Upland Resources Share Discussion Threads

[yogaboy] 23/8/2016 15:56

Rumble rumble...

[safman] 23/8/2016 12:44

250k available @ 1.499p..

So that overhang seems to be disappearing..

Thanks for that link sja..

saffy..

[sja123] 23/8/2016 12:29

A little from Proactive in July...

Upland Resources hopes local production will support international exploration effort
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11:36 28 Jul 2016
Upland Resources is beginning to position itself as London's most interesting up-and-coming oil and gas company
Upland Resources hopes local production will support international exploration effort
Upland has a license on Britain's oldest oilfield in Britain
Only a few weeks after listing on the main board of the London Stock Exchange Upland Resources Limited (LON:UPL) was awarded its first license.

This was the 14th UK Onshore Oil & Gas Licensing Round held at the back end of 2015, and Upland picked up a Petroleum Exploration and Development License in the East Midlands to be held in joint venture with three other parties. Formal award is expected very soon.

It was a good start, and established Upland as competent in navigating the by-ways of the UK oil and gas industry. Not that anyone was in much doubt about that anyway.

Chief executive and co-founder Steve Staley has an excellenttrack record, having been the founding chief executive of Fastnet, bringing it to AIM.

He also acted as a consultant and non-executive director of Cove Energy which grew from a market cap of less then £3 million to be sold for £1.2 billion in 2012 to a subsidiary of Thailand’s national oil company PTT Public Company Limited.

In addition to his role at Upland he also acts as a non-executive at the hugely followed 88 Energywhich holds a very promising new oil and gas play in North America. .

So this is a man who knows his way around, knows how to put a deal together, and knows, moreover, not to rush things.

“We’re just starting off,” he says. “We haven’t been listed long. We’ve got some money and we’re about to get our first asset. But our underlying ethos is that we do proper due diligence. I’ve spent the last 15 years at the smaller end of things and there’s a temptation to do deals for the sake of doing deals.”

Nevertheless, Staley does have some idea of the shape and form he’d like Upland to develop into, given time and the right opportunities.

An independent Competent Person’s Report puts the likelihood of getting production out of the historic Hardstoft structure near Mansfield as high as 80%.

“It’s the oldest oilfield in Britain,” he says. “We’re partnered with Ineos, but we’re not interested in the shale. We’re just going for the conventional and we think there’s close to seven mln barrels recoverable there at relatively shallow depths. It should be easy to do.”

So at at the core of what will eventually become a company with a broad reach of international exploration assets will be small-scale high quality production asset in the UK, assuming that the aspiration for production is met.

Either way, with Staley’s operational experience added to the mix, that’s a highly investable proposition.

But it is where he goes internationally that will be interesting.

“We’re looking for things that work at low oil prices,” he says. “We’re focussing on the UK, on parts of North Africa, in particular in Morocco, and in Malaysia.”

Why these particular jurisdictions? “Our cornerstone investors are Malaysian,” says Staley simply. “The UK we already know well. And Fastnet and 88 Energy (which used to be called Tangiers) were focussed on Morocco.”

In general, onshore assets will be favoured over offshore, but aside from that there’s likely to be a range of propositions under consideration by Upland at any one time.

“In Morocco,” says Staley, “we’re looking at low-risk but not very big assets right the way through to blue sky.” And in Morocco gas is very much on the horizon since the local selling price is around four times as high as it is in the USA.

Meanwhile in Malaysia, the company’s non-executive chairman Norza Zakaria is ex-Petronas, and Bolhassan Di, the new non-executive director, is ex-Shell and a member of the state legislative assembly.

Bboth, according to Staley, are “very well connected.”

That bodes well for a good pipeline of opportunities there, although Staley adds that there’s no particular pressure to put Malaysian deals ahead of any of the company’s other plans.

“We are actively doing things on a variety of other fronts,” says Staley. “But we can’t be specific.”

Not yet, anyway. But with £1mln in the bank he doesn’t need to rush.

“We’ve got enough to do at Hardstoft,” he says. Watch this space.

[sja123] 23/8/2016 12:04

Added here this morning....news soon I expect...

[someuwin] 23/8/2016 11:54

This keeps creeping up.

Sooner or later it will explode upwards on news out of the blue.

[safman] 23/8/2016 11:43

Some activity today..

With directors taking a large portion of shares in the company.. coming up to September.. once the holidays are out of the way.. we could potentially see some activity..

Well, that is the hope anyway..

saffy...

[yogaboy] 17/8/2016 15:01

...as does the trend over the last eight months.

[kemche] 17/8/2016 14:43

The nibbling continues......

[kemche] 11/8/2016 15:27

So far so good :)

[argyle underclap] 11/8/2016 13:39

Jabs - Higher lows on the chart too indicates pressure building

[thejaba] 11/8/2016 13:14

stock being nibbled away daily. looks to me like someone picking this up daily.

may see another RNS

[safman] 11/8/2016 08:51

Good Morning..

Always a good sign.. (Well certainly majority..).. when directors own a huge chunk of the company.. a blue start today....

saffy..

[thejaba] 03/8/2016 12:06

I think this is primed to go tbh. Expecting big things from this management.

When you look at other O&G companies which are at 3 or 4p but whose MC is around 60m it really tells you this could motor, in terms of a number of reasons:

1. Management have a track record of delivering value (Cove Energy £2.1m sold for £1.2 billion within three years)
2. CEO and whole management team have been acquiring stock
3. Chairman who was a big player in the O&G industry in South East Asian wants to expand in that market
4. Chairman has been acquiring stock and has 60m shares
5. New NED joins and within 2 weeks acquires 3m shares
6. The shares are getting tighter and any good news, and news is expected soon, could mean a shortage of supply
7. Low MC of the company
8. Full Market Listing
9. Cash Rich - of the 2.3m MC £1.3m is cash
10. The BOD remuneration per annum is £200k, the CEO is on £175k a year, compare this to others who bleed finances dry in other companies
11. The CEO has recently gifted 1m shares to a charity / organisation where he enjoyed his formative years - he is unlikely to give them a duffer.


Just as a comparator, if a MC was 30m (based on the current shares in issue) the share price would be around 13p

[argyle underclap] 21/7/2016 15:17

Jaba - ur another one who likes to dip in early.

Ur an 'early dipper'

[thejaba] 21/7/2016 14:50

I agree with Zengas in that the NED has only been around a couple of weeks, and has put in £45k plus to acquire stock.

Hes evidently seen enough for him to dip in very early.

[argyle underclap] 21/7/2016 13:29

I have been acquiring these the past few weeks.

Good to see another director taking a chunk.

[zengas] 20/7/2016 16:35

The company is still significantly cash rich relative to the low market cap of £3m at 1.425p.

Main point is regardless of cash the value on the asset for 2C at 80% COS and 64% on best estimate resource is 1.24p - 2.3p per share at $50-$70/b oil and based on just 0.8 mmbls success net to UPL.

The overall exploration potential in best estimate 3C net to UPL is 7.42 mmbls at Hardstoft versus 0.8 mmbls for the above price per share - so has over 9 times the upside potential for any future successful exploration in this one asset.

UPL had £1.3m cash ($1.75m). Corporate overheads estimated at £300,000 ($425k/year).

It's upcoming share of seismic and drilling costs on a net basis are
Seismic $83.35k, well preparations $16.67k, appraisal well on the existing discovery $500k and a development well $500k = total including overheads is $1.525m, so fully funded and the 2 wells are 12 months away at least so that frees cash for/towards another deal in the short term.

[safman] 20/7/2016 16:14

Although it is speculative.. the fact that directors are buying chunks of this company..consistently before any news.. to me seems like a very good sign of perhaps things to come..

Especially considering their backgrounds..

But.. dyor..

saffy..

[safman] 20/7/2016 16:00

Good Afternoon..

To see more directors loading up on shares and consistently as is the case here, is always a very positive sign.. hence weakness can present an opportunity..

saffy..

[someuwin] 20/7/2016 15:58

A very intriguing company!

[zengas] 20/7/2016 15:54

Another non exec director just announced as buying 3m shares (1.41%) at 1.3p

Directors and institutions now at circa 62% (7 holders).

[someuwin] 20/7/2016 15:53

RNS Number : 7801E

Upland Resources Limited

20 July 2016

20th July 2016

Upland Resources Limited

("Upland" or the "Company")

Director Purchase of Shares

Upland Resources Limited (LSE:UPL) is pleased to announce that on 19(th) July 2016, the Company was notified that Mr. Bolhassan Di (non-Executive Director) had bought 3,000,000 ordinary shares of no par value in the Company (the "Ordinary Shares") on 18(th) July at 1.3 pence per Ordinary Share.

Following this purchase, Mr. Di now holds 3,000,000 Ordinary Shares, representing approximately 1.41% of the issued Ordinary Share capital of the Company.

[thejaba] 16/7/2016 13:10

Just noticed on the admission document that the salaries and remuneration is very low. CEO, Chairman and a member of the Board only draw £175k pa between them.That's good news for holders imho.