Member Info for Thunder2040

Happy bday..I feel your pain, the Trump effect may be at play, he wants oil costs down

Is this actually it, so many false dawns I think there is a case of Peter and the Wolf about it all now...we live in hope

I got filled about 65p level, bargain if oil exports via pipeline recommence

Exactly, how can 140p be undervaluing and no one on board puts hand in their pocket at 70/80/90p... basically ridiculous.

The offer period remains, also why did the board not feel the need to tell us when they were approached with an all cash offer above Volex bid..I have to say it's my pet hate. I still think this is a prime takeover target and way too cheap.

Lot of gaslighting in the market these days, not sure how they get away with it. There is categorically no way this shouldn't be flying today.

Rather muted. It's valued at half what it was months ago with record performance and prospects..go figure

Petroleum Sarawak Berhad (PETROS) is a state-owned oil and gas exploration firm established and owned by the State Government of Sarawak.

I'm also not even sure the distinction between Petros and government of Sarawak either...Petros is owned by the state, so surely the fact we are still in negotiations with state government is at odds with what Petros published.. baffling.

Has anyone had a response from the company when asking about Comms or an update?

I am presuming the large trade was a buy also but of that I'm not sure either.. not reading much into it, I think that's what lack of proper management Comms does to investors

It may have been that until it was resolved Petronas were wanting a share of a PSC I don't know. I think the biggest thing that needs sorting is the logic of Petros's rather odd stance towards outward investment and exploration

I don't know about NDA but given how much was communicated to the market already about discussion hns is there that much to keep quiet about? Personally I really am at a loss to explain Petros actions, but I also think company needs to give an update, well overdue now..even if it's just a reiteration of negotiations ongoing. Onshore wells don't cost that much to drill so I really think they are overthinking this massively

Logically why spend a year doing seismic and spend a load of state money doing that when you can get a drill done in months to prove up the block at low cost by the team that did the last research on the block?

I've been doin my own research into Sarawak. There is already one psc between Petros and a Malaysian oil co called Petra Energy. As per the article below:

"The state government awarded the contract to Petros in July 2021 under the Sarawak Mining Ordinance 1958."

https://www.malaymail.com/news/malaysia/2024/04/15/sarawak-premier-confirms-encouraging-oil-discovery-by-petros-in-block-sk433-within-miri/128977

This is consistent with the state government being the ultimate authority as referenced by Upland. Petros was founded in 2017 and acts on behalf of the state government.

Furthermore this article from Petros explains that Petra are using 75% Local contractors on that project which is again consistent with uplands proposal.

I think the rationale for allowing Upland to drill this year is very strong and still expect a psc to be forthcoming.

All in my opinion.

Agreed if heaven forbid they start growing again this will bag

At 1.6x EBITDA net debt would be £134.4m if my calculations are correct. Now seems far too cheap with no more acquisition costs in the pipeline either

Not much discussion on the actual scientific or commercial implications of the last RNS. Are we to assume that the quantum dot laser power connectors will be used in all new power grid expansions for AI? It's very hard to grasp the size of the market. The Taiwan disposal or IPO is a catalyst within the next 5 months that could see a £100m valuation realised just for the Taiwan sub..so I think current valuation looks rather conservative personally.

I wonder if IWE should really be considering a US listing in light if this news

Tbh I think they should have reiterated guidance somewhere along the line between these two RNSs, they do ask investors to take a leap of faith sometimes and it's reflected in the low share price

Https://m.economictimes.com/industry/media/entertainment/media/netflix-hikes-content-budget-to-18-billion-for-fiscal-2025/amp_articleshow/117461349.cms