Upland Resources Share Discussion Threads

[cashandcard] 15/5/2018 07:54

thejaba,


As we get closer to drilling, definitely.



Cash

[thejaba] 15/5/2018 07:53

CandC
I think we will see regular updates by Corallian on Wick, and therefore by UPL too.

[cashandcard] 15/5/2018 07:48

I remember an interview (I think it was RBD management) where they talked about follow on potential if Wick is successful. H2 is going to be active and I look forward to it as I'm invested in both project partners.



Cash

[cashandcard] 15/5/2018 07:44

Reabold Resources Plc

("Reabold" or "the Company")

Update on Colter and Wick Projects

Reabold Resources is delighted to announce that Corallian Energy has entered into a letter of intent (LOI) with UK based drilling contractor Ensco U.K. Ltd for the provision of a jack-up drilling unit to drill its Colter and Wick wells. Within the LOI the parties have agreed, subject to approvals and consents, headline terms for a suitable unit to conduct drilling operations in Q3/4 2018.

Sachin Oza, Co-CEO of Reabold Resources, commented:

"We are extremely pleased with the progress made within the Corallian portfolio since we cornerstoned its fundraise last year. The Colter and Wick prospects have both attracted farm-ins on attractive commercial terms and we look forward to the drilling of both of these transformational wells in the next few months."

Since Reabold's initial investment in Corallian Energy Limited ("Corallian"), becoming its cornerstone investor last November, substantial progress has been achieved within the portfolio of UK nearshore licenses:

- Nov 2017: Upland Resources and Corfe Energy farm into the Wick prospect, resulting in Corallian's interest being partially carried for the initial exploration well

- Jan 2018: United Oil & Gas farms into the Colter prospect, paying a cash equivalent to 13.33% to earn a 10% interest

- Feb 2018: Baron Oil acquired a part of Corfe Energy's position in Wick agreeing to pay 20% of the well costs to earn a 15% interest in the licence
- March 2018: Baron Oil farms into the Colter prospect, paying 6.67% to earn a 5% interest

- March 2018: Corallian completes further fundraise at premium valuation to Reabold's initial investment

This leaves Corallian fully funded to drill Colter, with an estimated 30 mmbbls gross recoverable resources*, at a 51.67% equity interest, and Wick, with an estimated 23 mmbbls gross recoverable resources*, at a 40% interest.

In addition, the Oulton appraisal project continues to be progressed with a CPR underway, potentially providing an additional and compelling third leg to Corallian's portfolio of UK assets.

This value-enhancing activity within the Corallian portfolio following the Company's intital investment validates Reabold's corporate strategy of providing capital to unlock undervalued pre-cash flow assets.

Stephen Williams, Co-CEO of Reabold Resources, commented:

"With the industry having been capital constrained for several years, we see an abundance of high impact projects available to Reabold. Furthermore, with commodity prices rising and costs still very low following the oil industy downturn, project economics are increasingly compelling. There is a rare opportunity to deliver outsized returns when capital is applied to the right projects over the coming months".

*Corallian management estimate of mean recoverable resource

[euclid5] 15/5/2018 06:20

Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to note the announcement made earlier today by Corallian Energy Limited ("Corallian Energy"), as operator of UK Seaward Production Licence P2235 (UKCS Block 11/24b), that it has entered into a letter of intent ("LOI") for the provision of a jack-up rig to drill the Wick well.



Corallian Energy's announcement stated:



"Corallian Energy has entered into a letter of intent (LOI) with UK based drilling contractor Ensco U.K. Ltd for the provision of a jack-up drilling unit to drill its Colter and Wick wells. Within the LOI the parties have agreed, subject to approvals and consents, headline terms for a suitable unit to conduct drilling operations in Q3/4 2018."



Background to Upland's interest in the Wick prospect



In November 2017, the Company's wholly-owned subsidiary, Upland Resources (UK Onshore) Limited entered into a conditional agreement with Corallian Energy to farm in to a 40% interest in Licence P2235, containing the Wick prospect.



The Company estimates that the Wick structure, which lies principally in the licensed area of Licence P2235, could hold in-place P50 resources of around 250 MMbbl. The Wick well, with targets within the Wick structure, is scheduled to commence drilling in the third quarter of 2018.



Ensco U.K. Limited



Ensco U.K. Ltd, a subsidiary of Ensco plc, is a global provider of offshore drilling services to the petroleum industry. The Ensco Group's extensive fleet of 64 offshore units is the world's largest and includes drillships, dynamically-positioned semisubmersibles, moored semisubmersibles and jack-up rigs.



Ensco plc is quoted on the New York Stock Exchange and is headquartered in London, with offices around the world.



Steve Staley, CEO of Upland Resources Limited, said:



"The signature of this LOI with Ensco represents another big step towards commencing drilling the potentially transformative Wick well in Q3 this year. We look forward to working with Ensco and to updating the market on further developments as we enter the critical pathway to drilling of this high impact well on the UKCS."

[yogaboy] 15/5/2018 06:18

Nice reminder that Q3 is only a few weeks away!

[hulltiger] 15/5/2018 06:08

Good morning, from a new investor like myself, that looks like very good news.

[doughty] 15/5/2018 06:08

On track for wick then !

[cudmore] 14/5/2018 08:10

Cheap as chips here.....do the research and see where the true share price should be. 10p just for starters. Tuck away on any dips.

[doughty] 13/5/2018 10:16

Carry on camping !..."Sid Boggle"

[tburns] 13/5/2018 07:32

Name that film:-

Kenneth Williams - "Come on Barbara dear, put your back into it, in out, in out"

[finncairn] 12/5/2018 19:48

If I didn't know how to buy 30k worth of shares I would question if I should be investing in the stock market or start a private pension & let that company do the work for me.

[euclid5] 12/5/2018 17:48

Uploader,

Nobody should be asking on the boards how to buy £30k worth of shares, if they need to they should hire a FA to advice them.

No good blaming others for their actions

They simply call their broker up & give them the order to buy x shares for x price. Can't belive people post here things like that " how do I buy £x worth of shares!!

One poor chap last weekend asked for some advise as to how to purchase £30k worth of shares

[thejaba] 12/5/2018 15:17

gersemi

absolutely top class comedy

Lol @ "remember me" no shes got Alzhieimers.

[sull75] 12/5/2018 13:34

Uplander, Stark is one of the good guys, he's excited about the company nothing wrong with that.

[moormoney] 12/5/2018 12:11

Well it takes all sorts I suppose.. I personally prefer posters contributing to a thread in a positive way and encouraging discussions which stark has done regularly. If you read and don’t post a thread dies so stay posting uploader but don’t criticise others who have a different way of highlighting a good company. Long and strong here!

[thejaba] 12/5/2018 11:57

UploaderWhat's "buy in sheath" Am I missing something.

[thejaba] 12/5/2018 11:56

UploaderStark is not a pumper. The only reason he stated his purchases is because he is honest. Alot if posters say we have bought this and that....stark says it before he does. Stark has not accounted for a 95m trade frenzy, you are completely off the ball if u think that. The frenzy is being created by the rns' and ppl waking up to this co which could be a mammoth.Stark imho is one of the most genuine posters on an anonymity infested advfn.

[uploader] 12/5/2018 06:14

I've been in UPL since IPO I'm well aware this stock doesn't need to be pumped. I've followed and read this board since the beginning and haven't ever felt the need to post however since you've come along you've created a frenzy by telling everyone you're buying 1 million, 2 million, 3 million. Have some class man and just buy in sheath mode. One poor chap last weekend asked for some advise as to how to purchase £30k worth of shares and you told him get what you can because you're purchasing another 2 million, from reading this chain that guy is definitely more that 20% down, hopefully he's averaged down.There is no reason to pump this stock and for those thinking of buying, look at the chart and buy on a down day and always scale in. The fundamentals here are solid it's just finding the right price to buy in at.

[stark industries] 11/5/2018 22:40

Ok guys last post here from me

If think I am a pumper you are deluded Uploader
You only joined ADVFN today and this is your only post on ADVFN "says it all really"
I bought a lot of stock above 4p

Anyway think i'm done with ADVFN forever.

Good luck Argyle, Jaba and the other posters I got to know in my short time on this BB
This stock will do very well and it does not need pumping
I have put my money where my mouth is and I will see this through until minimum of 20p

Wishing you all a great weekend ahead :)

[uploader] 11/5/2018 22:32

Stark is a pump merchant, the only reason he has to tell everyone when he's buying is to create a frenzy of buying among others as demonstrated at the beginning of the week. Sadly a few got pulled into the madness and now find themselves 20% down. Luckily for them UPL is aFantastic company so it'll be back up in no time but if I were asking for advise I wouldn't listen to Stark, Donny big balls! Keep up the pumping Stark! Great work!