Upland Resources Share Discussion Threads

[argyle underclap] 03/8/2018 10:01

Yes Slightly out of date BN in not factoring in dilution in my xcitment I forgot about that, but 72/58p, the general jist is the same when looked at from 4p I’m sure we agree

[doughty] 03/8/2018 09:57

...the chartist suggested a possible ( only possible ) drop back to 3.7p and next rise is to 4.9p

...of course further news could change that...

[doughty] 03/8/2018 09:50

Zengas...we already had Wick when that prospectus was written and it mentions "further" opportunities in the areas mentioned...i.e inc the UK...I always expect something left field*...this company and situation no different

*left field GOOD

"we are entering a busy period for the company"....not all of it flagged up already...cards close to chest for obv reasons

[zengas] 03/8/2018 09:41

Thanks doughty

"The Company is currently looking at further onshore and shallow marine opportunities primarily in the UK, Tunisia and Morocco (e.g. the Rharb Basin in Morocco) and the Far East (Malaysia)."

So far we've got Wick (UK), Tunisia announced and MOU announced in Malaysia.

re offshore shallow marine - maybe something yet in Morocco or perhaps terms in Tunisia better and they haven't succeeded in doing a deal in Morocco ? If they were after offshore in Morocco I doubt if they would spread themselves so thin with both on and offshore in Morocco ?

Post 585 - From AEI 10/10/17

" Former BP exec Stephen Staley plans offshore comeback

UK-based junior is hoping to soon see an outcome from its lengthy talks with the Moroccan government to acquire a permit in the country's offshore. The company has been in negotiations for several months after its teams identified several blocks following due diligence work and geophysical surveys of the area.

Upland boss, geologist Stephen Staley, is an expert in North Africa's oil sector. Staley, who previously worked for ConocoPhillips and BP, founded Irish junior Fastnet Oil and Gas in 2011. Staley, who was a consultant for British concern Cove Energy in East Africa currently sits on the board of 88 Energy a junior active in Alaska. "

[stark industries] 03/8/2018 09:33

Doughty you're research is top notch buddy.Keep it up ;)

[doughty] 03/8/2018 09:26

"substantial North African opportunities"

[zengas] 03/8/2018 09:20

They say they've been looking at the Tunisian licence for a year or more and that it now puts them in a position to acquire more.

page 13 - 'Onshore Morrocco & Tunisia' - "Now assessing several attractive opportunities including..." - It didn't specifically say which country the licence was with ">1 tcf gas potential in open acreage".

Yesterdays announcement "exclusive licence for exploration and appraisal of attractive open acreage" … "and partly de-risked by an existing gas discovery"

Last time I spoke to the CEO and asking about time in making deals, he reiterated to me that they were after the cream and not any mediocre asset for the sake of having one.

[argyle underclap] 03/8/2018 09:10

Spangler, where does it refer to Morocco? Prospectus?

[tburns] 03/8/2018 09:03

300k bought full on the offer should see another tick up here, good Friday at UPL

[spangle93] 03/8/2018 08:57

I'm sure we'll be able to get very excited once we are allowed to know more about Tunisia, but just to note that the quote "Up to 1 TCF gas potential in open acreage" that has been used to give an idea of North Africa prospectivity actually referred to Morocco, not Tunisia.

[cashandcard] 03/8/2018 08:51

Zengas,


I think the Tunisian asset is well located. Not KH, which I was fearing, a tight oil asset on the Libyan border, rife with difficulty & security risk. Much better located license in the north with good strategic access to commerce/industry hubs and, importantly, the TansMed pipeline. SS did mention there is potential to discover 'big things' so being close to that is great positioning.


Cash

[tburns] 03/8/2018 08:45

Thanks for that synopsis Zengas, reinforces why we are all here

[zengas] 03/8/2018 08:18

The last placing supercedes that broker note of May - so expect a new one soon given we've now got a substantial licence with a gas discovery.

The company has almost $12m of available cash including the loan notes.

With the extra shares in issue, the 72p that is quoted for Wick fully diluted basis would become 57p.

Now with the Tunisian licence and an existing discovery - Gas prices are excellent v costs and using $6/boe (ie $1/mcf) or less than 1/3rd of what Sound Energy is using - a 250 bcf discovery would be worth 37p - 148p for 1 TCF (and the intention to add more acreage).

With a deal from the MOU in Sarawak to come, who knows what value there ?

Hardstoft probably 1.5p - 2.5p with some upside beyond the 2P/2C on the 3P/exploration upside.

With the exception of Hardstoft, only one asset needs to come good to deliver significant value imo and I have always believed that bringing in a large asset/licence with a discovery and therefore somewhat derisked as the CEO said, we should be closer to 10p given the scale of these.

[poppet123] 03/8/2018 08:13

I am in for more this morning, well...... It would be rude to miss this party.

[tyler90] 03/8/2018 08:13

Pre-drill Wick (with no further news on Sarawak or Tunisia), what do folk reckon?My guess is 12p

[trulyscrumptious] 03/8/2018 08:06

Amazing, we are #8 on the leader-board for top gainers!!!

[argyle underclap] 03/8/2018 08:03

Wick. Tunisia. Sarawak. All potential belters in their own right. And Wick alone on success has BN target of 72p.

Also Morocco prospect being assessed.

[maverick247] 03/8/2018 08:01

Yep real company developing here with time taken to find real assets

[argyle underclap] 03/8/2018 07:58

Hats off to the doc, he knows how to run a company. Lots of nonsense elsewhere.

Not here.

[cashandcard] 03/8/2018 07:54

Morning All,


Grabbed a few more. Yes, the market is finally starting to take notice of the upcoming Wick well. Forget Sarawak or even Tunisia, this well alone has company making potential if successful. Just look at those numbers.


Cash

[thejaba] 03/8/2018 07:54

there will come a time when this will go up in 0.5 and 1p chunks

[yogaboy] 03/8/2018 07:51

Noooooooooo! Not yet, pleeeeease! Aaaaaaargh!!!!