Upland Resources Share Discussion Threads

[soulsauce] 04/9/2020 10:17

Old news but an update added to the Corallian licence news yesterday:-

Corallian and JV partners sign a work sharing agreement for licence P2478, Inner Moray Firth
Corallian is pleased to announce that, together with Joint Venture partners, Upland Resources and Baron Oil, it has signed a Work Sharing and Confidentiality Agreement with a large European E&P Company (“Interested Party”) for licence P2478 in the Inner Moray Firth. Under the terms of the agreement Corallian and JV partners have agreed to cease marketing a joint farmout to industry until 30th September 2020, during which period the Interested Party will complete its own regional technical work and share its data and interpretations over the area with the P2478 Joint Venture Partners (“Exclusivity Period”). Corallian will continue to provide data to the Interested Party under the confidentiality arrangements. By mutual agreement Corallian and Joint Venture partners may extend the Exclusivity Period with the Interested Party until the 31st December 2020 should such Party wish to negotiate farmin terms to earn an interest in the licence.

The P2478 licence (Corallian 45% interest and licence administrator) contains the Dunrobin prospect. The prospect consists of three large shallow Jurassic rotated fault blocks that are mapped mostly on 3D seismic data within a single culmination with Direct Hydrocarbon Indicators. Reservoir targets are the Jurassic Beatrice and Dunrobin sandstones, overlain by a thick Kimmeridge Clay to seabed. The prospect is approximately 30km offshore with a water depth of approximately 75m.

The Dunrobin structure covers an area of approximately 40km2 and the prospect Pmean prospective resources of 174 mmboe, with potential for 396 mmboe (P10) as assessed by Corallian.

Corallian is pleased to be able to continue to work positively with the Interested Party to progress the project during these capex constrained times, and hopes it will lead to agreeing a farmout by year end.

[soulsauce] 04/9/2020 09:21

I am glad I said 'tentatively'. I hope we can expect more soon other than the MOU which did nothing for sentiment.

[soulsauce] 28/8/2020 21:24

Tentatively so am I TheJaba. Let's hope this time we get some delivery instead of more jam someday.

[thejaba] 28/8/2020 19:36

I'm more positive about UPL than previously

[soulsauce] 28/8/2020 17:13

So it it wasn't perfect then was it.

You should reread the April 2018 Mou Rns.

[nlmbidc] 28/8/2020 17:05

You should know full well that the political situation in Sarawak has only recently allowed UPL to apply for a license (of scale) in Sarawak. This was first announced by RNS in May this year.

The Brunei MOU does not have such restriction.

[soulsauce] 28/8/2020 07:44

How can you say worked perfectly when nothing has come from it yet after over 2yrs?
At best it has worked in that it is still in progress but far from perfect.

[nlmbidc] 28/8/2020 07:34

The last MOU worked perfectly and supports our application for the target of scale in Sarawak.

The Sarawakian oil company Petros will favour Sarawakian companies when awarding licenses.

[soulsauce] 27/8/2020 23:18

😄😄😄

[yogaboy] 27/8/2020 23:14

Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of Memoranda of Understanding...

[soulsauce] 27/8/2020 15:30

Nah market shrugged it's shoulders, may be because the last Mou worked out so well for us lol.

[bumpa33] 27/8/2020 13:53

But clearly not enough for the mkt :)

[bumpa33] 27/8/2020 07:48

Some progress. Good to see...

[yogaboy] 27/8/2020 07:48

This is the first new activity since Dr S resigned. Interesting to see how quickly it bears fruit.

[soulsauce] 27/8/2020 07:45

Well we have another MOU. It's a start but I hope things move quicker than in Sarawak. And talking about Sarawak things still very slowly falling in to place.

[yogaboy] 27/8/2020 07:41

Well they fixed the website. Sarawak banner corrected, Hardstoft page now (almost) correct. Fair play, but I hoped they would proofread it again themselves.

[soulsauce] 21/8/2020 13:48

Unfortunately the spread is not helping.

[bumpa33] 21/8/2020 13:42

Ha, they’re the kinda coincidences I just don’t believe in :)

[yogaboy] 21/8/2020 13:10

LOL "No, your honour, it is a complete coincidence that I dropped £45k into a practically dormant share the week before it multi-bagged.";-)

[bumpa33] 21/8/2020 12:53

yep, it’s taken a long time for sure. I’ve kept an eye on it wondering whether it would ever happen. Let’s see if that 5.7m out of the blue buy was remarkably well timed...

[soulsauce] 21/8/2020 12:50

Fingers crossed Bumpa, shareholders have had a pretty rough ride here so it would be nice to get some decent news to set it alight again.

[bumpa33] 21/8/2020 12:41

If it’s Sarawak yes, and then some. IF...!

[soulsauce] 21/8/2020 12:24

Don't think there is much to stop this retesting 2p with the right news.

[bumpa33] 21/8/2020 11:46

Something happening?

Edit; early trades cleared out 0.8

[snickerdog] 21/8/2020 11:43

They are not too bad sometimes as if exercised keep cash coming in