Upland Resources Share Discussion Threads

[soulsauce] 24/10/2023 19:45

Yep neo because people/entities are always timely at completing tr1 notifications 😏 not.

[neo26] 24/10/2023 19:38

But seriously dont know much about company only got my eye with that gigantic bid.The acreage may share similar geology to nearby oil fields in Brunei but no wells have been drilled in this acreage how can someone just jump in with 170m bid and then board say the significantly undervalues upl.Doest make sense.

[neo26] 24/10/2023 19:32

The offer yesterday was unbelievable, share price 3p but offer of 14p.If the billionaire really wanted it he could easily buy shares in open mkt and put pressure on board. I think over 80% of shares in public hands which are not all sticky.We have seen no holding rns today so the city doesnt believe.The board should listen to the offer it was 5x mkt cap, this wasnt fair on shareholders.

[robwalsh25] 24/10/2023 19:18

Usual names spreading fear, u would think they would at least change names occasionally to make it a tiny bit believable.

[neo26] 24/10/2023 19:13

But no wells in sk334 block

[soulsauce] 24/10/2023 19:01

Yes and we all know what happened with Cove. That made some investors very wealthy.

[ronson333] 24/10/2023 18:57

Neo 16 out of the last 18 wells in the Swarak region have hit oil in the past four years. China is building a $5 billion dollar refinery in the Swarak region and our ceo is closely connected to the government. Early investors of Cove Energy (also from Cork in Ireland) are heavily invested in here.

[oilisgold] 24/10/2023 18:55

Shocking to say the least how thick some investors here are or maybe clueless shorters. Either way in less then a month we will find out

[pwhite73] 24/10/2023 18:43

neo26 - As I said before the directors fight to keep their jobs. It has nothing to do with any company assets.

[pwhite73] 24/10/2023 18:41

JakNife - EUA is a completely different kettle of fish. That was merely talk of a sale of the assets. UPL claims it has been approached for the entire issued and to be issued share capital and even quoted a price of 14p. If this is untrue then I repeat its not just fake takeover news or a scam but a financial crime of the highest order.

[neo26] 24/10/2023 18:37

This is what i dont get, company states in rns that 14p significantly undervalues the company.Not many presentations on their website but owning nothing in malaysia how can they value that at any value. No wells have been drilled just based on what Brunei has produced.

[neo26] 24/10/2023 18:32

If bollinger is serious, make offer of 14p official, i can bet shareholders agree to it.I dont think the board has over 50% of the votes, hostile takeover can easily be achieved.Upl can not develop the block they have to get a partner which will take years to develop. Panr finding it difficult to find a partner too.

[neo26] 24/10/2023 18:22

Why would the warrant holders sell if offer of 14p coming, it doesnt make sense.Company working on acreage which is near large fields. No wells have been drilled but 170m pounds has been offered with no reserves booked.Do they have assurances from malaysia they will get license.

[truant2tb1] 24/10/2023 17:25

There is no takeover guys. It's a scam for insiders to dump their shares on numb nuts like youOh and shorters to profit as wellEnjoy your evening

[pwhite73] 24/10/2023 17:09

Sensemun - "I own UPL shares and quite frankly this offer is a complete scam"

What is a scam the price of the offer or the indicative offer. If no indicative offer took place this is not just a scam but a criminal offence committed by the parties responsible. Two announcements have gone out. One announcing the indicative offer and the other naming the person behind it.

This is not your normal scam of discovering 100 million barrels of oil only to report the well is dry after the first log results. This is fraud on massive scale if found not to be true. A 100 million warrants have been exercised into the offer news.

[pwhite73] 24/10/2023 17:06

apfindley - "Why? If they were picking up shares at 6p or even at 1p or below just a month ago, they could STILL make a 14p offer, or weren't you aware of this?"

The RNS says 14p for all of the issued and to be issued share capital. Which means 14p for every single share. Now if they were buying shares for 1p or 6p a month ago knowing of their intention to bid for the whole company at 14p it is tantamount to insider trading.

[apfindley] 24/10/2023 17:00

"Likely a verbal" offer???Whaaaaaaaaat?You cant be serious.So if I goto a pub and bump into a ceo and say i'll offer you 180 million for your company, then the next morning he's going to wake up and issue rns that he's spoken to someone about a preliminary approach, and the exchange invokes takeover code.Wow we really are in a paperless world.

[sensemun] 24/10/2023 16:58

I own UPL shares and quite frankly this offer is a complete scam

[apfindley] 24/10/2023 16:55

They can't put the vote to shareholders, like they should do, because no genuine offer exists.

[haggismchaggis] 24/10/2023 16:54

Buff,.It is an offer, unsolicited and likely verbal, but still an offer because they named their price of 14p. It's what these companies do, they speak to the CEO directly and say what offer they are prepared to pay, to see if the company is interested before making that offer in writing. .If they hadn't said 14p then it wouldn't have been an offer and there would be nothing for the board to reject .But I guess you know that.

[apfindley] 24/10/2023 16:53

Why?If they were picking up shares at 6p or even at 1p or below just a month ago, they could STILL make a 14p offer, or weren't you aware of this?And in saying an offer for 'all shares'; had they already been an owner of a chunk, it would be cheaper to buy all as they'd already own those.So not a very smart move to not accumulate some first.Hence it appears a hoax.

[haggismchaggis] 24/10/2023 16:50

Indeed, and Mr Bollinger appears to not only have deep pockets but is in league with other UHNW that also have deep pockets, and together they have created SEC Capital to buy up companies like UPL.

[buffinman] 24/10/2023 16:49

haggismchaggis: You say it's a fact that an offer has been made.

The RNS said "The Board of Upland confirms that it has received an unsolicited, very preliminary approach regarding a possible offer for Upland."

So the RNS only talked of a possible offer.

But you knew that.