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I would prefer we get news on the PSC before resuming trading imho
GLA
We r back in business, suspension lifted
Suspension lifted at last. It's been a long wait. Hopefully a nice blue day to put the last month behind us!
Managed to buy two lots straight on the bell :-D
This Resources Update has also come out today:
https://www.londonstockexchange.com/news-article/UPL/resources-update/16480119
While it doesn't specify any figures, it does add that "Upland intends to conduct a Competent Persons Report (CPR) in the near term." so real figures will be on their way soon.
There seem to be a few sellers around - particularly the 500K one who has had 3 offloads so far - but I'm not sure why they would sell at less than the recent placing price.
ATB
Pretty simple really. The seller is clearly not one of the placees !!!
"The three structures, combined have yet-to-find unrisked median hydrocarbon resources that are in the same range as those in the Seria and Champion fields."
Research for Seria field has uncovered; "This field has produced more than 1 billion barrels of oil for more than 75 years. "
https://en.wikipedia.org/wiki/Seria_oil_field
research for Champion field has uncovered; the picture indicates >1bill barrels...
https://2b1stconsulting.com/one-day-one-country-brunei/
EarEyeAm, I see you beat me by one minute :-)
I expect the sellers will dry up soon. Probably just a few holders got the hump over the suspension but in reality there has been positive news since including today and a CPR is now being prepared.
How did you work that one out pd101?
Judging by the size of the trades in BOIL today, I doubt it. Nice attempt at a cross ramp though! 🤦🏻♂️
Keep BOIL of this platform !!!.. this is called UPL PLATFORM for reason!!!..
Make5mil
Thats what Will smith would have said lol :-))
This taken from the RNS released on the 17th May 2024:
Bolhassan Di, Upland Chairman and CEO commented:
"The level of interest in Upland from new institutional shareholders and from our existing strategic investors illustrates the anticipated value of the Company. This combined with the interest from potential Joint Venture partners gives me and the management team every confidence that our SK334 campaign will be well funded."
Smart money will soon start piling in with large blocks of money…
One key Malaysian strategic investor had increased their position as they know the value of this…
Reads as an interesting play (first time looking in) but guessing the placee's must be a little miffed at todays action.
Market waiting on the PSC to be awarded before getting excited?
Placees will be ii's and most likely have a much longer view than a few weeks for their ROI, unlike the majority of PI's that want their profit yesterday.
Interesting timing for lifting of suspension, i would say they would only have done this if they were confident of announcing that new partner or indeed partner,s . The assets are very good and there has been very strong interest from partners and investors. Has great near term and long term potential this one IMO.
This should not be down at these levels so there is currently a huge buying opportunity here.
Agree stockCheque and as noted by others there's always sellers once a stock come back from suspension no matter the prospects.
Did note on advfn it was being pushed that they were a sell as they hadn't RNS'd the PSC. Thought it shortsighted myself but there you go. See how the action goes today.