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UPL Upland Resources Limited

1.125
0.00 (0.00%)
20 Dec 2024 - Closed
Delayed by 15 minutes
Upland Resources Investors - UPL

Upland Resources Investors - UPL

Share Name Share Symbol Market Stock Type
Upland Resources Limited UPL London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 1.125 07:48:07
Open Price Low Price High Price Close Price Previous Close
1.125 1.125 1.125 1.125 1.125
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Top Investor Posts

Top Posts
Posted at 27/11/2024 07:59 by tyler90
If that is what you believe, sell and move onNobody forced you to buy these shares and nobody is forcing you to keep holding them Plenty out there who reckon the risk/reward is worth it, especially with large investors buying at a higher price earlier on this year My advice is free lol!
Posted at 27/9/2024 12:04 by haggismchaggis
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Market wide re-rating coming.
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"Why I'm backing Britain: Labour has spun a tale of woe but a leading City fund manager says the share and bond markets are looking attractive"
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"Despite the tale of woe being spun by the Government about Britain’s economy, the conditions for investing in UK stocks and bonds have seldom been as attractive since the Brexit vote."
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"UK government bonds, or ‘gilts’, as well as shares, property and the pound all look like bargains."
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"Why? Because they are trading at a discount to their major overseas counterparts, having fallen out of favour with investors at home and abroad."
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"But sentiment is shifting as our economy confounds the experts by returning to growth rather than stagnating like Germany and France."
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"With election uncertainty out of the way and lower interest rates likely to help the economy gain momentum, Britain’s economy and its financial markets are in a far better position to outperform than those of other major European countries."
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"Chancellor Rachel Reeves is keen to boost British pension funds’ commitment to UK plc. If pension funds were obliged to follow a domestic benchmark, this could cause a dramatic re-rating of gilt and shares."
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Posted at 07/8/2024 12:04 by jaknife
A PSC isn't going to be "awarded" until late 2025 at the latest. PETROS have told us:

“Upon completion of the feasibility study in Aug 2024, a full e-FTG survey over Block SK334 is envisaged in second half of 2025.”

From:

They've also stated:

“This will then enable PETROS to offer Block SK334 for competitive bidding to all interested investors.” [my bold]

And hence UPL will need to find cash to bid for Block SK334.

However, *IF* UPL hasn’t spent any cash since 31 Dec 2023 (the last results date) then, allowing for funds raised since, they would currently have a maximum of £4m of cash. By the end of 2025, after normal cash burn, they will be lucky if they have £2m of cash left to bid with.

That means either:

A. UPL will need to raise yet more funds so that they have a decent amount of cash with which to make a successful bid, or

B. Block SK334 is not worth bidding for and no one else wants it, hence £2m will be enough to win the bid.

Either way it looks poor for UPL, which has looked like a stinking cess pit ever since the directors implemented the fake takeover scam in October last year.

JakNife
Posted at 28/7/2024 23:12 by jungmana
Imo the reason upl was at GBP 50 million market cap ( ie 3p+) was because the BOD made most investors believe the psc was quaranteed . Now at least everyone is slowly accepting a competitive bid will happen who knows where the share price will go. Could be very volatile. Let's see what story comes out of Tuesdays agm
Posted at 27/7/2024 07:38 by showme01
28th May 2024 RNS

'Strategic Investors

The Company's focus is now entirely on Sarawak so we are delighted that one of our largest Malaysian shareholders has decided to increase his holding in the Company. We are also pleased to welcome another strategic Malaysian investor.

M N B Zakaria, in aggregate between the Placing and this extra Subscription, has added 60,606,060 ordinary shares to his existing holding of 125,674,475.

K Meranun, a major shareholder and director in Tune Assets Limited one the Company's largest shareholders, has subscribed to 10,000,000 shares.

M N B Zakaria & M Meranun are both highly regarded in Malaysia and can facilitate significant strategic opportunities for the Company. '

This is not punt money. Highly regarding with influence paying 3 times Friday's closing price.......now why would they do that 🤔
Posted at 23/7/2024 19:25 by justa_beginer
The Oil Mining Ordinance has never been repealed even during the period of the 1969 Proclamation of Emergency. The State Government is firmly committed to regulate oil mining in the State to protect the interests and aspirations of Sarawakians.
Tonight, that commitment is exemplified by the issuance of Mining Leases to PETROS in respect of two blocks, one in the Adong Kecil West in Miri area, and the other in the Engkabang area South of Marudi. This signals the beginning of the State Government’s efforts to exercise Sarawak’s constitutional rights to regulate oil mining under the State laws to take complete control over the exploration and production of petroleum in the onshore areas.
The State Government, through PETROS, will have the control of, and legal title to, all the oil and natural gas produced from the onshore areas, and to select and appoint contractors or enter into ventures with investors to explore and produce the oil and gas from onshore Sarawak. The State Government will have in place a fair and business friendly regulatory framework and environment to attract investors to participate in the development of oil and gas industry.
Posted at 22/7/2024 08:48 by zengas
After this article and todays RNS that UPL are in communication (could that be inferred as no discussions on the psc award now ?), they need to make some open and concrete commentary on that article. Seriously i hope they are in better grasp of communications etc with what the government has been doing and saying given the absolute shambles in dealing with a bogus bid and a week to establish such while the share price ran away to silly levels and m/cap.

UPL have continually emphasised final stages and as someone else posted, the same story about expected shortly has been trundled out for months.

This article from Petros saying it will be available to all interested investors clearly signals UPL are not as sure of themselves as they think and is nowhere near being close to a done deal. They want more seismic and FTG before it will be offered to all interested investors. Not good at all. Some serious explaining needed.
Posted at 22/7/2024 08:21 by zengas
I see they released this RNS after this article appeared from Petros. Not only do i not expect any drilling before 2025 as i had said a number of times - (even UPL allowed this to creep into their most recent commentary) but more seismic and FTG needed 'before' they will offer this block to 'ALL interested investors'.


REJUVENATING AND UNLOCKING SARAWAK’S ONSHORE HYDROCARBON POTENTIAL

Date: 20 July 2024

Another focus is Block SK334, located near Limbang & Lawas in Northern Sarawak with total area spanning around 6,685 sq km (Figure 1). A total of 450 line km of 2D seismic data were acquired over Limbang area in 2016 while the rest of Block 334 acreages have no seismic data coverage. The block is covered by first generation of Full Tensor Gravity (FTG) data acquired in 2015.

PETROS will be conducting a blockwide de-risking activity in SK334 by reprocessing all the existing seismic data which is scheduled to be completed in Q1 2025. A feasibility study on the application of e-FTG in Block SK334 is also currently being assessed.



Upon completion of the feasibility study in Aug 2024, a full e-FTG survey over Block SK334 is envisaged in second half of 2025. It is necessary to acquire the e-FTG survey over the entire SK334 block in order to have a wider comprehensive dataset (full tensor, gravity, magnetic and LIDAR) which will be processed, interpreted and integrated with seismic and other geological data. Given that e-FTG will provide high quality data with speed and wide coverage, the results will enable design and cost optimisation of future seismic acquisition plans.


PETROS has also recently completed the northern onshore Sarawak geological field work. The integration of the collected geological samples and analysis from the field data is part of our effort to improve the geological understanding of the petroleum system in SK334.

PETROS is confident that with the additional high-quality datasets gathered, we will possess far better geological understanding to mature a technically robust prospect to drill in SK334. This will then enable PETROS to offer Block SK334 for competitive bidding to all interested investors.

Full article
Posted at 21/6/2024 16:03 by zengas
Well if's the same person, new company (Vanguard Energy Company ltd) or not, he seems to have a wealth of drilling experience, so that would put that to bed.

Again, could be avoided re poor info on the website and zero presentation where investors and potential investors have to look for clarification.
Posted at 21/6/2024 14:56 by richsif
Have I heard of Cove ? Is this guy serious lol

Does someone else want to break it to him?

Anyone!! ?


Ok I’ll do it

hxxps://upland.energy/subscription-by-cornerstone-investors/

‘ The Financing (including the Subscription), is conditional upon final FCA approval of the Prospectus, and will be led by a small group of individuals most of whom were early-stage investors in Cove Energy plc. They have indicated they will invest a minimum £1,000,000.’

What’s funny is that you said you were previously invested here. Go back to LBE, we have this covered.

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