Upland Resources Share Discussion Threads

[soulsauce] 22/1/2020 17:48

Some strange trades going through. Quadruple bottom.

[soulsauce] 21/1/2020 18:50

Flying blind, turns out that is probably what we were doing under the previous CEO. I think he was using rock, paper, scissors to decide the way forward or what news might come first, or not.

Hopefully this one does have a scooby doo.

[michaelwhight] 21/1/2020 18:38

I feel like we're flying blind at the moment but the price action did make me think that someone wanted in at a lower price today. I'll give the man a chance for now. It could be that news is just around the corner.

[soulsauce] 21/1/2020 12:47

Not too much worried about day to day ups and downs michaelwhight, although it is never nice to see it in the red. What bothers me more is in the short to medium term CP and crew manage to get this moving in the right direction.

[michaelwhight] 21/1/2020 11:58

I hope the bid price comes up a bit today!

[soulsauce] 21/1/2020 11:32

😆😆😆

[sull75] 21/1/2020 11:18

You mean the boiler room!!

[thejaba] 21/1/2020 10:50

The twitterati said there's been no selling ..... since 4p

[soulsauce] 21/1/2020 09:51

It is CP that is overseeing this - no?

[nlmbidc] 21/1/2020 09:33

Wrong hat.

[soulsauce] 21/1/2020 09:19

It's ok nlmbidc, I am aware of a few things and I dare say the twitterati are whipping things up in the background.

I look forward to being amazed and await to see the size of CP's hat that is going produce this huge magic rabbit.

[nlmbidc] 21/1/2020 09:08

I would explain but not on an open board.

[soulsauce] 20/1/2020 23:32

What licences? We haven't got any. Why wouldn't the established regional prospective partners just take the licences themselves?

As I have said what are we bringing to the party?

I am fascinated to see how this is going to play out as it seems to me CP is going to have to find a way to plait fog.

[nlmbidc] 20/1/2020 22:44

The licenses.

[nlmbidc] 20/1/2020 21:43

UPL are planning to partner with established regional players in the Asia Pacific prospects.

So the lions share of the work will be done by the partners.

[soulsauce] 20/1/2020 12:45

Well I hope you are right AimSurfer but I am not sure how that is possible.

[aimsurfer] 20/1/2020 12:31

Agree. Key here I feel is get reserves booked and then look for funds to develop/commersialise the assets. I don't feel we necessarily need millions to get hold of stranded discoveries.

[soulsauce] 20/1/2020 11:55

AimSurfer my point is they (RRE) had a nice cash pile to start with.

I think you are comparing oranges and apples.

[tyler90] 20/1/2020 11:50

I think we are rushing ahead of ourselves. How much cash does upl have?

[aimsurfer] 20/1/2020 11:39

Had 121m cash in Dec 2018. After acquisition in July 2019 had 370m of cash, increase in cash was due to the additional assets and liabilities they inherited as part of the deal.

[soulsauce] 20/1/2020 11:15

As I understand it RRE paid $95m for their last acquisition and were still left with $370m in the bank.

They always seem to have put in a large amount of cash for acquisitions.

[aimsurfer] 20/1/2020 11:09

You say that but look at the organic growth and acquisitions Rockrose made in recent years. Small marginal fields and their management time might not be of interest to Petronas who are producing billions barrels of oil. Small caps can have it, enter production sharing agreement and everyone is happy. Not saying this will happen but one off the potential opportunities I see.

[soulsauce] 20/1/2020 10:40

You are not going to get 'a whole lot of reserves on the balance sheet' without paying for it.

So again it is intriguing how it is all going to come together, balancing the fact we haven't got a pot to p*ss in with wanting to take on assets and further what we already have.

[nlmbidc] 20/1/2020 09:30

The background to a lot of Asian fields becoming available is that a lot of the big companies are backing out of Asia. What is marginal for a big company can be a nice little earner for a company our size. Added to that you get a whole lot of reserves on the balance sheet.

Repeated 2-3 times and we could be a mid-size company by the end of the year.

Then there is Saouaf that should also be unlocked soon.

And the long awaited Sarawak stuff that got Tune and other Malaysians invested in the first place.

[soulsauce] 19/1/2020 22:27

Well that very much depends Sull.

What is making them marginal?

I guess we will find out eventually.