Upland Resources Share Discussion Threads

[soulsauce] 02/6/2018 15:45

Lol calm down mi old mucker 😁

[doughty] 02/6/2018 14:26

UPL in Sarawak = a kid locked on his own in a sweetshop with no cash register !

[cashandcard] 02/6/2018 14:08

Euclid,I would imagine they'll be screening for the most economic & best potential assets. That may well be a 5-10mln field in need of simple rehab/workovers as opposed to a 30-40mln field that requires substantial upfront drill capex and infrastructure before it can produce.Cash

[euclid5] 02/6/2018 14:01

Yes I recall, am ceratin they will a few of these marginal fields, huge potential when you think they just need appraising & there is about 600mmbls rec oil on fields of 30mmbls OIP recall x 30% RF - 10mmbls each field

Just hope the capes is not high to develop / appraise each field

[argyle underclap] 02/6/2018 13:57

Euclid - hi, yes, re 200+ I was referencing that, cheers

[euclid5] 02/6/2018 13:47

Hi Argyle,

Was the 200 plus wells in Sarawak, from the link I posted a few weeks ago?

Think the figs were 600mmbls rec oil in onshore wells with marginal fields

Thanks

[argyle underclap] 02/6/2018 13:25

Doughty - good posts, obviously CEO deemed the tweet relevant enough to post

Three things come to mind. 1) Tweet gives back story and reasoning to the increase in outlay at Wick, albeit with flip side potential increase in asset value.

2) re-evaluation of previously non commercial opportunities, now a viable option, with Sarawak obviously springing to mind with 200plus Wells not yet monetised.

3) producing or near term producing asset(s) now more attractive acquisition for Upl and or Upl/Brooke.

Edit - also, an additional quality of Upl, inherent because of its small size and great detailed foresight of its management is its ability to react quickly to the ever changing landscape, this time the increase in oil price. I get the feeling UPL/Brooke might now move to initially exploit existing opportunities in Sarawak before looking for new prospects. Just thinking aloud!

[doughty] 02/6/2018 12:54

...people WILL wake up to the UPL back story soon !

[doughty] 02/6/2018 12:52

...and I listen to the podcast over and over again and re Sarawak I don't think peeps quite get...

A)
Just what a very unique and enviable position UPL are in to be partnered with a Sarawakian enterprise just at the right time...when the political masters are favouring Sarawakian companies and those partnered with Sarawakian companies. We are the only upstream O&G company in that position. This could be down to good management but also a big slice of luck...which you need.

B)
That we have already been working in Sarawak for the long time...and the CEO appreciates our patience. I think the longer it takes the better the deal will be...they are working very hard for them and for us in the background.

C)
I feel that the Sarawakian deal will be structured over a long period of time ( not just one hit ) and our first mover advantage to align ourselves with Brooke will pay dividends over a long period

D)
It could be massive over a long period of time...a real cash cow and something that could drive the share price to a life changing place...if you can hang on long enough


:-)

[doughty] 02/6/2018 12:42

Of course Argyle...if one looks at the Wick cost overrun compared to the potential gains
due to the higher oil price now compared to when the slide rule was run over the prospect then it is peanuts.

Look at the header above...

"Established with the aim of taking advantage of the team's knowledge and experience, the current low oil price and stressed nature of some incumbents, the Company aims to assemble a portfolio of assets with:

· Attractive risk : reward balance
· Low-cost entry and cheap work programme costs
· Robust economics

In particular, the Directors of the Company strongly believe that the recent climate of lower oil prices has created particularly advantageous conditions for companies such as Upland, with access to capital and knowledge."

Today's tweet is telling us that they are VERY oil price aware...IMHO

Am sure that the rise in the price of oil is pinging up otherwise dormant blips on UPL's radar

[argyle underclap] 02/6/2018 12:23

A sustained higher oil price might now prompt the re-evaluations of previously non commercially viable prospects.

It could make a producing (or near term producing asset) potentially more attractive to UPL

Thoughts?

Lots of opportunities not yet monetised in Sarawak. Was it 200+?

[argyle underclap] 02/6/2018 12:00

Doughty -very much a case of swings and roundabouts, we recently witnessed the cost of the wick drill rise, in part because of the increase in the price of fuel/oil, the flip being whatever is found also has a higher value. So happy days. Or is that too simplistic a view guys?

[doughty] 02/6/2018 09:54

...not too exciting a tweet from UPL but a lesson to us all...the price of oil DOES matter !....its a signal from them !

[thejaba] 02/6/2018 00:43

Indeed I did hoover up a tad Mr Clap

[thejaba] 02/6/2018 00:42

Absolutely crazy!!!

[argyle underclap] 01/6/2018 17:20

Brontosaurus wow, lol, the giant vegie Dino of impossibly long neck and tail,that picks and feeds on the high green leaves of tall trees. I usuallly recomend pack hunting a beast like that down with the help of others. Well done if you’ve bagged it yourself! Lol.

Good weekend all,

[argyle underclap] 01/6/2018 16:41

Doughty - Yea, I hear ya, I’m ruddy well swimming in these. Right now they’re hanging out my ears.

Jaba says he had his hoover on the go again this week, and again it’s having to go back in for repairs jam packed blocked up solid as the bag looks like a small snake that’s swollowed a herd of elephants. He’s considering some more rigorous hoovering next week

[doughty] 01/6/2018 16:26

....and I was just offered 3.26p to sell 75k....that makes no sense !

[doughty] 01/6/2018 16:20

OK...well I really am up to the gills...but a little baffled....just bought 85,273 shares at 3.25p which is below the mid price !!!!

[argyle underclap] 01/6/2018 15:49

doughty - here here, also Ramadan ending mid June. Cud be a very significant moment as lots of business in North Africa and Malaysia is placed on the back burner during the Holy Month.

news storm likely, hope you’re all ready

[doughty] 01/6/2018 15:42

Everything going to plan in north africa ?

CEO: "very much so"....hopes to say more "in the near future"

"NEAR FUTURE"

...that was said seven weeks ago