Upland Resources Share Discussion Threads

[argyle underclap] 13/7/2018 07:46

‘Don’t bite the hand that feeds u’ comes to mind

Full steam ahead

[2prsimo] 13/7/2018 06:23

"The latest move by the Sarawak government comes as Petronas continues to maintain that it is the sole regulator and owner of oil and gas activities in the country. An earlier bid by Petronas to get the Federal Court to make a declaration on its status was thwarted by technical issues.

Industry observers, however, believe that Petronas is bound to make another bid to maintain the status quo."

[doughty] 13/7/2018 05:46

...and yes...give Petronas some licences ( or renew existing licences )...tie them to the new way...let them take the king's shilling...but not for a measly 5%...those days are well and truly over ;-)

[doughty] 13/7/2018 05:40

I am trying to make a judgement on what info is available...we are living under a different rule of law and culture in the UK so its always going to be difficult to read between the lines...but Dr S has assembled a fantastic team and UPL is skewed towards operations in Sarawak due to board members etc. He has thanked investors for their patience on more than one occasion and I believe that the potential rewards for being at the vanguard of the Sarawakian upstream O&G renaissance are huge...well spotted Dr S...this is exactly what they set up the company to do !I am very excited for the next few months...and we have not mentioned Wick...or North Africa !!!

[divmad] 13/7/2018 05:25

I sincerely hope you're right, doughty. If you are, it suggests that Petronas may be first in the queue to apply for, and be granted, a license then. Interesting times.

[doughty] 13/7/2018 05:16

There is no claim from Petronas...licences can now be issued...I get the impression that Sarawak is moving full steam ahead and rapidly burning bridges...isolating Petronas and making it more difficult for them to resist...whilst also holding out the olive branch...clever IMHO !And remember SS...."things are moving on much faster than we anticipated"I think Sarawak has a plan and wants to get on implementing it asap !

[divmad] 13/7/2018 05:05

How long will this sovereign claim by Petronas carry on? Presumably as long as it is still in the offing, Sarawak will not go ahead with new license awards.

[doughty] 13/7/2018 04:57

It would appear that the law is passed and licences can now be issued ?Interesting last paragraph re Petronashttps://www.pressreader.com/malaysia/the-sun-malaysia/20180712/281754155087879

[doughty] 12/7/2018 14:30

Don't know if anyone already posted this ?



A clear sign that Petros and Petronas are not quite at each other's throats and that operations are planned

[soulsauce] 11/7/2018 15:19

Topped up here and the other U today while it's quiet.

[michaelwhight] 11/7/2018 13:29

On another matter, Taib expressed confidence that the state government would be able to manage Sarawak's oil and gas resources for the benefit of the people.He said efforts towards developing and managing these resources sustainably had been put in place, including the enforcement of the Oil Mining Ordinance 1958 and Gas Distribution Ordinance 2016 and the formation of Petroleum Sarawak Bhd (Petros)."This is in line with Sarawak's aspiration to become an oil and gas hub in the region and to collaborate with Petronas for the interest of Malaysia and the state," he said.As such, he said Sarawak's rights to its territorial waters must be preserved so that the oil and gas resources found there could be developed to benefit the state.Read more at https://www.thestar.com.my/metro/metro-news/2018/07/10/development-plans-put-sarawak-on-right-track-state-economy-grew-by-47-last-year-poverty-rate-dropped/#1rRtys31VIcGfuJE.99https://www.thestar.com.my/metro/metro-news/2018/07/10/development-plans-put-sarawak-on-right-track-state-economy-grew-by-47-last-year-poverty-rate-dropped/

[divmad] 11/7/2018 10:58

Managed to pinch another 100k at 3.00p early doors.

[doughty] 11/7/2018 09:44

If it takes so little volume to move this stock what will happen when we get news...and the interest really starts ?...rhetorical

[stark industries] 11/7/2018 09:43

Sellers thank you :)

[doughty] 11/7/2018 09:20

Am guessing a few are swapping back into TERN's 25% intraday rise ?...seeing it as a better short term home for their cash ?....risky business !

[2prsimo] 11/7/2018 08:10

false drop - you can only buy 50,000 at 3.1p

[thejaba] 10/7/2018 21:30

...an olive branch around the shoulder? Id rather the arm personally.

[argyle underclap] 10/7/2018 20:46

That’s more than an arm round the shoulder, it’s an olive branch

[euclid5] 10/7/2018 20:38

"“I would like to reassure investors that the state will continue to work with Petronas to ensure that their interests are protected,” he added.

[spangle93] 10/7/2018 18:39

Ref gravy train etc. Petronas is 100% Malaysian government owned. The malaysian government sanctioned the greater autonomy for Sarawak. So I'm not altogether sure on what leg Petronas is standing when they are bleating. Seems that it's primarily a distribution issue, with more money for the Sarawak purse, versus the remainder of the country.

I'm sure wee Eck and the unloveable dwarf are watching with envy

[jon1962] 10/7/2018 17:29

Some my buys at 3.095

[argyle underclap] 10/7/2018 17:28

Thanks guys was kinda my understanding, always good to run it past the board to confirm. Doughty, yes, olive branch is the tone of it

[thejaba] 10/7/2018 17:12

ClapYes it is. This was what was expected between 9-18 July. It paves the way to award licences to companies with sarawakian connections imho.Dr Staley was right....the don't mess about time wise in Sarawak.