Upland Resources Share Discussion Threads

[spangle93] 03/7/2023 08:07

Adviser change, together with change of accounting period



Also, it's all bubbling under.

"We are in the final stages of signing an MOU with a large O&G engineering service company. Additionally, we are now evaluating potential PSC partners and drilling services companies to develop block SK334 in Sarawak. We expect the remainder of summer period to be busy, with multiple news flow events for shareholders."



though not even a hint that we are in talks with a large company about UK North Sea Licence 2428

[spangle93] 30/6/2023 10:08

Dunrobin drill or drop decision is due in July 2023...

Haven't heard much concerning a farmed carry, so it's either
1. going to be relinquished
2. going to be rolled over if the UK authorities are amenable

I guess thanks to the windfall tax, and stated plans by Labour to ban exploration in UK waters, everyone is as keen to be linked to a UK exploration well as they are to sitting next to the eccentric uncle at a wedding

[soulsauce] 21/6/2023 17:11

Right 😏

[henrymcivor1] 21/6/2023 16:53

Volume starting to pick up now. Next few weeks and months could be interesting......

[spangle93] 13/6/2023 09:53

Thanks snickerdog

A lot of things all happening in parallel, not sure exactly through which the critical path runs.

The seismic is behind schedule, but maybe that's just related to one missing line, such that when they have it processed, it's more of a tweak than work initiation.

Looks like they plan to starting the conceptual field development plan ahead of time.

Any imminent moves would be down to Dunrobin West farm out coming off

[snickerdog] 13/6/2023 08:02

https://twitter.com/uplandtweets/status/1668207012797194240?s=46&t=b6aWSm-QCPUbHCmfz-pt3wSpangle looks like posting on websites but not via RNS anymore, perhaps not getting the reward for the hassle. They seem to be getting through it.

[spangle93] 01/6/2023 08:11

Maybe they've gone to bi-monthly

There was one at the end of Feb, and one at the end of April

[soulsauce] 30/5/2023 09:41

Indeed michaelwhight. After a short period of excitement the company seems to have regressed to the same old ways.
Hopefully there is plenty going on in the background that is moving us forward.

[michaelwhight] 30/5/2023 09:39

The monthly presentations seem to have been binned.

[spangle93] 31/3/2023 07:38

The link in the announcement doesn't seem to reach the right target interim report



This should get you there

[deanmatlazin] 22/2/2023 17:57

Oversubscribed. Because Upland is on the land that are producing oil/gas. 4 leads found, high chance of hitting oil. I am intrigue to know how many million barrels or billion cubic gas in place after seismic study. We will know soon enough!

[berrymanl200] 22/2/2023 08:20

When people are moaning about a share that is rising, it tells you they are annoyed at missing out or their own shares are not rising.

[stockhunters] 22/2/2023 07:47

how can optiva bucket shop be called cornerstone investors lol

[epifanio1] 22/2/2023 07:12

More golden tickets from our favourite bucket shop!! Hahaha

[spangle93] 21/2/2023 15:35

In theory yes, and accept a production royalty.

But I'm not sure UPL would do that - I think they'd rather have a proportion of back costs paid in cash, and a carry for the well, leaving them with 10% of the licence equity.

[tyler90] 21/2/2023 14:56

Can they reduce their stake to zero?

[spangle93] 21/2/2023 14:11

What Soulsauce said.

The way the North Sea exploration works is that juniors invest in licences (new, or rescinded in past times when oil was lower), gather all the data and maybe invest in new data, perform studies with 2020's visualisation and modelling technology, and seek to add value through a reappraisal of the assets, culminating in an independent CPR report.

From this, they open a data room to seek to attract mid- to large-cap operators with the wherewithal to sole fund a well to gain a stake in any developmeent - in return for reducing their own equity stake in the licence

[soulsauce] 21/2/2023 09:27

Why would Dunrobin be sold? It is more likely they will give up a large slice of their Dunrobin holding for a free carry on the drill so no money would change hands thus the reason for the raise.

[tyler90] 21/2/2023 09:27

Because do not want the Sarawak work to stop and miss out on the opportunity to increase the stake from 20% to 45%Dunrobin is there as a side dish and now they are not in a forced position to sell it either

[tyler90] 21/2/2023 08:53

They could have said value creating/enhancing placing and to get it away at above the price the stock closed the previous session is a positive. Market is no dummy and it has been well received (apart from a few) but nobody gets 100% approval or rarelyThe strategy is there just need to implement it and in my 6.5 years knowing this stock, they are in the best position everWith all O&G exploration stocks you need a bit of luck and so if they get the run of the green then £50m+ mkt cap is achievable and in this year!AIMHO & DYOR

[epifanio1] 21/2/2023 08:44

No, it's to do with the RNS wording and the bucket shop raise to keep the lights while being dressed up as the best thing since sliced bread. Make up whatever reason you like but let's not call it what it isn't... ie a cornerstone investment. Its a placing ramp, treat it as such.....

[tyler90] 21/2/2023 08:37

Ha! I see..the fact you have mentioned Optiva (not my favourite broker either) tells me your intial comment is more to do with competitor rivalry or a personal issue....thanks

[epifanio1] 21/2/2023 08:32

A 1m raise via Optiva clients is hardly a cornerstone investment lol

[tyler90] 21/2/2023 08:03

Please enlighten me...are you saying that the cornerstone investors have put over a £1m into garbage so that they can sell the shares they get in the placing and then sit on free warrants? I thought you only got the warrants if you held the shares and if it is garbage then the warrants will be worth nowt too...sorry for coming across as ignorant, just need clarification...Thanks