Upland Resources Share Discussion Threads

[soulsauce] 20/7/2020 13:37

I think this mgt and the previous mgt have not known they can't take shareholders for granted unfortunately tyler but hopefully that may change.

With the Twitter group, Sasha and certain posters on advfn and lse, any decenting voices have been stymied even though the progress here has been akin to movement of molasses in winter while the share price has cratered.

[tyler90] 20/7/2020 13:36

All analysis suggests further funding will be required, which is fine, but the share price needs to be a lot higher than it is now to avoid disappointing and upsetting LTH's by continually diluting at a lower price. I would say nothing before the 8-10p range

[tyler90] 16/7/2020 11:55

"The proceeds of this fund raise will be deployed on value adding activities such as the work programme for the Saouaf Permit in Tunisia and to close new identified and screened opportunities in both South East Asia and North Africa."'To close new...' means to me that what was holding things up was the funds. Now the funds have been raised, I would expect and hope the opportunities are to be sealed and delivered within weeks not months.

[soulsauce] 16/7/2020 10:28

Such terms have always been used here, Staley was a master at it but he would even go as far as to say there is something coming but I don't know when and I don't know which will be first.

I can understand why they do it as it gives them open ended breathing space. Let's just hope it is nearer this time than it has been before.

It is good to know others patience is wearing gossamer thin.

[tyler90] 16/7/2020 09:58

Somebody needs to ask the company what they mean by 'near term' in the latest RNS. 11 months since Aug.19 is not near term in my dictionary even allowing for the coronavirus crisis

[soulsauce] 16/7/2020 08:03

Now you are getting it nlmbidc.

[nlmbidc] 16/7/2020 07:59

There were near term share price catalyst news items mentioned on 16th August 2019 that included farm-in and farm-out opportunities in Tunisia and also new interest in Sarawak. I think the CEO at the time was juggling so many plates at the time but none of them landed.

Now we seem to have even more plates being juggled.

Time to stop juggling and start stacking them up.

[yogaboy] 16/7/2020 07:25

The Company presently hasseveral near term highly attractive transformational licence opportunities under reviewWell I should hope so. Otherwise what have they been doing?

[nlmbidc] 15/7/2020 14:47

At least the CEO now has skin in the game.

[seroxat] 15/7/2020 12:07

Feels more like I'm being held down by cable ties rather than a seatbelt!Is it fair to say the raise was done at 0.9p (2 x 0.7 + 1.3) / 3 = 0.9 Might explain why the share price hasn't plummeted to or below 0.7p or is that just wishful thinking

[soulsauce] 14/7/2020 18:27

Of course there was tyler, that's why the offer weakened as the day went on and we ended up down 27%.
I would not set too much reliance on what was a buy or sell on a day like this.

Nice post Spangle. I am still waiting to see what rabbit he pulls out of his magic hat.

[tyler90] 14/7/2020 17:55

More buys than sells today!

[spangle93] 14/7/2020 16:46

Given the cash situation, they need to find some way of monetising any assets they have or they will acquire.

It's pretty clear that Hardstoft is going nowhere, which I'm sure is pleasing for the residents of the small Derbyshire village.

Money could come in if there's a successful farm out of P2478 to the partner in the exclusivity period, but they have until the end of September to decide. Likewise they could farm out Tunisia, which apparently Staley was doing last year so it was a shock to read on 29 June that they were just starting work that might lead to a farm out. Don't think that is going anywhere soon.

Or farm into some Far East producing or late life asset, again ideally front funding it through future sales like SQZ and RRE to reduce the capex demand.

But I totally agree - exploration opportunities would be great but not until the future of UPL is secured with limited further dilution

[soulsauce] 14/7/2020 16:40

Minus 27% you're doing a great job Pitman. Two dilutions without adding any tangible news, bravo.
And to think it was going to be a seat belts on ride lol.

[euclid5] 14/7/2020 15:40

Good points Spangle, glad I am not too top heavy in this - thought they were going to buy into an appraisal oil asset in Sarawak - be dissapointed if they got an exploration asset - far too risky imo

[spangle93] 14/7/2020 10:10

Euclid - you make a very patient post. I guess it would have been easier to stomach another discounted raising if he'd said that it is to actually reach a tangible milestone like completion of the licence requirements in Tunisia by acquiring 2D seismic, or buy into an asset, rather than "to progress opportunities and work".

For all the words, it's to hard not read it other than as a "keep the lights on and my salary coming in" fund raise.

[michaelwhight] 14/7/2020 10:07

Not the announcement we were hoping for but good to see some buying from the new guy at what will be the bottom.

[nlmbidc] 14/7/2020 09:33

Ffs sell soulsauce you're doing my head in.

[soulsauce] 14/7/2020 08:37

You could have said that after the last placing, the answer was nothing.

[euclid5] 14/7/2020 08:36

These co's always need funding soulsauce, you know that. Lets see what they manage to buy now they have more funding

[soulsauce] 14/7/2020 07:10

0.7p fund raise, oh joy.

Not doing bad for a bloke that wasn't going to dilute at low levels. Now done it twice, each time lower. Good work 🙄👎

[tyler90] 08/7/2020 14:17

Or even buy or accumulate!

[nlmbidc] 08/7/2020 14:06

With good news from 3 locations in Q3 this could easily muti-bag. The Malaysian prospect is of scale according to the RNS at the end of May.

With the potential of 2TCF of Gas in Tunisia from the the saouaf block and potentially more to come its a good time to hold.