Upland Resources Share Discussion Threads

[spangle93] 22/5/2024 08:22

Simon8 - absolutely

Likewise it would be meaningless to produce a CPR until/unless the PSC is signed.

Although under a PSC, UPL (or Upland BigOil if the joint company remains in place for the next phase) is a contractor to the state and therefore doesn't technically have hydrocarbon reserves in the way that companies operating in the North Sea or USA do.

[simon8] 22/5/2024 07:29

I assume under market rules unless there is an overriding reason to maintain the suspension they were duty bound to have it lifted - the accounts were signed and the late accounts was the trigger for the suspension.

On the impending deals - cart before horse, there can't be a deal as they don't have the PSC yet, a deal will only come after the PSC is signed... next news has to be the PSC signature, all else will then fall into place.

The PSC is taking an inordinate long time...clearly things take their own pace and they can't force that, it is ultimately what makes or breaks the company, until it is signed there will be a real uncertainty and volatility to the share price and prospect of the company.

[allesandro] 22/5/2024 07:13

Interesting post over on L.S.E - yes i wonder why they choose now to lift own suspension,the ceo has mentioned many interesting offers received so does make you wonder if they have some juicy deal to be announced shortly.




Hubstar - 21 May 2024 21:56


"Interesting timing for lifting of suspension, i would say they would only have done this if they were confident of announcing that new partner or indeed partner,s . The assets are very good and there has been very strong interest from partners and investors. Has great near term and long term potential this one IMO.

This should not be down at these levels so there is currently a huge buying opportunity here."

[simon8] 21/5/2024 13:57

Still a very good case for this company, it's been suspended for a while so I was expecting a retreat on day back, what we need is real tangible news and that is in effect the signature to the PSC, these operational updates they keep giving out are just hot air until the PSC is signed.
There does appear to be a modus operandi of the company to issue a fluffy operational update post an "issue" that may have a negative impact - the Monday morning update after the Friday after hours placing announcement, today's fluff on the tail of the resumption to share trading.
Please can the BoD put it's energies into drafting an RNS update that says we can confirm we have today signed the PSC.....!!!

[stockhunters] 21/5/2024 13:44

psc this week honest or was that last week? cannot make it up

[lookinggood] 21/5/2024 09:36

Total collpae

[blakesmith] 21/5/2024 09:02

No MORE BUYers

[blakesmith] 21/5/2024 08:54

Yes I do massive short from 4p

[blakesmith] 21/5/2024 08:53

See will see fish man

[ashleyjv] 21/5/2024 08:43

Ha ha Blakesmith, I hope you have a massive short. You deserve what's coming your way

[blakesmith] 21/5/2024 08:22

This is worse than I thought

[blakesmith] 21/5/2024 08:06

Nasty drop coming and into the 2s

[blakesmith] 21/5/2024 07:49

Increased short here

[blakesmith] 21/5/2024 07:37

Time to short this crp

[blakesmith] 21/5/2024 07:31

There is no jv

[neo26] 21/5/2024 07:27

How much does a well cost to drill?

[jungmana] 21/5/2024 07:25

The idiot whose profile was created just last week has turned up here. I have him on filter..Hopefully the PSC lands very soon together with the JV conclusion