Upland Resources Share Discussion Threads

[stockhunters] 17/5/2024 07:38

"I agree this will now rocket upon admission to market."

rampy rns for years is no one getting suspicious?

[jungmana] 16/5/2024 21:44

Oil and gas majors? I like the sound of that"While the Company awaits the PSC award Upland also confirms that it is now in discussions/negotiations with five established E&P companies, including Oil & Gas Majors to participate in the Exploration and Production of Block SK334."

[1sharewithme] 16/5/2024 20:10

Give it a restEither tomorrow or Monday relistef

[1sharewithme] 16/5/2024 20:07

I can't wait for suspension to be lifted.I agree this will now rocket upon admission to market.Bentley soon to be ordered lol

[argyle underclap] 16/5/2024 19:16

I will consider a buy IF they get the formal award. Don’t mind paying higher as = less risk

[hoper1] 16/5/2024 17:26

Just what I thought!

[stockhunters] 16/5/2024 16:29

finalize application?

application?

[henrymcivor1] 16/5/2024 14:54

Hard to believe folk here still think we have a NOMAD.

[simon8] 16/5/2024 14:34

Afraid I am not counting my chickens... I will be a lot happier when the PSC is signed.

[haggismchaggis] 16/5/2024 14:30

Someone has no idea how business is done out there LOL!
.
The PSC is ours, all they are doing is agreeing final terms.
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No Oil Major can take it from us, that's not how it works.
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The operative word is FINALISE!!
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"Discussions have been to FINALISE Upland's application for a Petroleum Sharing Contract"
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When the suspension is lifted, this is going to rocket!

[spangle93] 16/5/2024 14:30

Tantalisingly close, but still unsigned,
...
and not yet restored to trading

[simon8] 16/5/2024 14:25

Indeed more talk, good but what we want is the signature on the PSC, all else will then fall into place, until then talk is talk. All crossed the PSC comes quickly now.

If we have O&G majors interested what is the risk we get trumped for the PSC and one of those major does a separate deal for it?

Get the PSC signed to firm up the business please.

[ashleyjv] 16/5/2024 14:12

16th May 2024



UPLAND RESOURCES LIMITED

("Upland" or the "Company")



PSC, Joint Venture & LOI's Update





Following the meeting with key heads of Sarawak State in London on April 23rd Upland is pleased to confirm that a number of meetings have been held in Kuching throughout the week commencing May 13th with key officials of Sarawak State and with Petros. Discussions have been to finalise Upland's application for a Petroleum Sharing Contract (PSC).

While the Company awaits the PSC award Upland also confirms that it is now in discussions/negotiations with five established E&P companies, including Oil & Gas Majors to participate in the Exploration and Production of Block SK334.

Upland has signed two Letters of Intent on potential Joint Venture, Farm-In Agreements, with discussions progressing to Exploration Strategy & Field Development Planning (FDP), with one party, including progression into investment appraisal and campaign planning review.

At this stage it would be prejudicial to our negotiations to name the interested parties. The Upland Financial & Investment Committee, announced on Jan 22nd 2024, is actively determining which of the current options will provide the best shareholder value.

Bolhassan Di, Upland Chairman and CEO commented:

"As we would expect the potential of SK334 is attracting a lot of attention and we already have some very serious alternatives to consider. We do expect there to be a lot more interest and as a Company we will make sure that the options we choose move us ahead but also are in the long-term interests of all our stakeholders."

[argyle underclap] 16/5/2024 10:52

gramarhhhh!

nice work spangles

[jungmana] 16/5/2024 10:37

When are we back trading then? I see waiting for fca .O/ t HEX worth a good look if anyone fancies helium investment.

[spangle93] 16/5/2024 09:16

Direct link to annual report



Still waiting
"The JTS was completed on 26 November 2023. On 24 September 2023 our associate Upland Big Oil Sdn Bhd (UBO) commenced discussions with PETROS about the award of a Production Sharing Contact. Discussions are ongoing"Directors Renumeration

One more grammatical moan ...
"Directors Renumeration" - Double Ouch.

[spangle93] 16/5/2024 09:11

I guess if they are getting into drilling wells, and hopefully even starting production, there will be more need for a competent CCO then in the years when they didn't have 2 ha'pennies to rub together.

From the annual report
". Since we anticipate significant growth and to broaden our range of required experience, post period we have also appointed a Chief Commercial Officer"

"...where it has it's focus"
Shame that Harvard Business School, Cambridge University, and even the NOMAD, don't correct english grammar errors ;-)

From a search on his background, he does appear to be quite a big hitter to join UPL on presumably a full time basis - typically he's been assisting companies as a NED, or advisory consultant.

Fingers crossed the suspension will lift shortly

[michaelwhight] 16/5/2024 07:20

We are delighted that Albert has joined our executive team at this transformational moment. He brings to the team a range of commercial expertise that complements our strong experience in oil and gas exploration and production. We intend to grow the company significantly and it has been a priority for the board to make sure we have the skills and experience in our team to drive that growth."This does suggest that there has been a perceived credibility issue but that they are addressing it.

[simon8] 16/5/2024 07:16

Yup... and a new BoD member to pay ;-)

Let's hope he gets the PSC signed as his first priority!

[siggs44] 16/5/2024 07:07

Back in business

[simon8] 15/5/2024 07:45

You have to wonder whether Littlejohn auditors are competent, Uplands affairs are not that complicated you'd of thought, they are not a multinational with dozens of companies to consolidate... this should be a straightforward exercise unless there is something we are not being told. The accounts should be signed off by now. Perhaps the Board need to go out to tender for new auditors once this is all resolved.

Still no PSC signing either... dragging on too long.

[spangle93] 10/5/2024 08:24

And another week drifts by without a signed PSC

Thought it would have been in hand by the end of April

[stockhunters] 07/5/2024 10:09

amateur hour from UPL something so basic