Upland Resources Share Discussion Threads

[cudmore] 05/6/2018 17:20

look at those delayed 1m trades. Someone is hoovering these up 😉

[moormoney] 05/6/2018 16:37

Nice tick up at the end.

[stark industries] 05/6/2018 07:20

Lol ok get it :))

[soulsauce] 05/6/2018 07:19

No. I was stating that like UPL my UOG fell away in the almost identical way late yesterday afternoon.

[duplicate book] 05/6/2018 07:19

I think he was meaning a few of his holdings Stark. UOG dropped away towards the bell like UPL yesterday afternoon.

[stark industries] 05/6/2018 07:17

On your post 2784 you wrote a few of yours fell away I thought you were stating that a few of your shares were sold ?

[soulsauce] 05/6/2018 07:15

Why do you ask? I never have a stop loss, especially on a share I am so confident on.

[stark industries] 05/6/2018 06:55

Did you have a stop loss on your shares Soul Sauce ?

[stark industries] 05/6/2018 06:53

Thank you for the facts Sja

[sja123] 05/6/2018 06:50

From 21st May RNS:

" Upland has recently held meetings with the Board of Petroleum Sarawak Berhad ("Petros"), Brooke Dockyard and Engineering Works Corporation ("Brooke") and other relevant entities, in Kuching, Sarawak. The Company also attended a conference held in Kuching on 16(th) May 2018 where the Chief Minister, the State Legal Counsel and Petros laid out the plans for the Sarawakian oil & gas industry to a large audience of industry professionals and the press. Upland were able to discuss matters with the Chief Minister of Sarawak following the conference.

Plans for greater independence for Sarawak in upstream oil & gas were confirmed to be unchanged after the national election, the result having had little impact on this process. This push for more independence in this industry is clearly popular with the people of Sarawak and enjoys broad cross-party support. "

Worth reading this RNS in full again.....slowly....
Note....the State Legal Counsel....they would have been expecting this challenge IMO...

[sja123] 05/6/2018 06:36

Petronas IS the government.......of federal Malaysia, or at least an entity of. Petros is the new entity set up by the state government of Sarawak.

I would assume that this will be decided by political agreement between Sarawak and the Malaysian goverment....maybe they already have an agreement in principle to open up Sarawak....that would make sense with UPL getting involved....these things have been ongoing for a while I would think.

It's likely, that if left to law, the courts would back Petronas, as there is an act of parliament governing this, the 1974 Act. It is up to politicians at state and federal level to change this Act.....we have a previous Sarawak politician on our board....I would hope he has a good insight into what will evolve here and we just wait to see the outcome....

By the way....

Wick is a company maker if it comes in...
North Africa 1 TCF asset mooted is a company maker if it comes in....
Something else in Africa or elsewhere?

Sarawak is important and may well have a planned political outcome already....but should the focus change, I will rely on Dr Staley to get it right for shareholders...after all, the board hold a lot more of these than we do!

All IMHO etc

[doughty] 05/6/2018 06:35

I havent sold out...I am here for Sarawak with Wick a nice short term distraction...I am sorry if I have spooked you with my thinking aloud...I will keep those thoughts to myself and remain a UPL cheerleader !

[soulsauce] 05/6/2018 06:28

A few of mine fell away late afternoon so not sure this is anything specific. Take uog for example.

[thejaba] 05/6/2018 06:19

Doughty You really need to let things take their course. This is posturing to show one another's muscle.Imho Petronas will not challenge anything. A govt is entitled to change things anytime. If their was a law in 1974 which ppl had been following saying we had to dress like cavemen...would the govt never be able to change it cos someone's unhappy?If you've sold out good for you. But I'm not sure worrying on a public BB is gonna help if u hold as you are merely guessing an outcome which imho hasn't even started. This is negotiations pure and simple. The good thing is that it is being taken seriously that the government want to open things up. Even better that upl are in a prime position. To my mind this is a buying opportunity.

[doughty] 05/6/2018 06:17

...lets see how it plays out...I remain fully invested and I hope that we have a speedy resolution...uncertainty is bad...on that we can all agree !

[doughty] 05/6/2018 06:14

I am trying to be objective here stark...I have a lot invested here and am trying to get a handle on what implications a potential Petronas court case will have on Sarawak's desire for more autonomy and to change the O&G landscape...of which it looks like UPL plan to play a large part

[stark industries] 05/6/2018 06:11

Doughty you sure you did not sell out yesterday?The late trades and your posts say a lot ;)

[thejaba] 05/6/2018 06:08

Doughty You seem to assume a lot. No one says a court case is going on for years. It's a oil company aggrieved why a govt want to change terms of an agreement, which they are entitled to. After all an agreement doesn't ever last forever and ever.This is positive as it shows that the govt will not stand for the status quo and allow new ppl in. All good for UPL. I've never seen anyone beat a government. Read OXUS or Churchill who imho had watertight cases but went out of business when they lost to their respective governments.

[doughty] 05/6/2018 06:02

They are making people reapply for existing licences...dangerous to assume...but I assume from yesterday's statement that Sarawak want more than the current 5% PSC share ?...for new AND existing contracts...and looks like replacing Petronas with Petras...Petronas not happy and clearly think that they have a monopoly from the 1974 agreement ! We dont want a court case dragging on for years thats for sure...we may get clarification soon...hopefully !

[1bluehorseshoe] 04/6/2018 15:48

I know but they are effectively upl partners. None so blind eh?

[thejaba] 04/6/2018 15:45

This is not the RBD thread

[1bluehorseshoe] 04/6/2018 15:40

If you read today's RNS on RBD you'll see an updated estimation of Corallian play. It also says that participation from existing partners would be beneficial. If so and why not, more funds required? All good at the end of the day but nothing goes up in a straight line.

[thejaba] 04/6/2018 15:37

Doughty They are not tearing up agreements. They are letting Petronas have wat they've got but want to do stuff differently from July 1. It's their decision and I'm sure their legal team have checked it out. This is a buying opportunity imho

[2prsimo] 04/6/2018 15:32

Ouch!! and a bit of a chart-buster - you don't need this last thing in the afternoon - looks like a few are getting scared out given the articles floating about.