Upland Resources Share Discussion Threads

[hulltiger] 08/10/2018 11:44

Poppet, good morning, I share your concerns, however may I suggest you read the post last night from Spangles. He eloquently made the situation very clear, regrettably it is out of UPLs hands. If it would help you, may I suggest you give the office a ring and speak to the guy, who I think is the financial person. On the other hand you can always contact SS by email but as is the case in all these situations, they will not tell you anything that is not in the public domain.You could also track the Ensco72 on the maritime maps.

[poppet123] 08/10/2018 11:19

Tiger. Good to see you posting here , this needs a blast of news and soon otherwise it will drift down to the depths of the disparate, can anyone find out where or when the rig is due to arrive, can we contact the rig company for any details or is that privileged information?

[2prsimo] 08/10/2018 11:01

Hopefully a nice "W" forming on the chart

[hulltiger] 08/10/2018 10:50

Good morning, I have received several messages this morning, asking me to stay on the BB. I most grateful, however my intention was to leave the floor clear for the gentleman who disliked my post, not to give up on UPL or this BB. For me, life is full of ups and downs and as I get older, I would rather give the floor to the person, who takes a dislike to my post, rather than fight from behind a keyboard.As for me being called Grandad, that is something, I am most proud to be,it is wonderful. I hope now that this draws this rather unfortunate matter to a close.

As for the situation today, I have found little more cash down the back of the sofa, so come on, have a look, even a small amount from all of us, will help push this back up.

[spangle93] 07/10/2018 23:40

Hi Shares188

I'm not sure how you ended up investing in UPL, or whether this is your first E&P stock, but please re-read henrymcivor's post, cos he's laid it out clearly.

The maximum influence UPL has in Wick is a veto on plans; moreover if decisions in the stakeholder group are made by majority voting, UPL don't even have a veto right. As a non-operating partner in this offshore licence, UPL doesn't contract the rig. They don't design the well. They don't liaise with the government agencies. Their sphere of engagement is to meet or communicate with other co-venturers to agree the drill site location and well activities, sign off on the authorisation for estimate prepared by FWM+Corallian, and pay bills when required.

Rig procurement in the UK (as in much of the offshore world) works by establishing a contract between an company and a rig contractor for the latter to provide a capable vessel, crew and equipment at an agreed daily rental rate for an agreed program, to arrive within a certain calendar window. The exact timing depends on 3 elements (1) when the previous user finishes, (2) the weather over the transitional period [mobile rig de-mobilisation and mobilisation is highly weather-dependent, and (3) whether it needs to return to port for any additional modifications or planned maintenance. None of these is within the control of either Ensco, Corallian, or FWM.

You could argue that UPL shouldn't have said 3Q, but they would be guided by Corallian (all JV partners will issue the same material) who in turn would be working on the best information available.

Finally, when we get to drilling the well, a similar principle applies. If the company says "we expect this well to take 20 days to complete", that means anything from e.g. 14 to 35.


edit - this applies to Wick. Like you, it feels to me that some update regarding Sarawak and Tunisia is becoming overdue

[shares188] 07/10/2018 21:23

It starts from the TOP my friend 😉

[henrymcivor1] 07/10/2018 19:09

Poor management by who Shares?

UPL are not the well management company, Fraser Well Management are.

UPL are not the well operators, Corallian are.

We've had the latest update 9 days ago.

[shares188] 07/10/2018 19:05

moormoney
I agree,
But it's not being impatient when
timelines are missed, it's poor
Management.

[moormoney] 07/10/2018 18:34

Warren Buffett had some good advice about wealth easily transferring from impatient to patient investors. It takes time to build a good company and that’s what is important and what the board are trying to do, investors agitating for news tend to get ignored.

[shares188] 07/10/2018 18:17

Sull
It's a good job too
But where is the other news also?

[sull75] 07/10/2018 17:26

News on Tunisia or Sarawak could drop anytime, it's not all about Wick.

[tialouise] 07/10/2018 16:51

With all respect , the market can think and do what it wants unless people are t- trading upl . It's not when they drill or any delays , they could be 6p or 12p pre drill . It's what the results of the drill are that matter , unless you're not a investor xx gla

[shares188] 07/10/2018 16:21

I still think if no news in October
then this will struggle .
I also think 6p before results
on wick due to the timelines
being missed, the Markets don't
like company's that have delays.
Let's see, I thought it might be
a small delay and said the first
week of October, now that's gone
I'm thinking very end of October.
All very well being laid back and
saying I don't care when it drills,
but the Markets will punish this ..
Just saying, good company's stick
to their timelines and especially in
the oil game, keep investors updated.

[divmad] 07/10/2018 15:26

Well said, UPLoader. I'm in exactly the same boat as you. Not saying much in recent months because there hasn't been much to discuss, other than the "to-ing" and "fro-ing" of various drill ships! That's like train spotting to me.

[uploader] 07/10/2018 14:20

You're absolutely right Stark. I misjudged you when you first came on to this board and for that I apologise. I would also like to apologise to anyone who was offended by my remarks to Shares188 on Friday they were uncalled for. I am a LTH here, regardless of when I joined this board, and my emotions got the better of me when reading Shares188's posts. I would just like to state that there was no threatening words used toward him and anyone reading my posts will see that. Anyway I wish all true LTH's here the best of luck.

[stark industries] 07/10/2018 12:57

I think folks need to lighten up more often..
I don't think the short term share price matters to any investor here... will matter only to a trader or those seeking a lower entry position ?
UPL loader has not said anything wrong and HT is a respected poster.
The challenge we all have to face on a public BB is : -
We are all strangers here and our goal is to make money, having fun etc!
Everyone is also unique - having a different personality....etc
Each has their own take and fair play to them....but I've learned it's best just to hold back and not respond back or just use the filter if some one is making you feel in a negative mode...and there's lots of them out there.
I guess you can also get a feel of who is genuine and who's not by the stance they hold on the stock. Guess you can read it in their posts
So.
Everyone has an angle here and it's all over the markets.
DYOR and focus on the journey and end goal
Ignore the nay sayers and don't give anyone your energy and time to create negative energy....
Law of attraction....let's just keep the focus on UPL guys ;)
UPL is a monster in the making.
It's happening
Just a wee bit of patience required
GLA

[soulsauce] 07/10/2018 11:39

😂😂😂

[moormoney] 07/10/2018 11:33

😄 lol UPL.

[uploader] 07/10/2018 11:23

Since when did September have 31 days ? And there lies the problem....

[trulyscrumptious] 07/10/2018 10:01

Or we could all just try and get along.

[nlmbidc] 07/10/2018 09:57

Shares188,
If you're not happy with the board or where the share price is going you can always sell up.
Just spare us the commentary.

[shares188] 07/10/2018 08:30

Breakout, This was at those levels 5 months
ago !! there is no excitement here and being
late already has just stalled a already
lazy stock and a BOD that don't seem to
be that bothered about timelines.
Hey next month or end of the year.....
Happy to declare Sept 2018
Then change to Q4
That's real confidence lol

[throwingmuses] 06/10/2018 19:13

Well I've enjoyed reading everyone's insights and opinions on this share for long enough, before I got around to registering. All that was being said is it's a little suspicious to go from super positive to negative to super positive to negative, without imagining shares actually may be trading this. It's justifiable to point out this may be the case, so take whatever he says with a pinch of salt! Dangerous game to be out of this, things move quickly here as we know. Might be wise to wait for breakout at 4.70, but you'll have a few shares less when it gets into double figures, as I think most of us believe it will. Isn't the rig booked up by somebody else later in the quarter anyway, so much more likely sooner than later?