Upland Resources Share Discussion Threads

[argyle underclap] 08/3/2018 07:41

Euclid - 'subject to a 6month lock in and can't be sold or traded'

That's the way to do it. Absolutely Great stuff.

[jungmana] 08/3/2018 07:38

Soul, sold half and then 3 days later the remainder . Invested the money into i3e and rbd as i said.I knew some form of funding was needed soon as about £2.3m of the £3m must be reserved for wick. Todays news looks good and imo is better than what i feared, a large hugely discounted placing. I may buy back in but in no rush yet.

[soulsauce] 08/3/2018 07:35

'Expect to become increasingly active over the coming months'

Happy days.

[soulsauce] 08/3/2018 07:28

Agree Zengas excellent news and Tune getting involved again what does that suggest. As I have said before Tune aren't in to risk money on Wick.

Sull when Jung said he had sold half he had actually sold the lot he reckons at 2.5p.

[kemche] 08/3/2018 07:28

Agreed Zen. Especially with regard to your recent postings.

[kemche] 08/3/2018 07:26

This is how CLN should be structured - not with some dodgy outfit, no death spiralling, but with connected parties already having substantial holdings already. They would have more of a clue than all of us as to what is in the offing!

[zengas] 08/3/2018 07:22

Excellent news. We have to be nearing a major deal soon.

£3m existing cash and £3.5m in loan funding means a very significant $9m of available cash.

Share of cost for Wick is £2.24m/$3m (dry hole) but not until later in the year.
If it's not a dry hole, then if a success no one will mind another $1-$2m spend given it's a $200m+ potential net target.

Funded by the 3 main shareholders - Tune, the Chairman and our Ned (Ned is Optiva).
Free float is going to be as tight as ever !

[euclid5] 08/3/2018 07:21

Upland shares issued in repayment of the Loan Notes are subject to a six-month lock in period, during which time they may not be sold or traded.

[thejaba] 08/3/2018 07:20

So an interest free loan of £3.5m is bad. Dear me where do Dome people come from.

[snickerdog] 08/3/2018 07:19

Jagzoil, this is the opposite it's not some dodgy complex thing just a simple deal they can draw down on and shares issued to Tony F, the Chairman and others who are aligned to making this work

[thejaba] 08/3/2018 07:11

They've negotiated a 3.5m loan with no interest. That is really good news. Normally loans notes are prohibitive in terms of interest....but Dr Staley is proving a shrewd negotiator.

[goodbloke1] 08/3/2018 07:07

Just seen it sorry

[sull75] 08/3/2018 07:07

This will be a useful facility over the coming weeks and months as the Company expects to become increasingly active, principally through its participation in the drilling of the Wick well in Q3 this year; which although fully funded from existing cash resources allows flexibility towards over runs.

[goodbloke1] 08/3/2018 07:06

Hi Sul.Is Loan news just out.Cant See ii on rns

[sull75] 08/3/2018 07:04

Fantastic news! 3.5 million interest free loan! Jung, I hope that puts your mind at ease with regards funding!

[zengas] 07/3/2018 23:09

This 3 day event to initiate business 'Sarawak Dialogue' last week Feb 26th had the Chief Minister of Sarawak opening address immediately followed by Tony Fernandes.




KUCHING: More than 200 local and international delegates will be flying into the state’s capital for the inaugural Sarawak Dialogue, which will be held from February 26 to 28.

The three-day event, themed as “Sarawak, The Bridge to New Beginnings”, is organised by the state government with the objective to attract partnerships and investors from various industries, including digital economy, tourism, education, and health.

Some of the speakers will include AirAsia group chief executive officer Tan Sri Tony Fernandes; Stanley Yang and Khailee Ng from USA’s Silicon Valley; MATRADE CEO Dr Mod Shahreen Zainooreen Madros; Ukrainian ambassador to Malaysia Olexander Nechytaylo; Chief Advisor for Digital Economy of Sarawak Prof Jugdutt Singh; and Tan Chee Peng of Business Technovise International Singapore.

“We want people to share their business journey garnered over the years, discuss both opportunities and constraints, help to address immediate and existing needs that will eventually help formulate new project partnerships for the state and potential investors,”

Apart from that, the dialogue, which will be held at Riverside Majestic Hotel, will also act as a platform for delegates to pursue discussions and partnerships of possible win-win business ventures.

[thejaba] 07/3/2018 22:30

Looks to me like the cats well and truly out of the bag...did you know it was the chief minister that announced PETROS, the same chief minister that is in the UPL twitter pic at the meeting with UPL last May in a London.To me it's a done deal re Malaysia, once out in an RNS, watch the herd come to upl.

[zengas] 07/3/2018 22:18

The December presentation said discussions were well advanced in Malaysia and strong positive near term newsflow potential.

Page 12 (Malaysia)
Relationships with Petronas & in Sarawak
Excellent local contacts and unique access to opportunities
Politically stable
Discussions well advanced

Page 14 (Future)
Strong, positive near-term news flow potential:
Progress on high potential opportunities in Malaysia/North Africa

[yogaboy] 07/3/2018 20:55

Note that Upland tweeted that photo last May, so this has been some considerable time in the planning.




I started buying UPL at the end of 2016, expecting 2017 to be the exciting year. Looks like it's going to be 2018, but no complaints here.

[soulsauce] 07/3/2018 17:56

Great to have you here Zengas. Excellent information and deduction, all falling in to place hopefully.

[thejaba] 07/3/2018 17:56

I sense a bit of excitement in your posts Zengas. This really could be an amazing 9 remaining months if this year.

[zengas] 07/3/2018 17:33

Another interesting development and the timing of this investment/cornerstone investor.

Tune invest £1m on 31st Jan 2018.

But just pior to that investment by Tune,

Sarawaks new state oil company Petros had already announced a deal barely 2 weeks earlier and surprisingly *ahead* of todays official announcement about having their own absolute powers.

So Tune would have seen this as a green light to invest surely that Sarawak were already doing MOUs. Also UPL would need to convince and demonstrate on any possible asset negotiation (if they are in that process) that it has backing and capital ie a significant Malaysian and cornerstone investor.

"Petros inks first deal January 18, 2018

MUSCAT, Oman: Petroleum Sarawak Berhad (Petros) – Sarawak’s wholly-owned oil and gas company – has signed its first deal.

The company signed a memorandum of understanding (MoU) yesterday in conjunction with Chief Minister Datuk Patinggi Abang Johari Tun Openg’s working visit here.

Petros signed the MoU with Petrotel Energy Oman LLC (PTO), which has exploration and production rights in Oman, and South Sea Energy (SSE), which is affiliated to Sarawak "



Possible that we partner (carry?) with a small indingenous Sarawak oil co as per SSE ?.

[thejaba] 07/3/2018 17:10

I'd guess a break of 3p Tomo

[sull75] 07/3/2018 16:52

Many Thanks Zengas for that information, things are finally looking like they will fall into place.