Upland Resources Share Discussion Threads

[jungmana] 04/3/2018 08:58

hTTps://www.energyvoice.com/oilandgas/north-sea/164681/fraser-well-management-manage-drilling-wick-prospect/

[goodbloke1] 03/3/2018 16:38

Surprised no deals all day Friday yet you could sell a million at 2.22

[argyle underclap] 03/3/2018 16:04

Certainly get the feeling at least one high impact prospect is imminent. As ever no guarantees, but baring any adverse comment from UPL, their message at the mo is that it looks highly likely.

[goodbloke1] 03/3/2018 15:16

Let's hope the high impact deals happen shortly!

[argyle underclap] 03/3/2018 13:29

I don't think Tune bought in for 2.5p.

I'm here for the high impact prospects (other than wick). I think it likely so too are tune.

Holding tight to mine.

[sull75] 02/3/2018 12:52

You can always buy back in now the share price is lower, Jung :))))

[kemche] 02/3/2018 12:32

soul, you cynic!
:)

[soulsauce] 02/3/2018 12:27

Call me cynical Jung but it's amazing you have just worked that out and raised it now after halving your holding ;-)

[sull75] 02/3/2018 12:26

If we do need to raise more money then I'm sure it will be done in the correct manor. Dr Staley hasn't let us down so far and I'm sure he will have that all covered when the time comes.

[jungmana] 02/3/2018 11:46

Halved not halfed . Lol! i better concentrate on the day job :-)

[jungmana] 02/3/2018 11:45

So my point is if we have to set aside about £2.3m for Wick then we have not got much cash left for any other thing. Is the reason i halfed my holding earlier in the week.Lets see how things pan out

[soulsauce] 02/3/2018 11:38

Yes and we did and we have.

[jungmana] 02/3/2018 11:27

Soul - i took a closer look at our finances after the rns of 27th february. Part of the deal with Corrallian stipulates that we must show proof of having sufficient finances to meet our commitment to the wick farm in.. Hence the rns of a few days ago after receiving the Tune cash.

[jungmana] 02/3/2018 11:23

Thats right. Thats about 10% of my whole pot. Unfortunately some of us dont have lots of money :-)

[soulsauce] 02/3/2018 11:23

Jung they may they may not. Who knows how the new assets are going to line up and how they are going to be funded.

We will see in good time no doubt.

[thejaba] 02/3/2018 11:20

Just 300k?

[jungmana] 02/3/2018 11:05

not talking her down. just pointing out the facts and start a discussion. i hold 300k shares here right now

[caters] 02/3/2018 11:03

I think you're trying to talk this down.

[jungmana] 02/3/2018 10:58

i think we may need to raise more money or reduce our wick stake. right now about £2.3m of our £3m cash will be spent on wick;

""Upland UK is likely to hold the largest interest in the P2235 Licence and be the only co-venturer that is part of a listed entity. The Company will pay 53.33% of the first GBP4.2 million of costs related to the environmental survey and the first Wick well; costs above that cap will be funded pro rata to interests in the Licence. The Wick well is currently estimated to have a total dry-hole cost of about GBP4.2 million."

what do folks think?

[jungmana] 28/2/2018 18:35

The 1m is a sell from yesterday

[goodbloke1] 28/2/2018 17:48

Probably delayed sells from a previous day

[kemche] 28/2/2018 17:16

Intriguing late trades

[uen_investor2] 28/2/2018 12:08

Serabi does look crazy cheap (SRB)

Buys coming in strongly. 1 MM left of offer...

-Net assets $64million and most of that made up of plant equipment.
-Strong gold production.
-Big increase in cash pile last results
-Turn to profit
-No value added for the gold rise
-Big scope for growth, new drilling to lead to 100k a year production

[euclid5] 28/2/2018 11:56

How will Corallian pay for Wick?

Wick is fully-funded at a 25% Corallian interest by a carry on the well from Upland Resources and Corfe Energy. Following the recently announced Corallian fundraise, Corallian will be funded to exercise an option to drill Wick at a higher, 40%, working interest. Corallian will be fully funded to drill Wick at 40%.

hxxps://reabold.com/investor-relations/faqs/