Upland Resources Share Price (UPL)

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Share Name Share Symbol Market Type Share ISIN Share Description
Upland Resources Limited LSE:UPL London Ordinary Share JE00BJXN4P16 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.75 581,957 07:33:24
Bid Price Offer Price High Price Low Price Open Price
0.70 0.80 0.75 0.75 0.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -4.39 -0.80 5
Last Trade Time Trade Type Trade Size Trade Price Currency
12:35:21 O 75,000 0.7649 GBX
Related Shares
Bp (BP.), Royal Dutch Shell (RDSA), Mosman Oil And Gas (MSMN), Nautilus Marine Services (NAUT)

Upland Resources (UPL) Latest News

Upland Resources News

Date Time Source Headline
08/4/202007:27ALNCFAlliance News Flash Headline
08/4/202007:00UKREGUpland Resources Limited UK Offshore Licence Update
26/3/202011:35ALNCUpland Resources Interim Loss Widens; Happy With Licence Progress
26/3/202007:00UKREGUpland Resources Limited 2019 Interim Results
06/3/202011:37ALNCUpland Resources Raises GBP250,000 Through Subscription
06/3/202007:00UKREGUpland Resources Limited Subscription Announcement and Corporate Update
07/1/202015:40ALNCUpland Resources Names Interim CEO As Permanent; Launches Saouaf Study
07/1/202015:10UKREGUpland Resources Limited Corporate Update
23/12/201912:52UKREGUpland Resources Limited Holding(s) in Company
10/12/201915:23UKREGUpland Resources Limited Result of AGM
More Upland Resources News
Upland Resources Takeover Rumours

Upland Resources (UPL) Discussions and Chat

Upland Resources Forums and Chat

Date Time Title Posts
08/4/202017:00Upland Resources 9,319
05/11/201811:11UPL & BOIL, Wick and Sarawak Twins?3
13/6/201808:50Where's that admission doc and CPR?-
22/11/201218:06Upper limits for share prices6

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Upland Resources (UPL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
11:35:230.7675,000573.68O
11:05:510.7650,000382.45O
10:05:180.77260,5761,996.01O
09:52:360.76196,3811,492.50O
2020-04-08 12:41:500.7030,382213.28O
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Upland Resources (UPL) Top Chat Posts

DateSubject
09/4/2020
09:20		Upland Resources Daily Update: Upland Resources Limited is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker UPL. The last closing price for Upland Resources was 0.75p.
Upland Resources Limited has a 4 week average price of 0.43p and a 12 week average price of 0.43p.
The 1 year high share price is 2.25p while the 1 year low share price is currently 0.43p.
There are currently 619,625,992 shares in issue and the average daily traded volume is 3,300,180 shares. The market capitalisation of Upland Resources Limited is £4,647,194.94.
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06/3/2020
07:33		soulsauce: Can we believe any of that speech CP made at the start of his reign? We won't raise until we have grown the share price significantly - lol. And the rest reads much like before.
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20/2/2020
10:19		tyler90: Yep! short of stock but mm's still apprehensive that a seller may be still lurking in the background to offload if bid goes up. Any bit of +ve news or a sustained spell of buying pressure and they will lose any 'control' over the share price. This is beginning to feel like a coiled spring...could fly past the gap at just over 3p and even previous highs of 4 something. All IMO & DYOR
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04/2/2020
03:53		seroxat: So at the moment what part of the share price should we talk positively about? I'm sure CP's doing a sterling job flying here there and everywhere cutting deals and raising cash and I'm prepared to give him a bit longer to justify his seatbelt statement but let's not kid ourselves that the share price performance is anything other than dire.
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27/1/2020
17:43		thejaba: Throwing Have u never asked yourself that since the twitter private group started the price has gone from 4.4p to 1.3pThat the group insists that there is no selling whatsoeverThat even with the group buying in oodles the share price retracesEvery day the share price goes down....we hear the chorus of "MMs need stock"That since Amnesic decided to invest three days a week marking up every trade and collating everyone's holdings that everyone's sat on huge losses.That Sasha used to say SS is very very busy and doing good stuff, and now we hear CP is very very busy. That CP himself said it will be a seatbelts ride on, and we all heard it, and now Amnesic said we all heard wrong etcYou lot aren't kids, you are grown adults hanging on the whim of other holders instead of holding the company to account.My gripe isn't with the company it's with those holders on a private group that are manipulating the share price in the interimThe price will so what it does in the meantime, but sometimes objectively look at the positives and the negatives, and ask yourself....what exactly has the private twitter group with Sasha and Amnesic leading it actually done for the SP
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19/1/2020
19:03		soulsauce: I am not sure about that Sull as Clns have often caused as much, if not more, damage to shareholders as dilution. Whatever happens he has a tough task to increase the share price unless he manages to drop some stunning news. Will this week bring a glimmer of hope? Recent trade volume would suggest not.
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21/11/2019
11:34		nlmbidc: We all get to make our own mind up about whether to stick or twist. But why would anyone hold and then talk negatively on these boards or on twitter about the prospects of the company. It is not a way to get others to buy in. If you believe the share price will eventually rise, why bother knocking it every time it goes down. Am I disappointed that the share price has gone down? of course I am. Am I bothered? yes I am a bit. Do I believe the share price will rise considerably on farm-out news on SAOUAF? of course I do. Will it rise on news from SE Asia or from Sarawak? Yes it will. Have you got nothing better to do than gripe on a down-turn when you know the potential? There are always choices and knocking your own is about as daft as it gets.
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01/11/2019
10:49		soulsauce: No nlmbidc I put my money and faith in UPL and Dr.S and now well underwater due to the failed well and lack of any tangible news on other projects even though such was promised more than once in certain podcasts. Now here we are with the share price at a year low, Dr.S out the door (almost definitely given a gentle push in the back by the big shareholders, may be even a heave-ho) and replaced by a stand in who promised a seat belts on ride which doesn't seem to be replicated in the words today. So I continue to hold in the hope that the new bloke follows through and I get back in the black. I certainly don't have the faith I had in this and given the selling volume of late I am not alone in that. I do admire your faith though however wrong you have been over the last year, even as recent as the last few days expecting news ahead of the AR.
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07/10/2019
12:04		tyler90: How many has he got rid off or will one of the cornerstone investors take them off him to prevent a further plunge in the share price and to reassure the market?So many questionsThe market does not like uncertainty and although I picked some up this morning, unless the board act swiftly we could see a further suppression of the share price and more importantly with this going on, are the board focusing on the business itself?
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27/6/2018
14:35		argyle underclap: Note well. From the 13 April 2018 RNS... “Upland Resources Limited is pleased to announce that it has entered into a Memorandum of Understanding (the "MOU") with Brooke Dockyard and Engineering Works Corporation ("Brooke"), a Sarawak State entity, to jointly assess, explore for and develop hydrocarbon assets within the State of Sarawak, Malaysia. The Upland Board believes that considerable potential exists in Sarawak for further discoveries and for the reappraisal of existing fields.” UPL and Brooke are not looking for small potatoes. No new challenge as of writing has been made by Petronas. New licences to be dished out by Petros from 1st July 2018. So, anytime from next Monday. UPL and Brooke likely to be included. Capped at £18M, the impact on the UPL share price would likely be significant.
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08/5/2018
01:02		stark industries: hxxp://www.valuethemarkets.com/index.php/2018/05/03/wick-true-game-changer-firm-size-upland-resources-ceo-staley-talks-next-stages-companys-global-development-upl/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork ‘Wick could be a true game-changer for a firm of our size’: Upland Resources CEO Staley talks next stages in company’s global development (UPL) by ValueTheMarkets • May 3, 2018 Last November saw Upland Resources (LSE:UPL) enter phase two of its business plan with a 40pc farm-in to UK offshore permit P2235 including the Wick prospect, which is thought to hold hundreds of millions of barrels of oil. This marked the beginning of the oil and gas explorer’s move away from focusing solely on low-risk assets nearing production to also investing in higher-risk assets that could have company-changing potential. The market has so far responded well to this switch in approach. Since the Wick investment, Upland’s shares have nearly tripled in value to 3.3p thanks to a hefty £1m cornerstone investment and the announcement of major progress in the firm’s focus area of Malaysia. With a well planned at Wick and plenty of newsflow imminent, ValueTheMarkets.com spoke to Upland’s CEO Steve Staley about the firm’s future and the importance of a diversified approach. Opportunities at home Wick is part of the UK Seaward Production Licence P2235, where Upland (subject to final Oil & Gas Authority approval) owns a 40pc stake and is partnered with operator Corallian Energy. Based offshore North-East Scotland, the total Wick structure is estimated to hold in-place P50 resources of around 250MMbbl. Upland also believes additional, attractive opportunities lie in the permit area. Although Wick is at the higher-risk end of Upland’s portfolio, it has already been de-risked somewhat by 3D-seismic and the presence of several nearby discoveries. Upland, Corallian and partners will drill a well at Wick in Q3 this year in 35m-deep water using a jack-up rig for a total estimated cost of around £4.2m. Upland’s share of the costs – which at 53pc come in at c.£2.2m – are fully-funded, and Staley believes a positive outcome could be genuinely game-changing: ‘Wick will be drilled in very shallow water, which is cheaper than drilling an offshore well in deep water and also avoids many of the onshore planning delays common to onshore UK wells. When you combine these low costs with the fact we could have a 40pc share of a very large resource, Wick could be a true game-changer for a firm of our size.’ Upland also owns a 25pc stake in licence PEDL 299 in the UK, which contains a low-risk, low-cost conventional field rejuvenation project called Hardstoft. Based in the East Midlands, Hardstoft was Britain’s first oil field and was last drilled in 1925. Oil production continued for several years from a simple vertical well. Ineos Upstream, which owns 50pc of PEDL 299 and is also its operator, will focus on unearthing the area’s unconventional potential. Meanwhile, Upland, Ineos and fellow 25pc stakeholder Europa Oil & Gas will all focus on realising conventional potential at Hardstoft missed by the earlier, less advanced, drilling techniques. The firms believe the bulk of Hardstoft’s hydrocarbons lie in semi-vertical limestone fractures that old wells were unlikely to uncover. It plans to access these by drilling a directional well once it has acquired the necessary seismic data. Hardstoft has a much smaller estimated resource than Wick at just 6.75MMbbl, made up of 3.1MMbbl contingent resource and 3.65MMbbl prospective. But it also much lower risk due to the earlier production from Hardstoft Oil Field- indeed, it has an 80pc chance of success for contingent resources and 64pc for prospective resources. Due to its low cost of development, the site is also expected to be value accretive at oil prices somewhat below $30/bbl. With a 25pc stake, the total resource net to Upland is an estimated 1.6875MMbbl. This figure is nothing earth-shattering, but Staley believes it could be enough to provide a decent low-risk revenue stream: ‘In general, whether or not we hold an asset until production depends on several factors. If we are lucky enough to make a huge discovery, then it is likely that the capital required to develop it would be well beyond our means, even with project financing, so we would probably sell this project on or at least sell a majority stake. With things like Hardstoft, which is onshore, not very big and cheap to develop, we would probably try and stay with it into production.’ Malaysian potential Last month saw Upland shoot up by more than 11pc after revealing a memorandum of understanding with a state entity called Brooke in Sarawak, one of the four states that make up Malaysia. The partnership – which is the first ever such public/private collaboration with a Sarawakian upstream oil & gas entity – will see the businesses jointly assess, explore for and develop hydrocarbon assets in Malaysia. Upland will offer international experience and technical expertise while Brooke will provide local contacts and knowledge in the oil and gas industry and Sarawakian society. Details on Upland’s progress in Malaysia had previously been thin on the ground. The firm had bolstered its weight in the country with the help of chairman Dato’ Norza Zakaria, political secretary to the Malaysian Minister of Finance from 2004 and 2008. It also brought on board Datuk Haji Bolhassan Bin Haji Di, an elected member of the Sarawak State Legislative Assembly from 1987 to 2011. But last month, Upland said it has been working with Brooke for some time and is well-advanced in its assessment of several upstream oil & gas opportunities. Importantly, the collaboration also comes at a time of political change for Sarawak. The region holds a more significant share of hydrocarbons than any other Malaysian state and has a longer history of oil production. It is looking for more autonomy in recognition of this. Staley said this political backdrop provided an excellent opportunity to team up with Brooke: ‘We are seeing some exciting technical opportunities arising out of the changes in Sarawak and our unique local position in the state, thanks to Brooke’s vast local knowledge. Overall, the beauty of Malaysia is that it is politically stable and there is a lot of oil. Our operations here are very much ongoing, and there is a lot of newsflow to come.’ Diverse approach Upland is also looking for opportunities in North Africa, focusing principally on Morocco and Tunisia. In February, it said it had made substantial progress in the assessment several low and higher risk discoveries and prospects, including a permit with estimated in-place resources of more than 1Tcf gas potential. Importantly, Upland’s North African focus means it will eventually split operations between three critical geographies with very different geological opportunities and political backdrops. From a risk perspective, by spreading itself in this way and focusing on both low and high-risk projects, Upland is partially mitigating any potential risks arising from an individual project or location. In the future, this approach could separate Upland from many fellow AIM resource plays that are severely hit by bad news because they pin all their hopes on just one project or region. Staley told us the company is in the process of creating an ‘optimum size of portfolio’: ‘We don’t want all of our eggs in one basket, but we can’t stretch ourselves over too many projects and geographies. It is nice to have a geographical spread to reduce the geopolitical risk, and three areas is probably about right in my experience. We are putting together an optimum-sized portfolio with a spread of risk across three main areas. We plan to have some assets that are relatively low-risk but offer less reward – like Hardstoft in the UK – alongside larger, potentially higher-risk sites – like Wick in the UK.’ Strong footing Upland also boasts a strong financial position to support its growth strategy. In its results for six months ended 31 December 2017, released in February, the firm reported no debt and cash burn of just £294,815 cash over six months – around £49,000 a month. On the cash side, near-term growth is fully-funded. In January, it received a £1m investment from Tune Assets, run by Tony Fernandes – the Malaysian businessman who bought AirAsia for less than £1 and turned into Asia’s largest low-cost airline. Upon its announcement, Upland’s share rose by 35pc. The cornerstone investment has been combined with the business’s £2m cash balance at the time to fund its obligations at Wick as well as contributing to existing assets, new ventures, and working capital. In the absence of any revenues, the fact that the majority of this cash already has an allocation means Upland is likely to need to raise money at some point to pursue its expansion plans. However, for the time being, it is worth noting that in March the company announced a £3.5m convertible loan facility, giving it the option to draw down sums at short notice to protect against cost over-runs at existing projects. This convertible loan is particularly interesting because of the “death spiral” reputation such facilities have. Convertible loans are often associated with poor share price performance, but in the case of Upland since the loan was announced the company’s shares are up 35%. The facility is provided by Tune Assets, Upland’s chairman Zakaria, and clients of its broker Optiva. It is unsecured, interest-free and can be paid back in any combination of cash and shares (these are locked in for six months), minimising shareholder dilution. To access the facility, Upland paid a £105,000 commission to the facility provider split between £64,000 in cash and £40,000 in shares. Staley told us: ‘The facility gives us a quick solution in the case of cost over-runs on the Wick well – which we do not expect… I was keen to avoid death spiral financing options, so we have established a facility with people who already have skin in the game and do not want our share price to go down.’ Talking of skin in the game, Upland’s directors own 38.3pc of its issued shares, aligning their interests with shareholders. A question of value Upland had net current assets of £2,134,302 at the end of 2017, as reported in its most recent results. With a current market cap of £14.2m, this means the market is giving its assets a future value of c.£12m. At current oil prices of $74.65/bbl, Upland’s 40pc share of Wick’s 250MMbbl estimated resource alone makes this figure look conservative. On the other hand, Upland’s netback per barrel at Wick are currently unknown, and there is always the risk that drilling will not even be successful. Regardless, investors are buying into a lot of potential at Upland’s current 3.3p share price if they take the firm at its word- it has promised to try and deliver a lot across Malaysia and North Africa as well as at Hardstoft. The business also has a good record of success across its management team. Aside from chairman Zakaria having good connections in Malaysia, Staley was a director of highly successful Cove Energy plc, co-founder and managing director of two AIM-listed exploration companies and has 35 years of experience in international oil, gas and power. For what it’s worth, Staley said he believes Upland is undervalued at its current price, although he acknowledges that this is common for firms of its type: ‘I think we are undervalued given the potential we have even just at Wick, let alone our other assets. We are not alone, as the market tends to do that- we have to cope with this and push on. We have plenty of catalysts, we are well financed, and we are in relatively stable regimes.’ Bright future Since listing in 2015, Upland’s lack of debt and low overheads have allowed it to benefit fully from the buyers’ market for oil and gas assets in the wake of the 2014 price crash- something Staley says continues to this day. This dynamic sets the scene nicely for Upland as it prepares to step up in Malaysia and North Africa. With a good chance of Hardstoft delivering a steady future revenue stream and Wick offering the opportunity of something transformational in Q3, Upland’s prospects could be very bright if things work in its favour. Of course, there is a risk with exploration companies that projects will fail and the macro environment will sour. But Upland is at least mitigating this somewhat with it highly-diversified approach to risk and geography and its strong financial grounding. At 3.3p a share, it could soon leap in the face of the right newsflow. Author: Daniel Flynn
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