block SK334. We are in continuing communication with the Sarawak State Government, the final authority for awards of Petroleum Sharing Contracts for Sarawak Onshore Assets.

Company released an RNS after that article and only mentioned Sarawak state government.Does that mean that "petros" has rejected their application as company worked with both of these authorities

@Leafie how can it be an "accusation" when company has said it on various occasions.There are a lot of skeletons in this cupboard and BOD needed to update the market after that article.Meanwhile who is dumping shares in large tranches?

Lol and relevant authority is saying that a decsion will be made in August 2025 and it would be tendered via "competitive bidding" so what is investment case in here as why would they offer it to a minnow like this which neither has money nor experience to develop it and why should they not go for sometone like shell or BP?

Not really, initial application was made for "exclusive psc" or that it what mug punters were led to believe.If petros are going down "competitive bidding route" then that means that either application for "exclusive psc" has been rejected by Petros or BOD was lying.

When that article came out,company was asked to comment on it by private investors, in first RNS company did not bother to comment, in second RNS company did not deny anything Petros had said and in third RNS company stated that it was in talks with Sarawak government authority.Then we started having these "TR1 " .BOD had a chance to lay out their cards but they have not got anything to say.As far as PSC is concerned it is over as dont think it will get very far when major players are Shell,BP and others are involved.

You need to read that article as Petros has given that deadline because they want to carry out some work on that before tendering it via competitive biddibg.But again mug punters wont be mug punters if they can use their brains.

This company has nothing until a psc is awarded,good we are getting somewhere.

Funny thing is "Petros" official authority has given an official deadline of August 2025,while mug punters are expecting an exploration well within a month or two.Not so long ago a mug punter came up with an idea that this company does not need to drill an exploration well as we know oil is there.Comedy gold that is.