UPL or LBE11 Dec 2023 21:36
Looking at increasing exposure to Malaysia. I have an interest in LBE as they have multiple mega structures off Sarawak, biggest est at 9 TFC all underpinned by excellent 3D seismic. Plus access to $100M + finance facility, with mcap of only c£10M, UPL is 5 x the mcap of LBE so a lot more expensive, but is it a better play? UPL are further advanced drill wise. However LBE expects to give a H1 2024 partner update (Petronas, Petros). Interesting times indeed