Upland Resources Share Discussion Threads

[jungmana] 28/5/2024 12:14

I sold my small 400k shares today at roughly 30% profit and added to my HEX.
good luck folks hopefully the psc and a good jv lands for you soon.
I have been waiting for that since last October .

[henrymcivor1] 28/5/2024 09:59

One guy sticks £2m in. Another tries to talk it down. Levels

[michaelwhight] 28/5/2024 07:28

Does this mean that they are announcing this just before a closed period? In which case PSC would be 30 calendar days away. Or am I getting this wrong?

[stockhunters] 28/5/2024 07:27

psc? nope more placing shares

[soulsauce] 28/5/2024 06:42

Yep can't see them wanting in unless the PSC was forthcoming.

[henrymcivor1] 28/5/2024 06:19

https://www.investegate.co.uk/announcement/rns/upland-resources-limited-npv--upl/strategic-investor-share-purchases/8224098..That's great news IMO. These guys know...

[1sharewithme] 24/5/2024 12:01

So when this comes to fruition where do you see the sp?

[seagreen] 24/5/2024 11:41

Well worth listning to Zengas in my 20 odd years on ADVFN.
All imho
thank you for your informative post.
(No position currently just peeping)

[zengas] 24/5/2024 11:04

Re the PSC.

LBEs 2A block offshore Sarawak was mentioned here not so long ago but was told to take it elswhere as im sure i will be but consider this in context as SK334 is clearly in close proximity to numerous fields not just the 2 or so mentioned by them so interest should and must be high .

"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."

"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."

--------------------------

Why doesn't UPL have the PSC in the bag before discussions/alternatives with O&G Majors who could quite frankly throw much more firepower to the Sarawak Govt in undermining UPLs negotiation terms outcome.

LBE were awarded 'operatorship' of the 12,000 km2 Block 2A of Sarawak with 36.75%. Topaz 15.75%. Petronas 40% and Petros 7.5%. 1.5 Billion BOE estimated recoverable in the first of a multiple of prospects with over 6,000 km2 of 3D.

LBE upped that to 52.5% by buying Topaz 15.75% share for up to $3.25m.

There are a number of majors interested in 2A also but the PSC terms are there with substantial 3D, the amount of drilling and processing of seismic required in each term of the PSC.

So far UPL have about $3.4m - it's not enough to see out whatever those PSC terms when issued which is likely to include a number of wells and a fair chunk of new seismic both 2D/3D - not just a case of drilling a well and why as above UPL say 'long term interests' for shareholders.

With so little capital the negotiating power could lie more so with any farminee.

For SK334 Petros could likely be on a minimum of 20% or possibly 40% allowing for the warning in the adm doc that Petronas may yet have a claim to have a stake in the PSC. (Petronas and Petros have 47.5% of LBEs 2A offshore Sarawak so these might be similar terms that Petros wants for itself on SK334 ??). That could whittle it down to 60% for which a farminee with having to pay a fair share of the costs is going to want a sizeable stake. (LBE are farming down and intimated they could give up 20-30%) If a farminee comes in for a similar amount here that could leave the JV on 30-40% meaning UPLs net amount could be 15-20%. This is my opinon why the PSC isn't awarded yet and strange that they are negotiating with other oil Cos and majors when it hasn't been officially awarded to UPL as yet while LBEs block 2A was done prior to any farmout activity.

[michaelwhight] 23/5/2024 16:15

I've been in since 0.27. Not a problem.

[1sharewithme] 23/5/2024 15:26

26% down in a month ffs

[michaelwhight] 23/5/2024 12:15

We're all here for the risk/reward ratio.

[1sharewithme] 23/5/2024 09:47

First time doesn't mean it can't happen.All the hype yet no proof of anything,only pictures of meetings Am begining to doubt big time,I hope I am wrong

[michaelwhight] 23/5/2024 09:24

No but it will be the first time that they have missed a target.

[1sharewithme] 23/5/2024 07:59

So are you saying if not signed within 5 weeks it isn't going to happen?

[michaelwhight] 23/5/2024 06:51

The timeline for PSC expires in approximately 5 weeks according to the latest report. There's no reason to expect it right now.

[1sharewithme] 23/5/2024 06:27

No rns Promises ,hints smoke and mirrorsJust when will this come good ffsIs there even a psc or jv I bloody hope so !Begining to smell a rat.

[allesandro] 22/5/2024 15:00

1_dma

Correct about the opportunity,have a feeling this is a coiled spring at moment with that key news about to land.I would expect an easy move to 5p+ very fast then make progress from there.

[stockhunters] 22/5/2024 11:52

maybe they keep delaying any type of real news because they know the details will make this story all come crumbling down i.e they do not own the licence

[1_dma] 22/5/2024 11:27

Nice opportunity here ! with PSC and JV could move to 7p+ imvho

[allesandro] 22/5/2024 10:24

There are first signs this may have a nice tick up this afternoon,looking like some mates rates large buys being arranged at moment.

Expecting some very decent RNS in next few sessions

[1sharewithme] 22/5/2024 10:16

Psc ,jv obviously imminent Hardly a surprise lol

[sammy g] 22/5/2024 09:03

Not many shares under 3.15p all of a sudden - RNS on way in ref JV ?

[sammy g] 22/5/2024 08:43

Potential for a nice breakout here today IMO

JV in the bag im hearing