Upland Resources Share Discussion Threads

[deltalo] 29/7/2024 13:24

It?s going to fly and especially after the AGM when all is clear. Get in and enjoy the ride.

[jungmana] 29/7/2024 13:08

Lol! Had a good drink in Essen

[puphead] 29/7/2024 12:33

Jungmana 12960 of 12979"Yes a 4k punt but took my 12% profit on the very day . The 500  pounds paid for the weekend drinks".Guess the reason you are still here is your 500 pounds didn't last for long, what a muppet, LOL

[jungmana] 29/7/2024 11:24

What's the cash level here? 0.3p I guess.If don't get this licence that's all they can fall back on.I hope ends well for those invested big here.

[showme01] 29/7/2024 09:38

Ask yourself why the recent investment by 2 people of influence at 3.3p?

[neo26] 29/7/2024 09:02

Upl never had the license, what gave the board indications they would get it?

[jungmana] 29/7/2024 06:56

Pwhite , thought a thing or 2 last week here. Say thank you.

[pwhite73] 29/7/2024 06:52

Jungmana - "Yes a 4k punt but took my 12% profit on the very day"

Yeah right success again when everybody else is underwater. Why would you take your profit on the very day? You are so full of it.

[jon389] 29/7/2024 05:06

PETROS - Sarawak's Petroleum CompanyPetroleum Sarawak Berhad - PETROS, is Sarawak's State-owned Oil & Gas Company. An integrated player throughout the oil and natural gas value chain, we are committed to transforming Her hydrocarbon resources into energy and progress for Sarawak and Sarawakians. PETROS was incorporated in July 2017 under the Companies Act 2016 and headquartered in Kuching, Sarawak with a workforce of 40 and growing rapidly to deliver on our value creation strategy and footprint ambitions. Core to the way we build our business - Safety is priority #1, ethical business practices anc sustainable, responsible growth.

[tyler90] 28/7/2024 23:16

It may will be volatile but it is oversold. WDIK though lol!GLA

[jungmana] 28/7/2024 23:12

Imo the reason upl was at GBP 50 million market cap ( ie 3p+) was because the BOD made most investors believe the psc was quaranteed . Now at least everyone is slowly accepting a competitive bid will happen who knows where the share price will go. Could be very volatile. Let's see what story comes out of Tuesdays agm

[tyler90] 28/7/2024 22:42

The answer to your question is yes, since Sarawak State gov. has the constitutional authority to issue exploration and prospecting licences and Mining Leases for petroleum (including natural gas) both onshore and off-shore, within the boundaries of the State.With regards to the bidding, they have an advantage on this block The only matter to resolve is timing and from my understanding, Upland's strategy of drilling exploration wells can be carried out in parallel with further seismic studies so I expect them to win this argumentAIMHO but shorts have had their day in the sun, I reckon the tide is about to turn and the rise could so easily be just as explosive as the drop!

[jungmana] 28/7/2024 22:35

Can Peteos hand a psc without Petronas stamp.of approval? That's my understanding anyway .Good luck and look forward to the news on the competitive bidding

[tyler90] 28/7/2024 22:21

You are incorrect, Sarawak assumed full regulatory authority over the upstream and downstream aspects of the oil and gas industry in the state as part of the devolution of powers from the federal government in 2018 I think. That is how Petros came about.

[jungmana] 28/7/2024 22:14

Yes been tensions between Petronas and Sarawak State authorities ( including Petros) for a while.Petronas is the final authority all things oil and gas. Experts at what they do. I can't see them handing any psc to UPL even if the Sarawak State authorities wish to do so.

[tyler90] 28/7/2024 21:56

There are clearly tensions and it is not just SK334 https://www.nst.com.my/news/nation/2024/07/1082817/sarawak-gives-petronas-3-months-sort-out-gas-distribution-issue-watch

[jungmana] 28/7/2024 21:46

Petros the body responsible for oil and gas in Sarawak State only. But any final decision and award is done by PETRONAS which is responsible for the industry across the whole of Malaysia.

[tyler90] 28/7/2024 21:38

And even if we go by your understanding, it seems unlikely that Upland will be completely dumped at this stage of the process by Petros when they have been working very closely with them in recent months. There is more to this and hopefully it will unfold in the coming week

[tyler90] 28/7/2024 21:33

Petronas???I thought it was Petros!

[jungmana] 28/7/2024 21:31

My understanding is that Petronas through the Malaysian Petroleum Management are the ones who have the final say on any psc and carry out the award.As I said on Wednesday, Miracles do happen.Good luck

[tyler90] 28/7/2024 11:12

SK334 is huge. Upland have done a lot of ground work and so it is also difficult to see them being totally marginalised at this stage too. Don't forget they have put in place a management and governance structure to support the work in the future, with individuals and companies who have close links to Sarawak which is what the state government wanted. Upland themselves have significant major holdings from Sarawak individuals and orgs. All IMHO and I retain faith in the Board and Management. The above is for LTH's; traders will, of course, find opportunities (playing on fear and greed) to make a quick buck and I have no issue with that either. GLA

[richsif] 28/7/2024 09:13

And yet it was the very same Government who brought us into Sarawak. You are trading, we get it. Maybe you will find another entry point to get your drink money for next weekend.

This joint venture follows meetings with, and is at the behest of, the Chief Minister and State Secretary of Sarawak and so enjoys the full backing of the State of Sarawak.

[jungmana] 28/7/2024 09:07

Yes a 4k punt but took my 12% profit on the very day .The 500 pounds paid for the weekend drinks .What's the difference if the message is from Petros or the Sarawak government? Petros is the organ of the government responsible for oil and gas.The BOD here will not win any competitive bid imo for SK334.

[tyler90] 28/7/2024 08:51

You bought some at 1.20 three days ago didn't you?

[jungmana] 28/7/2024 08:42

I think folks clinging onto straws there.