Upland Resources Share Discussion Threads

[nlmbidc] 20/1/2021 10:13

Clearly the gas is showing on the seismic data, most likely beneath Bou dabous. The question is how much gas and whether its trapped and sealed.

The new seismic will indicate how much gas later this year. Could be multiple TCF.

If it is, a JV could be on the cards.

[baggins100] 20/1/2021 09:55

Good rns, extension of the licence will help bring in a JV partner."Publication of results in the near term" More news coming....

[nlmbidc] 20/1/2021 09:40

It's gas soulsauce....

[soulsauce] 20/1/2021 09:26

You haven't answered my question tyler, you say this isn't a duster like Wick and then you say Wick only had a 36% COS.
So how are you so certain about Saouaf and what is the COS?

[tyler90] 20/1/2021 09:22

Get the frustration but I honestly think this is a good RNS

[tyler90] 20/1/2021 09:02

There was only a 36%CoS on WickMy opinion, but this is good news. Brings some certainty and also reinforces what was being suggested with regards to the resource. Clears the path for a JV

[spangle93] 20/1/2021 09:00

IN April 2019 they said
"In addition, ETAP has asked Upland to look at farming-in to specific, producing Tunisian oil fields where our expertise and access to funds will be of mutual benefit. A number of additional producing fields in Tunisia and elsewhere are also being assessed as candidates for a potential farm-in which would provide Upland with an ongoing revenue stream. These fields are mainly oil producers, at various stages of field life and most of which could provide Upland with net production rates in excess of 100 bbl/day."

In July 2019, they said
UPL is "pleased to announce the formal signing of the permit documents for the exclusive Saouaf hydrocarbon exploration and appraisal licence. The signature of the permit documents allows Upland to actively market participation in the Saouaf Licence to potential farminees, whereas previously the Company could only receive unsolicited expressions of interest. Such unsolicited expressions of interest have already come from several companies, including major international and national oil & gas companies
and
Field visits have revealed the presence of additional surface oil seeps that indicate a significant oil play may also be possible, in addition to the extensive prospects described [by CPR]


Today
"Half a sec lads, we've nearly finished the report. Anyway, teacher has given us more time to finish our homework. But excitingly, we've now found something that we found 18 months ago."


Where is any news of farming this licence out, which, given that they must be running on fumes financially again, is the only chance of getting money into the company without more dilution at low levels.

What happened to those additional Tunisian opportunities - did they vanish with Staley?

[soulsauce] 20/1/2021 08:52

'This is not a duster like Wick', what is that even supposed to mean tyler?

I am sure when they were doing all the interpretations on Wick it didn't look like a duster or they wouldn't have drilled it. In fact Staley was that sure from the interpretations that he set us up to have more %age holding than we should have done.

Nothing is definite or produce-able until the drill bit hits & flow tests are carried out.
Unless you know something different.

[tyler90] 20/1/2021 08:33

Just been tweeted by Upland:"Completion of detailed multidisciplinary interpretation of all vintage data revealing a rich array of new plays & material prospectivityTechnical results to be published in near term"This is not a duster like Wick...read between the lines

[tyler90] 20/1/2021 08:11

The 'extension' is not as bad as it sounds. It can be used as leverage to get the potential partners to get into a JV asap. I think the results are what Roberto was hoping for so they are sitting on something big/large/huge...whatever you want to call it AIMHO of course

[soulsauce] 20/1/2021 07:17

Is that it? The sum total of what we have waited all these months for? A one year extension and nothing more than they suspected in the zoom meeting. Pathetic.

And this is our highest priority lol.

[nlmbidc] 18/1/2021 13:56

If they can limp on until Sarawak news we should be OK.

[soulsauce] 18/1/2021 12:29

That is with company x. Cash must be getting low again.

[nlmbidc] 18/1/2021 12:23

Thats where company X comes in.....

[soulsauce] 18/1/2021 11:51

And along the lines of, oh and by the way our cash levels are on life support as well.

[tyler90] 18/1/2021 11:48

Even such news will propel the share price from these levels. A third-party putting up cash is a massive sign of confidence and reassurance to the markets. Agree, it can multi-bag on just such news and that is not including IMF, Sarawak or Brunei but getting good news from UPL is like drawing blood from a stone lol!

[baggins100] 18/1/2021 11:25

Easy multibag from these levels nash81

[nlmbidc] 18/1/2021 11:07

I don't think there will be any sub-salt numbers associated with any news from Tunisia.

Possible positive news will be along the lines of;

1) we are encouraged by the recent results from he additional seismic data and we now plan further seismic in Q3.

2) Company X will pay all forward costs for a % of the license.

[soulsauce] 18/1/2021 10:54

It's probably just as likely to land as anything else in the portfolio of none movers 👎

[tyler90] 18/1/2021 10:50

If you know it then you can assume others do, & if that were the case then the share price would not be at this level. I may be wrong and I hope I am wrong but I think you are just hoping too!

[soulsauce] 18/1/2021 10:13

Really, when??

[baggins100] 18/1/2021 10:08

Tunisia news about to land, I wonder what sort of numbers we are looking at for the new sub-salt play!

[nash81] 13/1/2021 23:59

UPL is very off radar. i am going to top up and average down later this week before the crowd start jumping in.

still have EOG and EDR for multibag later this month on Wressle