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I’m holding for the long term. No worries here. All positive.
Never good news short term. Been here before with ELA. Unfortunately sometimes companies need money.
Emotion aside, this placing is largest in monetary terms that Upland has undertaken, and at less than 10% dilution.
Read between the lines on here and X. Last chance for some folk at getting a cheaper entry now we are capitalised to 1st drill
Ask yourself what conversations the company had with this handful of smart money to get the placement away with no need for anymore silly warrants either
and don’t forget they just had to put a deposit down on the rig.. Money doesn’t grow on trees
Cheers ‘captain obvious’ Sausage. They did a placing at a 25% discount to the closing price today, and you say that. 😂😂 Good god. And many companies, of late anyway, announce a raise after close. What is it exactly that you mean when you say, ‘says a lot.’
Only heading one way on Monday morning, and it ain't up.
After hours RNS on a Friday for a placing at 3.3p, says a lot
Make5Mil: Totally agree with you.
There’s something very fishy here. I personally don't think that they’ll ever drill a well. Get PSC and sell - period as they say in USA.
All hot air and no facts.
Someone tell me how you’ll drill a well there, even onshore, when there appears to be no plan, no volumetrics, no licence, management structure, no structured discussions and BS meetings which don’t seem to merit much discussion. And I could keep going. And for $4m. It’ll cost that to buy the pipe and ship it let alone prepare the drill site, ship the rig and set it up. And the service companies??Schlumberger probably wouldn’t get out of bed for that cash given that it’s an exploration well which will need every tool they’ve got to assess it.
I’m losing the will to invest here.
Can’t be faulted as it came from the bod! Fuming!
Don’t want to sound pessimistic but think this may head back into the 2s imho.
This has been running on empties for a while now any n now a placing at 3.30p..
We need some real factual RNS I.e whether we have an asset at all (PSC), quantity (Volumetrics), actual names of who these JVs are .. !!! Etc not hot air !!
GLA.
Kudos DL.. 🫡.
exactly what I was saying earlier in my post
need to be careful here with what people say !!...lol
GLA
Good to read back over Mr Flop Flop's posts.
FYI. 15 Apr 2024 16:46
Have contacted the board this afternoon and asked about this magical raise taking place, a few replies below -
`LIES`
`AS PER RNS WE DO NOT PLAN TO RAISE CAPITAL`
`WE WILL SILENCE THEM SOON`
ENJOY :)
His contacts on the board must really respect him !!!!
Spoofer.
A value accretive placing that few seem to understand. Guess that’s what makes markets
Share price will obviously take a hit on Monday and go back into the 3s considering it’s a placing at 3.30p but will hopefully be short lived.
Obviously not ideal but I think people have overlooked the fact that this was to accommodate two II’s in the natural resources sector, onto our share register. Did it need to be at 3.3p though? I’m just glad I didn’t add this afternoon, as I was about to. It’ll be going in at 0900hrs Monday now, though.
GLA and have a good weekend.
You keep telling yourself StockChecker. In my experience any company that needs money to fund stuff, the SP never ever goes up.
Happens over and over, oil companies, mining companies, technology companies. All the same rinse and repeat
Guessing this was the reason that after all the recent RNS n positive publicity on tweeter(X), someone kept dumping shares..
🧐
GLA
They waited until after hours to sneak in this RNS.
Placing shares to be admitted on the lse on the 6th May, that’s a Bank holiday
I'd take kindly to a couple of comments below, perhaps this is a form of temporary protection whilst negotiating,
Someone boldly mentioned this here a couple of days ago and we buried him … hmmm
He was very confident about it happening!!!!
So they were not ‘fully funded’ as they told us? .. me confused 🫤
Stockcqueche , how much of a multiplication do you see, once drilling?
Good educated positive comments the previous two .
I think the market will digest this and respond well next week. A small but necessary placement to allow focus on the prize
Prudent to put $4mn on your balance sheet whilst negotiating with partners I would think and with only 3 quality placees. That’s a win for me
"The net Proceeds of the Placing will provide the Company with sufficient capital to support its business plans, including drilling a well."
They must be very confident that they will be drilling that well, so I'd ignore the placing price and the dilution, as drilling the well will multiply the share price.
Perhaps this is to ensure upl have the funds to fulfill their side of a joint ventire commitment. Could be the other partner is now ready to sign ot off. Lets hope so.