Upland Resources Share Discussion Threads

[divmad] 02/8/2018 21:43

Argyle, so what does a Twitter group have that mere mortals on this or the other bb can't access?

[argyle underclap] 02/8/2018 21:38

Also recommend Zengas post from today. In fact, trawl thru this B.B. and read all of them. Zengas has been in since float. Night o

[argyle underclap] 02/8/2018 21:27

Lots of talk and excitement over on the UPL twitter chat group tonight. Mainly Tunisia and Wick. I think the share price will be quite strong tomorrow. The seller this morning is believed to have been cleared. I recommend a re-read of Zengas post re potential of 1TCF gas a couple of months back. And what it could mean for the UPL share price should UPL hit something similar with the Tunisia asset. It’ll send u to sleep with a very contented smile on ur face.

Edit - I reposted it in post 3618, please also note Zengas reply in response to that reposting re adjustment for the subsequent placing.

[trulyscrumptious] 02/8/2018 18:10

Actually moormoney, I think it will if you have a little more patience. I am no chartist but the chart does look as though it is in for a long term upward trend.

[doughty] 02/8/2018 18:07

There are some chartists in the group chat posting very impressive graphics and getting v v excited...but we cant paste graphics here !!!...roll on tomorrow they are saying :-)

[moormoney] 02/8/2018 17:55

It’s doing very well but I think it needs to sail past 4p to make new highs for a breakout.

[tyler90] 02/8/2018 16:40

Any chartists on here?Do we have a confirmed breakout?

[cashandcard] 02/8/2018 16:34

Copperpot, hulltiger,


Just to reiterate, I do not doubt there are untapped volumes in hardstoft. Its the bureaucratic nightmare which partners in Wressle are now experiencing again that turns me off. Loads of oil in Wressle, worth diddly squat if you are refused planning. I just think our monies are spent better elsewhere than onshore UK. Yes, the Environmental/Green & NIMBY's are a hassle a small company could do without.


Cash

[doughty] 02/8/2018 15:55

....thats a silly and pointless bit of gesture politics !

[tyler90] 02/8/2018 15:47

Pretty obvious what the Sarawakians would want!

[michaelwhight] 02/8/2018 15:11

Hammer time on the chart ??

[tialouise] 02/8/2018 15:07

Yep it's a buy xx

[soulsauce] 02/8/2018 14:54

I should imagine there is some information, known to the company, on the well drilled. I doubt it would have been flow tested but pay thickness would surely have been logged giving them a clue to potential.

[argyle underclap] 02/8/2018 14:43

The 250k priced at 3.566p, timed at 13:37 (trade 38) has to be a buy

[moormoney] 02/8/2018 14:40

Thanks Zengas. I’ve added a few more too!

[zengas] 02/8/2018 14:38

Tunisia imo. I would say 1 tcf is an initial figure and maybe based around the potential of the existing discovery/wider connected area ?

The licence is 1 million acres and it's full potential can't be known.

By comparison in Tunisia - "The Sabria concession (26,195 gross acres, Serinus 45% WI) comprises a large Ordovician light oil field that provides Serinus with a stable production base from its large reserve base and long reserves life index.
The Ordovician reservoir at Sabria contains 358 MMbbl OIIP (P50)1, into which only eight wells (12 including re-entries) have been drilled".

Also worth noting - "Allows the company further scope to build on this initial acreage" - would suggest that there could be more to come in due course.

[soulsauce] 02/8/2018 14:32

Nice post Zen.

[doughty] 02/8/2018 14:14

...great stuff as always Zengas !

[argyle underclap] 02/8/2018 14:10

Zengas - on balance, do u think the 1TCF relates to Morocco or Tunisia? Tia.

[zengas] 02/8/2018 14:03

Some months back i mentioned the potential that UPL could possibly create relative to what happened at Sound Energy if they got the right permit - and one with an existing discovery!

This licence is also appraisal. "There is the potential for very substantial quantities of recoverable gas within the permit area". Note not just substantial but 'very'. I also think that they could tell us that this licence (on account of the discovery) could have contingent resources. In the case of 2 companies ie Sound and Mazarine - each had a contingent resource due to existing discoveries.
Yesterday the RNS said the permit has an existing discovery - What is the extent of the existing gas discovery (when gas wasn't the target) ?

Going back to page 13 of the Dec presentation where they mention Morocco/Tunisia. Permit with estimated in place resources > 1 TCF gas potential in open acerage. Multiple low risk discoveries and prospects though unclear if those multiple discoveries/prospects relate to this permit.

Steve Staley was responsible for bringing Tendrara in Morroco to Fastnet for $300k entrance fee and a $2.75m bank guarantee. (Fast never drilled the existing unnappraised discovery) and subsequently went to Sound Energy who created over £1b of value at it's peak and now down to £440m.

"Upland will act as operator and hold a majority stake" - This is what Sound did but brought in Schlumberger to pay for a 3 well programme.

Mazarine Energy are a private oil and gas company founded in 2013. They acquired the Tunisian 5,100 km2 Zaafrane permit in 2014 with prospectivity for over 200 mmboe (which is 1.2 TCF on a gas basis).

They drilled it in early 2015 with the CAT-1 well and got 4,300 bopd oil and 13.9mm cu/ft gas/day. 2nd well also came in. The giant Carlyle group in mid 2016 came in as an investor and an equity line for $500m.

Ambition for UPL to make a lot of money for the shareholders which includes themselves as directors who have a massive amount of skin in the game - if they can do it on a par with Sou or Mazarine from this one permit alone, this would be a game changer for a £20m m/cap company with Sarawak/Wick/Hardstoft all as seperate opportunities.

[doughty] 02/8/2018 13:28

...spring and coiled Argyle....

[argyle underclap] 02/8/2018 13:25

Doughty - Agreed!

As I keep saying nothing AT ALL is priced in here for Sarawak and Tunisia.

NOTHING.

Wick alone covers the current £20M cap and justifies a multi bag re rate.

A groundswell of interest is in evidence here.

[hulltiger] 02/8/2018 13:22

A view from Barchart

[doughty] 02/8/2018 13:20

Also from the chat group...interesting point well made....

"How often does a CEO of a micro cap oiler give shareholders an insurance policy against downside risk on a wildcat 10 bagger well? thats what SS of #UPL has given. 1tcf + appraisal drill with infrastructure! funded!"

[stark industries] 02/8/2018 13:16

Awesome stuff Argyle