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There are loads of moving parts but for me that PSC is the cornerstone and I am really hoping that drops pretty soon .. that to me could be the game changer !!.
GLA
Yesterday’s RNS definitely changed overall short term sentiment from neutral to positive as a result expecting a steady rise next week. Share price should also get a boost the following week when investors top up their ISA’s in the new tax year. Of course all bets are off if the volumetics and or finalised PSC news drops.
Good news flowing from the company, very pleased.
Acker
"lead prospects", note it's plural which is great stuff
Chief Executive Officer and Chair Bolhassan Di said: "Full focus is now on our intended high impact drill campaign onshore Sarawak. We look forward to updating the market on the lead prospects for Block SK334 as well as licencing and contracting arrangements in the coming weeks as we scale up development."
Hi All,
New here.
What's the Q2 thing please? Is this related to operational activity or a re rate of company valuation?
Appreciated, thanks.
Hold on people this rocket is about to go
Expecting major catalysts and multiple 🚀 the board have spelt this out in no uncertain terms what’s coming up
🤣🤣🤣🤣🤣🤣🤣
It's all about Sarawak now ... and Hardstoft!
Shame to see Dunrobin go, but looks like the right decision - BOIL RNS provides some detail.
I know most UK stocks are undervalued due to money leaving the UK market for a few years, but £37.86m for UPL seems crazy low for what's at stake. I'm looking forward to the re-rating in Q2.
The update is totally unambiguous. No investor can have any doubt about what UPL are doing, or what news flow to expect in the near term. UPL can't make it any clearer.
SK334 Exploration: Progress Report & Next Steps
· Drill crew & Project teams identified, contracts under review.
· Onshore drilling rig Inspection completed on 26th February 2024 at Sviadnov, Czech Republic, as part of SK334 drilling rig selection and operational preparation.
· Pre-drill work programme developed for accelerated drilling programme.
· Commencement of formal farm-out proceeding with interest from strategics reviewed, shortlist now being finalised.
· Planning & scheduling of anticipated works with PETROS.
· Engagement on PSC work scope with PETROS.
Following a successful week spent in Sarawak in March progressing and finalising the PSC framework, and further to the announcement made on 5th February, Upland and PETROS are now in the final stages of deliberations on the PSC award and framework.
Bolhassan Di, Upland Chairman and CEO commented:
"Full focus is now on our intended high impact drill campaign onshore Sarawak. We look forward to updating the market on the lead prospects for Block SK334 as well as licencing and contracting arrangements in the coming weeks as we scale up development on Block SK334 in Sarawak."
Excellent, things starting to move now
Was 4p in Feb and we are on the cusp now
Should have a good few weeks ahead
Agreed.seems things are progressing according to plan.
A well timed RNS - I can enjoy my choccie Easter Eggs now.
Agree Matt. Also gives UPL greater leverage in any negotiations.
I think 100% is very conservative giving that we expect
PSC
FUNDING
JV
DRILL UPDATES
VOLUMETRICS
AND A Q3 ‘DRILL CAMPAIGN’
All WITHIN THE COMING WEEKS and MONTHS!
PSC award any day now. Wonder whose on the shortlist? Got to be some big players we're negotiating with. Any sniff of a major and we're firmly in the teens!
Some exciting things going on. Expecting PSC to be announced any day now and a packed Q2 ahead
Should be good for a 100%+ rise in Q2
.
https://upland.energy/wp-content/uploads/2024/03/SK334-Sarawak-Progress-Report-Feb2024-Rev3.pdf
.
All looking good guys. I like the bit about the shortlist 👍👍
My guess is people sitting on profit's thought they’d be doing their end of year tax allowance trades into a PSC announced rise and instead we are in a holding pattern with not much buyers liquidity so these profit taking trades are weighing the price down. It’s presented quite the opportunity if you’re a believer in where this company is headed and get your timing right
Make5Mil - Generally agree about yesterday's tweet, but shortly means soon in anyone's book so I took that to be a positive.
Anyway, the proof will be in the pudding here.
ATB