Member Info for stuartv

Not sure as an ex investor you are poisoning this board. I know you sold out your holding in UPL. Fair play and good luck to you. I also have a small holding in LBE ( I love your positive insights on that board). But for gods sake please leave us alone.

Just a thought. Unless there is absolute hatred and Petros want to literally rub UPL’s nose in the -hit why wouldn’t they award the PSC. If it is not forthcoming and the decision makers in Petros have no intention of awarding the contract they must be a bunch of barstewards. Sitting back and laughing their gonads off as they watch UPL booking, recruiting and spending. It’s coming guys.

Excellent post Stock. Absolute logic 👍

Under Section 6 - “PSC Submissions and Regulator Engagement “ According to plan due to conclude Aug. Interestingly shown a couple of rows below ref to “Sovereign State Collaboration” also to commence Aug. Suggests PSC and JV/Farm out docs will be signed off by then. Sovereign State Brunei 🤔🤔. Hopefully not long to wait.

The block will require massive funding . Contracts being concluded to cover this. PSC sign off will follow on quickly after that.

Sold subject to contract, or sold STC, means that the buyer has made an offer and the seller has accepted it.

Noticed on X you recently sold out of UPL for LBE. 🤔

It was never personal Mr C. I always reserve judgment with regards to posts on these boards. That said lots of genuine guys on here as well. Posting history is my guide.

Starting to lean more towards Saint than Sinner Mr C

From the BEST website:-

In the dynamic world of upstream energy exploration and production, where our sister companies are at the forefront of unlocking the potential of oil and gas reserves both domestically and internationally. As partners in producing blocks operated by major industry players, we are committed to driving excellence and innovation in every facet of operations.

Through strategic alliances with leading oil and gas operators, we have secured a foothold in producing blocks in Brunei Darussalam, Canada and Malaysia. In the domestic landscape, we are actively engaged in maximizing the potential of the blocks, contributing to the nation’s energy security and economic prosperity. Internationally, we collaborate with our partners to unlock new frontiers and capitalize on emerging opportunities.

As proud partners in upstream ventures, our sister companies embody the spirit of collaboration, innovation and responsible stewardship.

Your either a saint or a sinner Mr Chambers 👍

Bid

I can’t see what’s really changed between yesterday and today. Maybe holders are getting impatient waiting for the PSC to drop. Hopefully settling down now. MM’s quoting 2.88 on the Ask.

Someone doesn’t like this post. Petros in town - interesting stuff

Thanks Zengas.

Interesting post. See this got deleted earlier.

Interesting reference on page 7 of UPL’s annual report:-

On 13 April 2024 the Company entered into an agreement with Huisman Geo BV whereby the Company 2 pays to reserve availability of 2400-6 drill rig for a term of 3 months, extendable for a further 2 months.

Drill anticipated by Sept ??

I guess they’re holding it back until news of the PSC drops. Clearly the Malaysian investors are not overly concerned about its lateness.

🎶 👂👍 😉

Welcome to the board Joe 👍