Upland Resources Share Discussion Threads

[tyler90] 10/1/2019 23:01

No dilution...even better :-)

[nlmbidc] 10/1/2019 22:53

And when we were awarded the Saouaf license we were also advised (1st August 2018 RNS) that we could also increase the acreage.

[nlmbidc] 10/1/2019 22:50

Imagine how many more targets there could be in the other 75% of Saouaf.

[nlmbidc] 10/1/2019 22:47

There won't be a placing. There will be a farm-out of part of the Tunisia license. There are 13 identified targets in the 25% that already has 2d seismic on it.

[tyler90] 10/1/2019 22:27

If we multi bag there could be a placing to raise further funds or Tunisia farm-in may bring cash???

[gunsofmarscapone] 10/1/2019 22:07

Sull, any investor in a junior E and P should always try and visualise both sides of the equation. After all the payments have been made for Wick and the other commitments in the prospectus the clock is ticking away to mid summer. Our BOD know that, so do I and what appears to be not many others.

Other person re experts

It is very difficult to assess what is underground without physically exploring it. I hope there is something valuable there as a co-owner of the company with you but we have to remain realistic. Be coldly rational if possible, if there are moveable hydrocarbons down there in sufficient volumes then we will multi-bag

Regardless of the above we have an extremely large bill to pay. Not bashing my own shares, just remaining forensically clinical. Atb.

Your very own village idiot, GoM.

[throwingmuses] 10/1/2019 18:38

Throwing says why did anybody ever bother getting independent so called experts to unpick the potential in Wick when the gom could have done it for nothing.

[doughty] 10/1/2019 18:24

hTTps://www.bbc.co.uk/news/magazine-33943762

[thejaba] 10/1/2019 18:11

U obviously know more than the CEO. Yet he's in charge if a full listed co and you are a keyboard warrior. Hhmm

[kemche] 10/1/2019 17:50

Before investing I always pose myself the question "What would Lenin have said?".

But that's just me.

[throwingmuses] 10/1/2019 17:37

Yes gom, and Steve's so concerned he let lapse an excellent funding facility. Maybe something to do with Tunisia having much greater reserves than anyone was expecting, and it opening up the possibility for exciting deals! Check out his last interview on vox markets podcast if you're not familiar.

[michaelwhight] 10/1/2019 17:23

Looks like some nerves setting in. Personally I'm looking beyond the next week, I've taken my position and just waiting with anticipation.

[sull75] 10/1/2019 17:12

Strange comment to make when you say you're invested.

[gunsofmarscapone] 10/1/2019 17:06

Although the clock is ticking away to a funding requirement.

[cashandcard] 10/1/2019 16:25

tburns,


Agreed, that's not a huge amount.


Cash

[soulsauce] 10/1/2019 16:20

Looks like tin hat time tomorrow 😕

[tburns] 10/1/2019 15:43

Looks like 3 x 100k sales after 3pm spooked the MM's and using this to drive the price down. If bad news was known there would be a lot more than that being sold imho

[gunsofmarscapone] 10/1/2019 13:15

Spangle , thanks for that. I was under the (false) impression that a downhole lab could provide this data.

[gunsofmarscapone] 10/1/2019 13:07

Tyler

Because I may be wrong mate, of course!

Puzzler, its freedom of speech. This a very expensive well for our company so unless something happens in our remaining portfolio over the next coupls of weeks it looks quite likely that a duster will affect the share price

All I am simply offering is that having essentially ‘punted’ on about twenty of these wells significant experience has been gathered. If I’m wrong it doesn’t matter as you have to use one system or another to calculate positions.

I do apologise if you feel offended, the CEO of Baron Oil describes their two consecutive wells as “offering the shareholders two throws of the dice”, or words to that effect.

[soulsauce] 10/1/2019 13:07

Cheers Spangle clears that up nicely.

[spangle93] 10/1/2019 12:58

GoM, Souls - you can't get permeability solely from logs. You either need core to do lab tests, or to do a flow test over each interval individually, or ideally both. From the EIS, they plan neither.

My interpretation of actions is that they'd drill the first well (this one) as cheaply as possible, to get a yes/no answer for the zones of interest. Why spend money on renting core or test equipment in advance, if it turns out there's nothing there?

After that, they'll have a suite of logs, and a very good analogue in the next postcode called Lybster, from which they can make reasonably confident assumptions about flow rate, i.e. they'd get the critical relationship between Wick log and wick potential flow rate from Lybster log versus actual flowrate.

In the case of any success, if any big question marks remain over a possible commmercial development, then they'd consider an appraisal to address that uncertainty. The appraisal well would then include core and test.

But it's a balance, because the cost and time of a more expensive appraisal well eats into NPV.

[michaelwhight] 10/1/2019 12:39

That sticker was affixed to my wife's car lol! Not long to wait now folks.

[puzzler2] 10/1/2019 11:55

Read what I said GoM. I didn't state that as a fact - I said that some had said... This board used to be a forum for non-confrontational discussion before you turned up.