Upland Resources Share Discussion Threads

[henrymcivor1] 27/9/2018 12:52

Same. The S Staley email address on the website.

[hulltiger] 27/9/2018 12:50

Mine did go to SS

[soulsauce] 27/9/2018 12:42

Very few staff at the company so unless you send a message to SS you are unlikely to get a reply.

[henrymcivor1] 27/9/2018 12:30

I sent UPL an email last Friday. Simple question, non operational subject, and no reply yet.

[hulltiger] 27/9/2018 11:49

Who knows but sellers have been about for a long time now and to be honest, with both delays and uncertainty, those who sold from 4p plus downwards can now buy back with profit.I have spoke to many investors known to me and they are all in a very cautious mood. To that end, I put emails into both RBD and UPL at 8.a.m.on this very subject. RBD came back to me within five minutes and I still await a reply from UPL.

[michaelwhight] 27/9/2018 06:33

Rig movements from amnesic on Twitter. Can Petrofac extend their contract beyond September. They have the option of 2 other jobs. https://mobile.twitter.com/_amnesic/status/1045170927565250560?s=19

[michaelwhight] 26/9/2018 09:27

Now we see what triggered that initial fall. At this point not much to be gained by selling in the hope of buying back imo...3p? Yes maybe but only if there is no news.

[pembury] 26/9/2018 08:46

you obviously can't read charts or valuations then 2prismo

[hulltiger] 26/9/2018 08:42

Good morning all and thank you so much for the stimulation of the BB after my comments. Of course we all do our research into a company before we invest and I as many of you, were impressed by this company. This was further strengthened by the forward planning that enabled them to withdraw from the NIMBY victory at Wressle.I have also commented on the relative safe drill at Wick, compared to others in very deep hurricane troubled waters.I do still think that private investors are very important to a listed company and should be kept fully up to date with any progress or lack of it.

As for Spangles comments on Grimsby, it is strange that he mentioned a Merc, the very car I travel through the metropolis to get to my Sunday R and R. In fairness the parts I see are not unlike those depicted in the Sacha Baron Cohen film. Even the football team play all their matches away from home!!!!!

[michaelwhight] 26/9/2018 08:39

I was really referring to today in particular. The initial 6% fall was well overdone. Good opportunity for some.

[2prsimo] 26/9/2018 08:36

No they aren't - both have risen about the same percentage-wise since September 2017

Boil have small stakes

UPL have Tunisia and Sarawak

[pembury] 26/9/2018 08:30

boil has fallen from 0.7p in recent weeks?
they are lagging well behind this in terms of share price performance. they have wick & colter drills this year full funded.

[2prsimo] 26/9/2018 08:27

Some nice buying in the last half-hour

[nlmbidc] 26/9/2018 08:10

Panic as much as you want to. Sell sell sell.

I want some more at the lowest price I can get them

Roll on 3P

[michaelwhight] 26/9/2018 07:46

I think there's a bit of unnecessary panic set in here. Sp steady at BOIL

[spangle93] 26/9/2018 07:14

Yogaboy ;-) but have you been there?

To capture trade from folks escaping the region is the reason Humberside airport was built where it is - it's one of the few airports in the world where more people leave than arrive.

[nlmbidc] 26/9/2018 06:56

And RNScs cost money so before issuing one you need to justify it.

[yogaboy] 26/9/2018 06:48

Bit harsh on Grimsby, Spangle ;)

[doughty] 26/9/2018 05:24

Morning !...not frustrated at all...happy to be part of the story...am v excited for it all to unfold and I add when I can...am happy to let the RNSs and the action in the field do the talking...that is ultimately what will count...Wick...Tunisia...Sarawak...in that order :-)

[spangle93] 25/9/2018 23:02

Doughty, ref 5320

I can understand your frustration, cos I'd like to know what's going on too - Sarawak especially - but I don't think you're being fair on the company in respect of retail investors and PR.

If there's no material news to report, then the company has no need to tell the market anything.

The pace, and release, of Wick news, as Souls said, is orchestrated by Corallian. Moreover, SS has done vox markets interviews for retail investors when there has been something to say, and has responded to emails on the couple of occasions when I've sent them.

It seems like the best path - somwhere between companies that stick out a new presentation every month with 2 words changed, or who have Malcy round to tell him that they've had a nosebleed, and other companies (e.g CASP, CAD) that only update that market when they can't avoid it.


Hulltiger,
Ref your outrage in 5309 that a well can't start cos there's no rig. [You could have added "I don't believe it!" as per One Foot in the Grave]. The Wick water depth is shallow, around 60m, the target depth of the well is very shallow compared to the region at 1200m. So it can be drilled with a low spec jack-up rig.

Jack-up rigs (the clue is in the name!) sail up to the well location, then jack down their (usually 3) legs to the sea floor to stabilise themselves, and then off we go.

So, 2 things
1. The firmness and nature of the sea floor dictates the mating of the legs with the sea bed. If it's firm, then you might get away with just akin to a coaster from your holidays under a table leg. If it's soft, then you don't want to sink in the mud (cf half of Lincolnshire when the tide is out), and you'll need spud cans or mats to spread the load. So, AFAIUI, they'd need the results of the soil survey that's just taken place before they can specify the requirements of the rig in respect of the sea bed interface (and then update the environmental application accordingly).

2. The rig is the single largest cost element of a well, and is paid for on a daily basis. There are 5 low spec jack ups operating in the North Sea arena right now, vs 30+ high spec rigs. The average high spec rig is on a day rate that's 2.5x higher than the low spec. Same as car rental - if you want to rent a top of the range Merc from Avis to get you from Grimsby to Mablethorpe (is the model railway still there?), you can do it, but you'd pay more than for a Fiat Panda which is equally capable of doing the job. If Avis only has Merc's available, then you either pay more or wait for someone to bring back a Fiat Panda. Just cos a customer like Petrofac says they'll bring it back in time for it to be ready by 10am doesn't mean that they will

Frankly, paying any amount to get our of Grimsby is probably a bargain, but I'm sure for Wick, partners will be waiting for a rig that comes at an acceptable price.

Finally, Corallian is also planning to drill Colter after Wick. Totally without evidence for saying it, but in a scenario where Colter isn't ready to spud by the time the rig reaches it from Wick, Corallian wouldn't rent the rig for Wick, cos Colter partners wouldn't want to be paying dayrate for a rig that's parked for a while after completing its work in Caithness.

[nlmbidc] 25/9/2018 20:13

Do you believe in the story and the board Doughty?

[doughty] 25/9/2018 19:56

The company is being run for the company and the cornerstone investors...with...rightly or wrongly...little regard for retail investors...the current share price or PR !...they know where they want to go and are concentrating on that...you either believe in the story and the BoD or you dont...for them its not about the NOW...the busy period will still be busy !...Q4 should be very informative in many ways

[doughty] 25/9/2018 19:41

How can UPL update you if Corallian dont update them ?...we are NOT the operator...Ensco 72 is about to move...Multratugs 14 and 20 have just left Antwerp en route to the rig...ETA 6am...will two Antwerp harbour tugs take her as far as Wick ?...who knows but the 72 could be coming off station from Petrofac and there could be a handover somewhere ?...all will be revealed very soon !