Upland Resources Share Discussion Threads

[tyler90] 03/1/2019 14:54

Yes, or pay more if Wick is a goer!

[tialouise] 03/1/2019 14:48

The company's involved will be the first to know any news, not some random fishermen x

[divmad] 03/1/2019 14:45

There's a school of thought that it might pay to sit out Wick in the expectation that it won't commercial, and then ounce on the shares in the subsequent dump for the main course, Tunisia

[michaelwhight] 03/1/2019 14:36

Actually no idea. I was hoping someone could enlighten. I was hoping also that it meant that as none have been observed they may contain hydrocarbons?

[thatsmart1] 03/1/2019 14:28

What does it mean, 'cuttings all discharged', thrown to the fishes? But if they contain hydrocarbons they are not - how do we know if they keep them or dump them, is someone watching from the shore with a powerful pair of binocs?

[michaelwhight] 03/1/2019 14:14

Some clues here maybe? Thanks to the guys on Twitter. ScottyAlx@scottypong·1hLogistically it's a simple well. Cuttings all discharged. Same mud system 17.5"&12.25" Same cement class throughout. Minimal casing strings.1AmnesicAmnesic@_amnesicReplying to @scottypongCuttings from target zones are not discharged if bearing hydrocarbons.Discharges below water level (cannot be observed)12:54 pm · 3 Jan 2019 · Twitter Web ClientScottyAlxScottyAlx@scottypong·1hReplying to @_amnesicHeres hoping they don't discharge from and beyond reservoir depths. Normal offshore ops u can permit WBM discharges from payzone. I see the first application assumed OPPC style requirements then they changed it.

[78steve] 03/1/2019 14:12

looking at the chart no oil hit yet but still time left

[trulyscrumptious] 03/1/2019 14:07

One secondary gone! Should be through the primary target over the weekend if not before.

PS They could be at TD very early next week!

[michaelwhight] 03/1/2019 14:03

Updated chart from amnesiac on Twitter https://mobile.twitter.com/_amnesic/status/1080796322519830528

[michaelwhight] 03/1/2019 13:14

Holding up better than BOIL at least.

[tyler90] 03/1/2019 12:46

Yeah! and that was targeting 480 mbo!However, SS has a history of under promising and over achieving so let us hope he continues along those lines with this drill too :-)

[78steve] 03/1/2019 12:40

The markets got used to dusters all around look at MATD for example back to back dusters there. Lets hope this one pays off

[tyler90] 03/1/2019 12:26

The market is behaving as if Wick is a failure and looking to hammer the price to flush out the weak holders on confirmation. At 36-40% COS the assumption is that there is a 60-64% chance of failure which is fair enough.The Tunisia asset is being ignored for the present time but those in the know are aware that with the recent CPR, the price should be a lot higher even if Wick turns out to be a duster.The lapsed CLN could be negatively perceived as not needing the funds to explore Wick any further since it will be a duster.Just giving my reasons for the behaviour of the share price in a nervous market at the moment.All IMHO and DYOR

[spook74] 03/1/2019 11:32

Shame the share price hasn't moved up further on recent news. If no success at Wick we might be able to get in again at under 3p. Then we will have to wait again for significant news to make this move above 4p. Slightly annoying but here for the long game.

[tburns] 03/1/2019 08:45

Nice start today GLA

[nlmbidc] 03/1/2019 07:38

When some of Saouaf gets farmed out it will be for more than 1 cent a barrel.

[soulsauce] 02/1/2019 22:36

I believe the asset in Tunisia ought to carry at the very least a highly risked 10c per boe. Let's not forget there has been derisking with previous drilling.

That would give $38m or roughly £27m value for Saouaf.
Yet we have barely seen a rise that would account for 1c per boe. Crazy.

As others have said SS has had his eye on this asset for a while and his experience tells him there is a lot of gas therein.

Hopefully we can get a broker note, as Spangle suggests, to put a convincing figure on the asset and I am certain it will be way north of the paltry increase in mcap thus far.

[throwingmuses] 02/1/2019 22:30

Good post. Yeah the only thing determining the price are the actions of investors, what we think is fair value doesn't come into it. Investors generally seem a bit scatty right now with the wider environment, but for me that's why I've got a large proportion here, you really need an investment with a strong story, good management, and the potential to do exceptionally well in any circumstance, for me this is the pick of the market. Fair value will win out in the end, even if it takes more institutional investors moving in to take up the slack, longer term.

[shares188] 02/1/2019 22:26

Well now UPL are delivering you cannot
ask them to do anymore than they have.
This is obviously just going to rerate
very quickly and I hope any non holders
who are secretly wanting this to fail!!
Will be sick to the stomach and have to
eat humble pie for many months!!

[tyler90] 02/1/2019 22:11

Where is Zengas when you need him?

[henrymcivor1] 02/1/2019 21:21

My thoughts, for what they are worth.

Most investors won't look at NAv, Capex, resource estimates. Some couldn't even tell you what exchange we're listed on. They see three letters and a share price most of the time.

I believe we need larger investors in that won't freak out at a 10% rise and decide to sell. Reduce the free float and hold for medium to long term.

Seen it so many times when a share becomes over-traded.

There are a lot jumping in and out and even selling at a loss.

Saouaf? SS has had his eye on this for years, I'm confident it will be big. UPL is his baby, he's one of the best in the business and has put hard cash on the line.

[shares188] 02/1/2019 19:31

I understand what Spangle is saying , the last 3 RNS
Must count for something,otherwise what do we do
wait for each and every drill to have reached TD
Before any value is given...
I'm sorry I just feel UPL has been given
the blind eye ..
This will go up, it's just taking some old folk
a bit of time to keep up!! 😂
At this rate a successful drill at wick won't
push this past 4p!!!!

[michaelwhight] 02/1/2019 19:28

I understand but I agree with shares in that the already proven structures and potential for the others has to be worth something. I don't think there is a conspiracy but I do think we have enough information now to take the price on a bit.

[spangle93] 02/1/2019 19:27

Michaelwhight - exactly the point...such positives haven't been translated into potential value (although just cos gas has come out of the ground does not mean it's commercial: it just removes some of the downside risk)

Shares - An EMV is a means of expressing risked value pre-drill, so no, I wasn't saying the price would stay below 4p until they are all drilled, I was throwing figures out that suggested if brokers used information to put a value on the licence, the potential NOW is signficantly higher than 4p