Upland Resources Share Discussion Threads

[tyler90] 05/10/2020 15:11

If it is suspended then the share price cannot go down any more I suppose lol!

[soulsauce] 05/10/2020 15:04

nlmbidc obviously you know more than you are letting on. Why is it not helpful to put what on this board?

If there is nothing to hide why are you concerned about suspension?

[richsif] 05/10/2020 14:53

What regulation dictates the timeframe when a recording must be released? Personally I think a week+ is overdue, but I don't recall seeing anything which says a recording has to be released by X time.

[yogaboy] 05/10/2020 14:20

nlmbidc unfortunately you have no idea what has been going on, otherwise I am sure you would not have made that remark.

[nlmbidc] 05/10/2020 14:08

Yogaboy,
If you have concerns deal with the board. It's not helpful putting it on this board.

[tyler90] 05/10/2020 14:03

2 of the directors were in that conference and they pay the comms & PR wages so how can they withhold something from their client?

[yogaboy] 05/10/2020 13:48

tyler90, I think the expression used was "funded to the end of the year" or some such.

[yogaboy] 05/10/2020 13:41

Happy to engage with you on this matter nlmbidc, but please let us try not to blame the messenger, not to make assumptions about motives, and not to resort to name calling.The second Zoom call was announced by RNS, was open invitation, and should have been made public immediately afterwards.Failure to do so is a breach of regulation.Please enlighten us if you know why it has not been published.Please enlighten us if you know whether the person who made the recording is withholding it from the directors, and if so, why.RegardsSimon

[soulsauce] 05/10/2020 13:15

Who is simple Simon? If you are referring to yogaboy and the company has something to answer then it is the company's responsibility to ensure it fulfills its obligations and doesn't get suspended. It is quite obvious yogaboy is giving them plenty of chance to make amends.

[nlmbidc] 05/10/2020 13:13

Soulsauce, I'm not telling you to stop.i referring to simple Simon who seems to want to get the share suspended from trading.

[soulsauce] 05/10/2020 13:12

Thanks Tyler. I think may be nlmbidc might have been on the secret zoom call.

[tyler90] 05/10/2020 13:01

What you trying to 'stop'?Can't stop him from expressing his opinion as long as he does not use offensive or discriminatory language which he is not

[tyler90] 05/10/2020 12:48

I recall them talking about a large player 'breathing down our necks" but not "that UPL would not need to raise more funds before the end of the year."If the play is as significant as they think then why would large players not be interested? and if it is an asset enhancing find then further funds to explore/develop would be required and would not spook investors IMO

[soulsauce] 05/10/2020 12:47

nlmbidc why you having a go at me replying to the excellent work yogaboy is doing? Stop it, I won't so save you breath.

[nlmbidc] 05/10/2020 12:27

Stop it S.

[soulsauce] 05/10/2020 12:23

Well done yogaboy.

As I watched the 2nd zoom call I am not too concerned about that one but you are certainly right about the comment of a company breathing down their necks, but can't confirm the raising issue.

I must say I wonder what they have to hide in the first zoom call and it is rather concerning. I can only assume that things were mentioned by the company or certain members of the Twitter group they would be embarrassed by.

[yogaboy] 05/10/2020 11:36

Time for me to put all my cards face up on the table. This issue concerns two Zoom conferences and what I now believe to be several potential regulatory breaches.

First conference 14 September:

The first conference took place on or before 14 September. It was organised and hosted by Sasha Sethi of Flowcomms, who appears to have invited only a select few (at a guess, members of the UPL Twitter Group) to attend. The conference featured Bolhassan Di (Non-Exec Chairman and Interim CEO), Aimi Nasharrudin (Non-Exec Director, Brunei) and Roberto Bencini (Geologist).

RB presented a summary of UPL’s position in Tunisia and narrated the slides that were released by RNS a week later on 21 September.

AN presented a summary of UPL’s position in Brunei.

Q&A followed the presentations.

The conference was recorded, and the recording was uploaded to YouTube on 14 September by Flowcomms, but its URL was only made available to those who had attended. I believe this is a regulatory breach, which may have to be reported to the FCA.

A note of the URL was forwarded to me on the understanding that I would neither share it nor disclose who sent it, so please do not ask me to do so.

Second conference 25 September:

The second conference took place on 25 September, following the publication of the Tunisia update on 21 September. It was again organised and hosted by Flowcomms, and was by open invitation issued by RNS on 23 September. The conference featured Bolhassan Di and Roberto Bencini.

RB presented a summary of UPL’s position in Tunisia, and narrated the slides that had been released on 21 September.

Q&A followed the presentation.

So far (5 October), no recording of the conference has been made available to attendees or to the wider public or shareholders who could not or did not attend. This is a regulatory breach, which may have to be reported to the FCA.


My communication with the Board:

I raised the issue of the first conference with Non-Exec Director Chris Pitman on 16 September. At that time, CP was not aware that the call had taken place, and had not seen the recording. Since then, we have maintained regular communication by email and by telephone, and our discussions have broadened to include the failure to publish the recording of the second conference. I have copied the entire Board with my concerns but my ongoing conversation is with CP alone, who is working closely with Jeremy King to resolve this matter.

CP has confirmed that the company’s failure to publish the recording of the second conference (which as at mid-afternoon on 4 October he had still not seen), is a breach of regulations and will have to be reported to the FCA if it is not corrected. It is arguable that it should be reported anyway and I get the impression that CP, as a UK resident director of a main market listed PLC, is even more concerned about this matter than I am. He is taking it very seriously.

I now understand that the problem with the second conference is that statements might have been made which are not true. Statements were made, if I recall correctly, about a major E&P company breathing down our necks in Tunisia. Statements were made, if I recall correctly, that UPL would not need to raise more funds before the end of the year. If these statements turn out not to be true, then there have been further regulatory breaches. All this has to be based on my recollection because the recording has not been published. If my recollection is wrong, then of course I withdraw those comments.

We need to know the facts. Both recordings must be published, with official company statements unequivocally confirming or correcting whatever assertions were made. Please join me in writing, emailing or telephoning the Board to apply pressure to resolve this matter to the benefit of all concerned.

[soulsauce] 05/10/2020 09:41

Really why not?

[tomboyb] 05/10/2020 09:22

All time lows -

Cannot believe selling at these levels -

[nlmbidc] 03/10/2020 08:52

Coming soon for a new CEO.

[spangle93] 03/10/2020 07:51

.... til the next management

[tyler90] 02/10/2020 20:05

Yes, not pleasant to see your portfolio keep falling into the red but keep the faith. Not worth throwing in the towel now when we have so much to look forward to. Any hint of the new play in Tunisia being anywhere near what Roberto thinks and this could easily multibag in days. Sarawak/Brunei and a possible farm-out with IMF and tif next 3-4 months could be what we have all been waiting for. If it is still this price in January 2021 then I may change my mind.Agree PR and management could have done better but this is their 'last chance saloon'!!

[thejaba] 02/10/2020 19:22

Everyone to blame but the mgmt and the PR

[soulsauce] 02/10/2020 17:14

Ahh I see, Trump to blame lol.