Upland Resources Share Discussion Threads

[spangle93] 16/11/2022 08:43

Still heading north - who's buying??

[daar] 15/11/2022 12:31

Mos gang pushing upl now... Be careful

[soulsauce] 15/11/2022 10:09

From Baron Oil RNS this morning ... Dunrobin update

UK P2478 licence

Baron has a 32% interest in United Kingdom Offshore Licence P2478, in the Inner Moray Firth. Baron has the role of technical overseer of the remaining Phase A work commitments for this licence. The preliminary interpretation of the reprocessed 3D and 2D seismic data is largely complete with an increased confidence in the imaging of the reservoir targets within the previously recognised prospects on the licence. In addition, geochemical studies conclude that there is potential for developable oil quality within the licence area.

Baron previously announced that its internal estimates for the Dunrobin prospective complex contained approximately 100 MMbbl of gross Mean Prospective Resources*. The preliminary interpretation indicates that the western part of the complex (the "Dunrobin West" prospect) at the primary Jurassic target alone could contain 100 MMbbl of gross Mean Prospective Resources*. The Board believes that Dunrobin West is maturing to the stage where it is potentially a drillable prospect and so a potential target for an initial exploration well on the P2478 licence.

The Directors believe that success on an exploration well on Dunrobin West would de-risk follow up prospects Dunrobin Central, East and Golspie with the possibility of establishing the upside potential of a single Dunrobin accumulation. A secondary Triassic target is also being matured, involving an unproven (and therefore likely riskier) deeper reservoir, which the Directors consider provides significant additional resource potential and which may demonstrate higher oil quality preservation.

A joint farmout campaign is underway and has been announced to the industry. The Directors consider that there is currently an improving UK farmout market, with increased industry interest, the potential availability of windfall tax breaks, the need to address energy security issues, and an improved macro-economic environment.

It is proposed that approximately 5% of the net proceeds of the Placing and Subscription will be applied towards the P2478 licence and will include:

-- Finalising the interpretation of reprocessed 3D & 2D seismic data;
-- Modelling the outcomes of geochemical studies;
-- Evaluating a secondary deeper Triassic reservoir additional target for exploration drilling; and

-- Participating in a joint venture farmout.

[soulsauce] 04/11/2022 13:14

Looks as though they are finally getting themselves together 🤞🤞

[soulsauce] 26/10/2022 10:23

Hmmm, indeed!!

[epifanio1] 26/10/2022 10:21

Todays RNS translated....."We've found some other mugs to fund the company so we don't have too"

[zxie] 25/10/2022 09:32

INSP shares jump soon

[soulsauce] 25/10/2022 08:02

Yes well done to them for that 👏

[tyler90] 25/10/2022 08:01

Placing at no discount

[soulsauce] 10/10/2022 21:17

It will be interesting to see if they can get the results out on time this year by the end of the month.
It has been a year of nothingness again so it shouldn't be hard but I am sure they will make hard work of it 😏

[soulsauce] 10/10/2022 21:02

But the amount of shares issued just to raise £500k will provide a huge overhang.

[tyler90] 10/10/2022 20:55

Share placing to enhance value will be seen as a positive in the market. Depends on timing, of course, with regards to general market sentiment

[soulsauce] 10/10/2022 20:13

More shares in issue should make a bigger mkt cap but not the share price as it will likely be below 0.2p

[tyler90] 10/10/2022 20:05

"It will be higher soon enough when they do the placing but the share price might not."....does not make sense, you mean the share price will not stay higher?

[soulsauce] 10/10/2022 19:43

Lol right 😏

It will be higher soon enough when they do the placing but the share price might not.

[tyler90] 10/10/2022 19:36

He was wrong Soulsauce but selfishly I prefer this board to be quiet with few posts. Let the herd arrive when the mkt cap is much higher than £2m :-)

[soulsauce] 10/10/2022 12:16

Something to cheer at last. A breakthrough, finally, in Sarawak.

[spangle93] 07/10/2022 00:00

From PPP this morning

A recent scouting trip to Tunisia reaffirmed the Company's interest in establishing a foothold in Tunisia for future growth. The country offers a large portfolio of attractive opportunities, ranging from potential acquisitions of existing producing assets, joint venture participation on development opportunities to low-risk exploration ventures, including the previously reported Upland Resources' Saouaf Permit, where we have negotiated a Farm-In Agreement, subject to Tunisian government approvals and the award of an extension of time to enable the necessary work obligation to be undertaken.

[spangle93] 03/9/2022 07:14

For anyone to make a small fortune on UPL, they'd have to have large fortune to start with...

[kemche] 02/9/2022 15:46

They have this kind of RNS for a particular kind of sophisticated investor.

[kemche] 02/9/2022 15:45

"The resources for the joint technical study will be primarily sourced from Upland Resources (Sarawak) Sdn. Bhd. and BOV. The study is expected to be completed by end of 2023"

How much "resources" does UPL have?

But end of 2023 for the whoosh!

[soulsauce] 02/9/2022 14:48

Lol well it would be hard for you to argue otherwise.

[henrymcivor1] 02/9/2022 14:43

Yeah whatever