Member Info for shamI89

Not really, this was meant to be an "exclusive psc" and that is what was supposedly being discussed in talks with petros in March.Now petros has decided to go down bidding route.So what has changed their mind.Secondly now company is in discussion with second authority which has "final say".So something must have happened here.

So you have no answer?Good we are getting somewhere as we both agree petros have rejected their application otherwise they would not have gone down "bidding route".

SO WHY IS PETROS OFFERING IT VIA BIDDING?

No I dont think you are paying attention or you are deliberately ignoring certain things.

How am I making it up, they were in talks with petros in March for exclusive psc and now are in talks with state authority who has final say.So why have they turned to state?

That means you have no answer.But wait for Agm !

It does that is why it has rejected this application.As in these pcs companies who are awarded block spend money on exploration/production and goverment takes its cut out of profit.So if competing bidders offer more then why should they not be prioritized?

And what if goverment rejects UPL claim as why would they want to go against their own authority if it has solid reasons to refuse the application?

So it looks like this company would need to compete against other competitors for this psc and that is likely to happen in August 2025.So how would it fund itself until then and what if it fails to win that psc being offered?

So if statement fovernment refuses to overturn petros's decision it will be end of journey for upland resources would it not?

That is a bs, as why would petros give a revenue share to this company for nothing?if they split it between multiple bidders then each one of them will have to bear the costs and share future profits, but then that will contradict "exclusive psc scenario" that mug punters were led to believe.

My opinion is bod is not trustworthy, they should have released an RNS as someone cntacted them straight after that article was released, however BOD released a RNS and pretended nothing had happened, that backfired so released second RNS which failed to calm market down and then released third RNS which has confused market even more.If BOD had something to say they should have said it in last three RNS.They got nothing to say at AGM.

Nonesense, uplands made an application for "exclusive psc" ,petros decided to tender it through bidding and there are other competitive bidders.So why would they want to open it up to other competitive bidders if that apolication has been accepted?

Petros dont have "doubts" they have rejected the application.

Hiwever company was in talks with "petros" in March and them talks were in "final stages".So what is the reason company has turned to federal authority?

Agm as looks like BOD has nothing to say.Company needed to inform market straight after Petros rejected their application but sat on it until market found it out through article.Right now everyone should be aware of

That there is no such a thing as "exclusive PSC"

There are other "potential bidders"

Nothing will be decided before August 2025.

Main market is dangerous in a sense that nomad does not have to approve any RNS .COPL bod got away with a lot of bs and mug punters believed everything they were told.I had lengthy debates with them as well.Now all of them are trying to chase administrators for their monies.

It is a "co incidence" that a buyer tried to buy this company for 130 millions and BOD rejected that offer.However share price rose and bod used this opportunity to raise money.Funny thing is company has no asset but was happy to reject "a takeover bid".

I am not twisting anything, company was in talks with Petros in March, then petros decided that it wants to carry out further work until August 2025 and then offer it to competitive bidders.However now company is" in talks " . with Federal Authority who has final say to overturn this decision.

It is not "market speculation" it is a decision made by relevant authority.