Upland Resources Share Discussion Threads

[kemche] 11/1/2017 11:24

2hrs and 35mins to meeting............

[comedy] 11/1/2017 10:59

been dumping profits in here over last 2 to 3 months.

[rolo7] 09/1/2017 16:43

good finish there!

[tyler90] 09/1/2017 12:19

MM's asking for more than quoted bid (1.425) for 500k as indicated by trade just gone through.

[kemche] 05/1/2017 16:47

Things moving at a pace:

[billyboychrisd] 16/12/2016 07:21

Good reminder, completely forgot. Money is in safe hands here.

[kemche] 12/12/2016 19:58

AGM on Friday.

[yogaboy] 09/12/2016 15:37

Nicely back inside the one-year trend line boundaries.

[[e-mail]] 09/12/2016 14:47

looking on the bright side

[kemche] 09/12/2016 13:42

Optiva increased shareholding by 15m - which, as the Financial Advisor and Broker to the company, I shall simply file in folder marked "interesting".

[zengas] 25/11/2016 15:13

What it throws off could self fund increasing that initial 50 bopd to beyond 100 bopd at Wressle.

Then with the Hardstoft field 2C oil to develop, they could bring on a few hundred bls there via the 2 wells that are to be drilled at a net cost of around $750k each to UPL.

They are burning very little cash - just £420k for the year to end of June 2016.
Cash burn/admin is estimated at £300k per year.

At the end of June (5 months ago) they had £1.039m cash remaining and if they have used say £239k since then, they would still have cash of £800k.

They are raising £2.2m - about £2m net of expenses at a 30% premium to the first placing despite no movement beyond the 1st asset acquired.

This new acquisition is costing £1.6m and they are paying for it with £1.3m in cash and £300k in shares at 1.3p.

That will leave them with £700k cash from the placing and imo from the recent accounts a further £800k - so in total they should be sitting on £1.5m of cash.

Existing shares = 213.98m. £2.2m placing shares = 169.230m. Consideration shares instead of £300k cash payment = 23.076m.

Total shares in issue post placing = 406.245m @ 1.3p = £5.2m m/cap with £1.5m cash.
Reserves and near term production and therefore possibly self funding as they build production to a higher level across both the UK assets.

[kemche] 25/11/2016 14:41

The figures above represent merely turnover from the oil and not the net profit attributable to UPL.

[on target] 25/11/2016 14:37

Presumably there will be a lifting cost and overheads to pay though?

[yogaboy] 25/11/2016 12:59

There is movement billy but sadly in the wrong direction. Despite substantial buying, the market appears to be moving the price down towards the forthcoming placement price of 1.3p, suggesting it places no premium on the value of this announcement.

That's a little surprising, as anyone basing their decisions on "follow the directors" will see that the BOD considers this to be a golden opportunity to top up.

I guess the market was hoping for something more spectacular in time for Christmas - whereas this is merely in line with the solid but low-key strategy the company is following.

[billyboychrisd] 24/11/2016 14:20

Huge trades, why no movement!? :-/

[argyle underclap] 24/11/2016 13:56

a flood of big trades going thru since 1pm

the biggest a buy of over 9Mill...

[zengas] 24/11/2016 13:51

Directors in for £842k which is almost 40% of the placing. Malaysian Chairman who already holds just shy of 29% has taken the bulk of that 40% with a £737,000 purchase.

Will give them an initial anticipated 50 bopd here and before their other low risk asset start up at Hardstoft.

Morocco, Malaysia potential assets being evaluated and I think this is why the Malaysian Chairman is taking/maintaining such a big stake.

[rolo7] 24/11/2016 13:10

news just out

[kemche] 14/11/2016 18:59

Let's just say enough to be a NED!

[thejaba] 14/11/2016 18:36

KemcheHow many u got

[kemche] 14/11/2016 16:07

Had my last lot of these and am up to the gunwales!

[argyle underclap] 14/11/2016 12:02

News soon (from todays RNS)...

CEO: "I look forward to updating the market with further developments in the near future."