Upland Resources Share Discussion Threads

[1merv] 20/10/2023 20:28

Doughty, have you been contacted by a broker also? How reliable do we think this is?

[hoper1] 20/10/2023 19:38

Markets closed over the weekend - the rest is just speculation

[soulsauce] 20/10/2023 18:24

If that were only true 🤞🤞

[doughty] 20/10/2023 17:57

the 14p per share bid should liven things up over the weekend !

[upl_investor] 20/10/2023 16:11

Everyone's a comedian. Won't be laughing much on Monday.

[truant2tb1] 20/10/2023 15:33

https://x.com/truant2tb/status/1715357863466377333?s=46

[michaelwhight] 20/10/2023 08:27

It's typically 6 weeks for the legal son these things.

[potpot1980] 20/10/2023 08:06

Prob late November

[michaelwhight] 20/10/2023 08:02

To me it seems like a finalised PSC will be January from that RNS. Thoughts?

[henrymcivor1] 20/10/2023 07:21

https://upland.energy/september-jts-summary/

[doughty] 19/10/2023 12:08

shorters digging themselves an even deeper hole :-))))

[henrymcivor1] 19/10/2023 12:03

They're all popping up today across the boards and social media. Pathetic but expected.

[truant2tb1] 19/10/2023 11:24

Bolhassan Di will do nicely here, lots of retail suckers to dump his paper ontoEcotane UK proved to be a winnerCough cough

[aimbagger] 19/10/2023 09:20

4p could be tagged today by the looks of it. 5p by Xmas ?

[upl_investor] 19/10/2023 09:17

Some are absolutely spewing at the price action here. Wait to hear them next week they will be devastated

[jaknife] 19/10/2023 00:48

The "Asset" is some computer files, pieces of paper and pretty pictures. But they only own 20% of it and "it" doesn't (yet perhaps) include a license to drill. You would imagine that they would have to pay a substantial sum of money to buy that license! But they don't have "a substantial sum of money"!

[spangle93] 19/10/2023 00:45

Actually, I'd pay you money to conduct research on companies, because your research is exemplary. But not for Ghawar - I know who owns the rights to that. I also know where I can find RNS's, thanks.

The word "Asset" is taken from the company's description.

You are correct that I can't find notice of award of an exploration licence, just exclusive technical rights and data to create a field development plan, which should in time lead to award of a development licence.

[jaknife] 19/10/2023 00:17

Spangle93,

You are mistaken.

Sarawak is NOT an "asset", for Sarawak to be an "asset" then UPL would need to own it and they don't.

Furthermore, UPL doesn't have a license for Sarawak. What UPL does have is:

=======
On 1 September 2022, the Company’s wholly-owned subsidiary Upland Resources (Sarawak) Sdn Bhd (“URS”) signed a Joint Technical Study Agreement with Big Oil Ventures Sdn Bhd (“BOV”) and Petroleum Berhad Sarawak (Petros) to conduct a study on Block SK334 which covers 6685 km2 in the northern region of Onshore Sarawak, Malaysia. On 10 October 2022, the parties to the agreement formed a joint venture company Upland Big Oil Sdn Bhd. BOV and URS will finance the joint venture company 80:20 respectively.
=======

^^ from UPL's last annual report, see:



So UPL has a 20% interest in a company which is performing a desktop study on a Sarawak block.

In plain English that basically means that UPL has SFA.

You can read UPL's recent RNSs here:



If you can find an RNS that says UPL have acquired/bought/own a piece of Sarawak then feel free to highlight it but you will waste your time trying.

However, the very fact that you've written what you've written probably explains why so many retail shareholders have got so excited about UPL and are paying 3p+ for shares that were only issued last week for 0.4p. You've been mislead about what UPL owns!

Would you like to pay me £1m to join a JV that's going to perform a desktop study on the Ghawar Field? It's the largest oil field in the world!

JakNife

[spangle93] 18/10/2023 23:29

They remain a microcap company, despite recent 8-fold rises.

Their primary asset is a single licence, onshore Sarawak, on which they are discussing development options with PETROS, the state authorities. The licence is surrounded by Brunei, in which several analogous structures produce oil or have in the past. Some of these structures extend into UPL's licence. The company has guided that such potential fields could contain in the order of 1bn barrels. If so, the company would be seriously undervalued

Anyone else like to add?

[truant2tb1] 18/10/2023 22:25

Can someone pls explain the bull case to me here?

[aimbagger] 17/10/2023 12:47

4p coming ?

[michaelwhight] 17/10/2023 12:37

Apologies too. I couldn't tell who it was directed at. ATB

[soulsauce] 17/10/2023 12:23

Sells being soaked up. Still looking strong.

[haff1] 17/10/2023 11:57

Widened the buy sell gap....