Upland Resources Share Discussion Threads

[costax1654x] 14/1/2020 09:48

? #orm hmm!5-6 mil cash + gold assets ,no Debts all for 3 mil mcap!!!?

[tyler90] 13/1/2020 08:57

Some positive movement in Sarwak:hTTps://www.malaymail.com/news/malaysia/2020/01/13/sarawak-green-lights-oil-exploration-by-state-owned-petros/1827485

[tyler90] 10/1/2020 17:55

No big sells today, I wonder if the seller has finished?

[nlmbidc] 08/1/2020 12:20

No. They have 1 million dollars in escrow which they can draw down.

[divmad] 08/1/2020 11:49

Will even the acquisition of new 2D seismic require another equity placing?

[nlmbidc] 08/1/2020 10:13

The new 2d on saouaf as i understand it is to determine new targets so that the 2tcf of gas can become 2tcf plus whatever new prospects are identified. CP wants a farmin partner to fund/do the detailed analysis on what to drill first etc.

[soulsauce] 08/1/2020 09:39

yogaboy I think most of us need to vent here, not least because of the merry dance Staley seemed to be leading us.

[yogaboy] 08/1/2020 09:12

I guess you're right Sull75. Just needed to vent ;)

[tyler90] 07/1/2020 22:45

Agree, I think the new CEO has the ability to get the finance for the initial work which will target the most promising leads. This gives them a much higher chance of success and once that happens they can demand a premium for a farm-in. If this is the case, then I would expect the share price to start the move upwards in anticipation over the coming days/weeks.

[spangle93] 07/1/2020 20:22

Well, probably, now that such a period has passed since "unsolicited enquiries" were being received, but since they are only committed to acquiring 2D seismic, and as was discussed above, money isn't flowing into buckets, the work program won't de-risk the prospects substantially.

My guess is that it will be targeted on the most mature of the leads, in the hope of turning into a prospect, which could then be a focus for the farm out

[tyler90] 07/1/2020 19:30

I assume any farm-in/farm-out will follow this work?

[nlmbidc] 07/1/2020 19:28

The two back-to-back posts I made last week were the two funding mechanisms discussed informally after the AGM business back in December.

A major European Bank was mentioned.

I suspect the new director appointed today will also have similar funding capabilities from Malaysian banks/financing sources. On this aspect today's NED appointment is very good news.

[soulsauce] 07/1/2020 18:59

Well that's a conundrum and I think one question we are all waiting to see answered.
Like nlmbidc says there are other ways to get funds but what will it or they be?

[tyler90] 07/1/2020 18:55

How are they going to fund the 2020 work programme?

[soulsauce] 07/1/2020 18:48

Yes indeed. Seems Staley was spinning us a great line - in my opinion of course.
No wonder he could never tell us in what order news would come lol.
Think he was wee weeing up our backs and tried to tell us it was raining.

[sull75] 07/1/2020 17:39

I'm having a guess that's exactly what the major shareholders said as well!

[sull75] 07/1/2020 17:35

Hence the new CEO, yogaboy.

[yogaboy] 07/1/2020 16:37

2TCF, unsolicited approaches, WTF have UPL been doing for the last year?

[tyler90] 07/1/2020 15:31

Tunisian National Oil Company (ETAP), the national oil company, created in March 1972 in order to increase control and actively and directly participate in all hydrocarbons related operations. Also responsible for the management of oil and gas exploration and production activities on behalf of the State.

[sull75] 07/1/2020 15:28

Mr Nasharuddin is interested in 14,730,770 ordinary shares of no par value in the Company held via his company, Premier Assets Pte Ltd., a company incorporated in the British Virgin Islands.

[sull75] 07/1/2020 15:26

Good to see that another major shareholder since the early days has also joined the board, obviously wants to see his investment grow like the rest of us and needed to get involved. Good news all round long may it continue.

[soulsauce] 07/1/2020 15:21

Corporate update. CP now fully fledged.

[sull75] 06/1/2020 21:30

Aye! It certainly is, home advantage to us, good luck!

[soulsauce] 06/1/2020 20:41

Well that's an FA Cup draw to conjure with Sull 😉