Upland Resources Share Discussion Threads

[argyle underclap] 15/4/2024 09:14

Not that I know.

It’s Pending. But been pending like forever, and ever and ever...

[stockhunters] 15/4/2024 08:47

can someone clear this up

does UPL own the licence or not?

[michaelwhight] 12/4/2024 15:33

Ah yes but those Bollinger bands are getting wider again. I'm looking for 4.5 as a mid point with a push over 5 before news hits.

[spangle93] 11/4/2024 10:18

Ah, that view was soooo yesterday, michaelwhight :-(
But a bit of consolidation is to be expected without news

[michaelwhight] 10/4/2024 09:22

Looks like we could break into the 5's before news. Fantastic upward pressure now.

[henrymcivor1] 09/4/2024 12:39

UPL - Living rent free in a lot of heads since 2016.....

[stockhunters] 09/4/2024 08:10

why not just buy boil that is £10million mcap compared to upl that is £50million?

[soulsauce] 08/4/2024 12:09

Back in the 4s great to see.
Hopefully the start of something.

[soulsauce] 05/4/2024 15:53

🤣🤣🤣

[haggismchaggis] 04/4/2024 15:17

Following a successful week spent in Sarawak finalising the PSC framework, UPL & PETROS are NOW in the FINAL STAGES of deliberations on the PSC award and framework
.

[soulsauce] 04/4/2024 14:41

About time fingers crossed.

[henrymcivor1] 04/4/2024 14:32

Something stirring today? Looking strong

[soulsauce] 02/4/2024 09:04

Cheers Spangle, maybe both are true.

[spangle93] 02/4/2024 08:51

Just a wee postscript for the lost UK licence

Our former partner, BOIL, was a bit more explicit for the reasons.

"Offshore UK Licence P2478 will be surrendered to the UK North Sea Transition Authority ("NSTA") on 31 March 2024, following unavoidable and significant delays to the acquisition of 3D seismic data, as had been stipulated in the Deed of Variation concerning the extension to Phase A of the Licence. The delays largely result from the continuous wind farm construction activities in the area. ...

"Despite strenuous efforts by the Licence administrator on behalf of the Joint Venture, ourselves and the NSTA to establish a way forward for the Licence, we have reluctantly agreed that there is no clear pathway to acquiring the necessary 3D seismic and subsequently drilling an exploration well on P2478 in a timely fashion given the competing activities in the Licence area."


So, it was ultimately the Greens that killed it!
Eiher that, or it was a very convenient excuse for 3 cash-strapped partners not to have to find the cost of doing the stipulated additional work

[aimscam1] 28/3/2024 14:46

Wow what a bounce . Needed one after the massive fall.

[soulsauce] 28/3/2024 13:10

Back down on good Friday, yep good one goforgold you moron.

[goforgold1] 28/3/2024 12:56

Wow some multi name posts on here trying pump it up . It's still way down from its high back down tomorrow as always people trying get their 5 to 10 percent mms playing this correct . Next week back under 3p when T10 traders need to sell .

[hoper1] 28/3/2024 12:45

More news in the coming weeks

[spangle93] 28/3/2024 08:48

Well, not quite all systems ;-)

The UK system hit the buffers

But the direction in Sarawak is positive, and it sounds like the timeframe to complete the PSC is genuinely short now

[haggismchaggis] 28/3/2024 08:47

The update is totally unambiguous. No investor can have any doubt about what UPL are doing, or what news flow to expect in the near term. UPL can't make it any clearer.SK334 Exploration: Progress Report & Next Steps· Drill crew & Project teams identified, contracts under review.· Onshore drilling rig Inspection completed on 26th February 2024 at Sviadnov, Czech Republic, as part of SK334 drilling rig selection and operational preparation.· Pre-drill work programme developed for accelerated drilling programme.· Commencement of formal farm-out proceeding with interest from strategics reviewed, shortlist now being finalised.· Planning & scheduling of anticipated works with PETROS.· Engagement on PSC work scope with PETROS.Following a successful week spent in Sarawak in March progressing and finalising the PSC framework, and further to the announcement made on 5th February, Upland and PETROS are now in the final stages of deliberations on the PSC award and framework.Bolhassan Di, Upland Chairman and CEO commented:"Full focus is now on our intended high impact drill campaign onshore Sarawak. We look forward to updating the market on the lead prospects for Block SK334 as well as licencing and contracting arrangements in the coming weeks as we scale up development on Block SK334 in Sarawak."

[henrymcivor1] 28/3/2024 08:29

All systems go.....https://x.com/uplandtweets/status/1773248784434106681?s=46&t=PuE8rK3ApziVhjJmecf2ogCommencement of formal farm-out proceeding with interest from strategics reviewed, shortlist now being finalised.

[spangle93] 26/3/2024 08:14

Henry - yes

I'm referring to an overall corporate investor presentation, to introduce the company in a succinct way to those who maybe want a holistic picture of its objectives, USP, management, assets, upcoming share price triggers, etc.

The monthly report isn't that.

[henrymcivor1] 26/3/2024 02:32

Are you sure you're looking at the correct website?https://upland.energy/presentations/https://upland.energy/wp-content/uploads/2024/02/Monthly-Progress-Report-for-Shareholders-Ending-Jan-2024.pdf.

[spangle93] 25/3/2024 16:00

Hi ZENGAS

Hmm, I'm sorry, I don't think I can answer too many of your questions. Other people who read this thread are closer to the chairman, and might be able to shed more light on things... Over to you


The UPL website is, well, there are earthier words, but let's just say other companies make it a higher priority to be up to date, comprehensive, and accurate. The last investor presentation I have is dated September 2020, and that's no longer listed on the site. Brooke was mentioned in that, as being a source of access to opportunities. But Upland doesn't come up in a search on Brooke's website, and while there's no search facility on UPL's (hum), Brooke isn't mentioned in any of UPL's last 3 annual reports.

I guess I'd assumed, even before starting to search, the Brooke alliance had died even before the award of the JTS. It did seem a bit of a strange deal, based on the respective size and core skills of the two organisations - perhaps it depended on personal relations of people who are no longer on the BoD. ..


As far as I'm aware (though happy to be corrected) there was no communication by the company that the right to deliver a JTS was solely awarded to Big Oil.

Nor do I believe that the award of a JTS precludes others from being considered for the PSC - on JTS award, the chairman noted "We believe that the outcome of the Joint Technical Study will give Upland an advantage for the subsequent stages in Block SK334." An advantage, rather than sole rights to be considered.


Based on what I know about PETRONAS, they are an organisation that is more designed to consider higher risk, higher reward, primarily offshore licences. While the link between PETROS and PETRONAS may not be totally opaque, I don't think corporately, PETRONAS would be interested in SK334, at least at the exploration stage. There isn't really a European equivalent of a state oil company where the state has onshore licences, so the best I could do would be to suggest it's like BP wanting to muscle in on Bramhill's West Newton play. I hope I don't have to eat my words! Perhaps there's a clause being considered in the PSC that offers PETRONAS back-in rights if commerciality is proven, but UPL might struggle with the cash flow to fund a developmeny anyway. Though by that stage, the share price will be £1, so it wouldn't be much dilution ;-)