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UPL Upland Resources Limited

3.40
0.00 (0.00%)
27 Feb 2024 - Closed
Delayed by 15 minutes
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 0.00% 3.40 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
3.30 3.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs -494k -0.0007 -48.57 23.35M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 3.40 GBX

Upland Resources (UPL) Latest News

Upland Resources (UPL) Discussions and Chat

Upland Resources Forums and Chat

Date Time Title Posts
26/2/202419:17Upland Resources 12,374
01/11/202309:49Where's that admission doc and CPR?1
01/8/202317:50Upper limits for share prices13
16/11/202213:48UPL & BOIL, Wick and Sarawak Twins?9

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Upland Resources (UPL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-02-26 15:42:543.43500,00017,125.00O
2024-02-26 15:29:193.4757,6361,999.97O
2024-02-26 15:09:563.48200,0006,950.00O
2024-02-26 14:10:563.354,000134.00O
2024-02-26 14:06:073.312,60686.26O

Upland Resources (UPL) Top Chat Posts

Top Posts
Posted at 22/1/2024 15:12 by haggismchaggis
Upland Resources Limited (LSE: UPL) is pleased to announce the formation of a Finance and Investment Committee responsible for advising the Upland Board of Directors on activities related to the Company's assets. This underscores the Company's commitment to effective management on workstreams such as Block SK334.The Finance and Investment Committee's mandate encompasses a number of critical functions, including the oversight of joint venture funding offers which the company has received, preparation and oversight of formal farm-out proceedings, reviewing strategic interest on Block SK334 and unsolicited funding/farm-in offers.The company is now in the clarification stage of the PSC process, pre drill activities have commenced, a new illustrated project overview will be outlined to investors in the January shareholder update.Upland Resources is well financed to meet its work commitments, and appreciates the continued support shown from strategic partners and cornerstone investors.
Posted at 31/10/2023 12:21 by jaknife
Ahhh Luke Warm,

"And you know it was “phoned in”
How Jak?"

Because that's what the scumbags on Twitter wrote over the weekend of 21st/22nd October. That weekend various rampers posted tweets claiming that a bidder had called a broker seeking to pay 14p a share. Most of those crooks have deleted their tweets now but if you search Twitter you can still find the odd one or two that are left.

For example, here's a tweet from Geoff (@GSR1966) that was posted on the Friday evening after hours:

===========================
Just informed by major holder of Upland Resources that reputable broker called him on behalf of a bidder to buy Company. Asked if supporting a bid of 14p/share (fourteen). Holder & other large holders not supporting given big upside.
@Uplandtweets RNS required? #UPL #oilandgas


===========================

Obviously anyone Tweeting about the fake takeover on the Friday evening is somehow directly involved in the fake takeover.

You shouldn't feel sorry for these fraudsters - they were encouraging retail punters to buy shares of UPL at inflated prices on the market so that they could dump their shares into the market at a smidge under that inflated price.

JakNife
Posted at 30/10/2023 08:30 by loglorry1
Bit of a pathetic attempt to prop up the share price by UPL today. Given what has occurred I can't see the take over panel will be furious and will do all they can to ensure UPL does not continue as a public company. I'm sure a lot of the other regulators have been pulled in now to make sure UPL can't raise any more money and given there total lack of any substantial funds they'll just die a slow death.

Insiders probably not totally sold out so they will be looking to sell remaining shares for what they can get. Share price still 10x from lows.

PWhite is donk - please ignore his posts if you want to stay solvent.
Posted at 29/10/2023 23:08 by jaknife
haggismchaggis,

"Claims that Upland has no assets is blatant lies."

That claim is "no material assets".

"Upland owns 38 percent of the Dunrobin Prospect in Moray Firth, and 25 percent of Block SK46c in the UK"

Upland has invested an insignificant sum into Dunrobin, no number is recorded in the accounts. The estimated drill cost is £8m:



Upland's share of the drill cost would be c. £3m - £3m of cash that Upland simply doesn't have. Arguably it's a liability rather than an asset.

Block SK46c is similarly not shown on the balance sheet. Again it needs to be drilled and UPL will need to find cash to fund its contribution.

JakNife
Posted at 27/10/2023 16:53 by pwhite73
JUST HOLD ON MINUTE.

The argument by the bears was that the scam was perpetrated by UPL. Tonight's RNS clearly shows they were taken in by it themselves as they report Mr William Bollinger has contacted them, I suspect people were emailing him non-stop.

If you believe the offer news was a scam perpetrated by UPL and tonight's RNS is the closure of their scam now its done its job then I really can't help you.

As for the share price tanking 90% Monday? I doubt it the share price was 3p before the news.
Posted at 27/10/2023 10:41 by pwhite73
DDD - I've done that in my previous comments. The share price chart demonstrates the warrant holders held no financial advantage over ordinary shareholders when the offer news was released. The warrants were exercised to take advantage of a potential bid not to cash in on the rise in the share price up to 8p all shareholders were able to do this.
Posted at 26/10/2023 10:06 by michaelwhight
Leigh James Allen Form 8.3 - UPLAND RESOURCES LIMITEDSource: UK Regulatory (RNS & others)TIDMUPLRNS Number : 3220RLeigh James Allen26 October 2023FORM 8.3PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BYA PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the "Code") 1. KEY INFORMATION (a) Full name of discloser: Leigh James Allen (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. ------------------------- (c) Name of offeror/offeree in UPLAND RESOURCES LIMITED relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree ------------------------- (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: ------------------------- (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 23/10/2023 ------------------------- (f) In addition to the company NO in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" ------------------------- 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: NPV ORDINARY Interests Short positions ---------------------- ------------------ Number % Number % ------------- ------------- --- (1) Relevant securities owned and/or controlled: 37,500,000 3.13 ------------- ------- ------------- --- (2) Cash-settled derivatives: ------------- ------- ------------- --- (3) Stock-settled derivatives (including options) and agreements to purchase/sell: ------------- ------- ------------- --- TOTAL: 37,500,000 3.13 ------------- ------- ------------- --- All interests and all short positions should be disclosed.Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant Purchase/sale Number of securities Price per unit security (b) Cash-settled derivative transactions Class of Product Nature of dealing Number Price per relevant description e.g. opening/closing of reference unit security e.g. CFD a long/short position, securities increasing/reducing a long/short position (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class Product Writing, Number Exercise Type Expiry Option of relevant description purchasing, of securities price e.g. date money security e.g. call selling, to which per unit American, paid/ option varying option European received etc. relates etc. per unit (ii) Exercise Class of Product Exercising/ Number of Exercise relevant description exercised securities price per security e.g. call against unit option (d) Other dealings (including subscribing for new securities) Class of Nature of dealing Details Price per relevant security e.g. subscription, unit (if applicable) conversion 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" none (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" none (c) Attachments Is a Supplemental Form 8 (Open Positions) NO attached? Date of disclosure: 25/10/2023 Contact name: Leigh James Allen ------------------ Telephone number*: ------------------ Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk .This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDRETNKPBDFBDDFKB(END) Dow Jones NewswiresOctober 26, 2023 06:02 ET (10:02 GMT)
Posted at 25/10/2023 14:43 by ssrover
why would it bankrupt many the share price was 3p before a bid!

ZENGAS,Its called strategy. You never accept the first bid. The bid has to be formal. The reason you are seeing a drop in share price is also due to bid not being formal. When the bid becomes formal, the share price gets close to the offer price. The market currently is not pricing in any offer. Also we had warrants hitting the market. Like i said we have untill 20th November. It will either make many investors very rich or bankrupt many
Posted at 25/10/2023 14:38 by oilisgold
ZENGAS,Its called strategy. You never accept the first bid. The bid has to be formal. The reason you are seeing a drop in share price is also due to bid not being formal. When the bid becomes formal, the share price gets close to the offer price. The market currently is not pricing in any offer. Also we had warrants hitting the market. Like i said we have untill 20th November. It will either make many investors very rich or bankrupt many
Posted at 25/10/2023 13:48 by zengas
Originally invested here in 2015 but after COVEs Steve Staley went 4 years ago in Oct 2019, i remained on the sidelines ever since and studying the latest news.

Gone from 213m then and with the latest excerise in warrants just shy of 1.2 billion shares today.

Almost 9 years and regardless of share price appreciation to date i don't see where the value is in any of the assets relative to 14p because i would undoubtedly buy at 3-6p if i thought it was on.

A number of questions for me is why after all this time of languishing do they unequivocally reject the offer as it significantly undervalues the potential ?

That's a (£168m) $200m valuation. Who pays that kind of cash for just part of a virgin block.

It's 45% of a study on a 6500 km2 block with no wells drilled and just 456 km 2D and no 3D seismic and no psc.

That's $200m for something that they haven't got as a psc. So is the entire block really worth pro-rata 100% basis around $445m ?

Phenenomenal money - yet they dismiss it uneqivocally - ie not entertaining it.

Given UPL will need more cash (drilling, 3D, PSC payment and only very small 2D coverage) - how much is needed taking into account further shares in issue versus today ?

On that dilutory basis and taking into account all the drilling risk can they explain why it is significantly undervalued and how they see or think the share price will be relative to the dismissed 14p ? on a further 6-12-months/2 years timeline risk with x amount of additional shares ? versus dismissing 14p which is a 600% premium to the 2p share price 3 weeks ago.

They said in their last results they have to bid for the PSC - this leads me to ask another question, what price the government will seek from UPL for the block now they know the company is dismissing a figure of $200m for UPL itself ?
Upland Resources share price data is direct from the London Stock Exchange

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