Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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All explained this RNS -
https://www.londonstockexchange.com/news-article/UPL/historical-block-sk334-data-confirms-prospectivity/15935731
@jack — Hahahaha.. I see your level of comprehension nicely displayed. No offence
Preaches context and does not know what it means..lol
Calls an item lies and does not do enough research first….lol
GLA..
Absolutely follow the money....
My take on the RNS is that it is a huge net positive.
To push forward with SK334, we raised small amounts at 0.25 and 0.6....and then 4 million at 3.3p... and with key institutions, not retail investors.
🔥 A huge week with meetings with Sarawak Premier in UK.
🔥JV and LOI... & now funded to "go it alone" if needed, to retain & return serious value.
🔥 Rig secured.
🔥 Every raise at a higher level than before.
🔥Key Institutions on-board.
https://twitter.com/bigguyad/status/1784155505717346744?t=dKWEjPk5Lbc9Ur9FXZp2pw&s=19
No II is slinging millions at UPL with no PSC etc coming!!!
Big news within the next couple of weeks!!!
So you just read ‘fully funded’ and ‘well financed’ and ignored the rest of the context in the sentences. You’ll never make5mil if you lack basic comprehension. No offense
I might look daft and sound even dafter but with a PSC pending and coincidentally everyone one who is seemingly involved in the project just happens to be in London for a trade delegation. Yeh right. Where are the pics of meetings with other potential investors. Keep the faith guys. Roll on Monday 👍
I’m expecting an RNS tomorrow.. PSC and volumatics. Sign off in London last week. Close of play raise RNS Friday to get negativity out of the way. Watch this space.
Crucially, our low-cost operating model means we are now fully funded to complete the Joint Technical Study in Sarawak, covering all work commitments into 2024.-saw this .. maybe I am reading it wrong lol..
Also if you are ‘well financed’ is that not synonymous to you not needing anymore financing ..
listen, take your time to read what I wrote before rushing out ..
no further comment on the topic !
GLA.
That’s not true. Where does it say ‘Fully funded’?
‘Well financed to meet its work commitments’ is what was said in January
They just put a deposit down and reserved a drilling rig. You think that was chump change? You think that’s a work commitment or part of the big boy next stage?
Would you have preferred for them to have lost their chosen rig to another company because they are not in a position to pay the deposit until they have the financing PSC partner nailed down?
The story here changed from fully funded to now raising fun. I get it that strategy may have changed but I can’t blame people from venting .. it is allowed.. we investors here want to see the company do well as is in our interest.
Maybe a clarification from the company will put this to bed swiftly. Whatever everyone here is offering as a possible explanation is at best a guess.
So Mr Positive with the pink glasses through which everything looks perfect, also needs to chill!!
GLA.
Oak have raised over £1bln for their clients so perhaps they have been brought in as fundraisers for UPL. So what is the new strategy?
Some on here need to chill, the negative people will do their thing and spout stuff like I bet they don’t even drill. The scenario here is most prob they needed money to get a better slice of the pie.
Ask yourself why are these institutional guys investing 3m plus on nothing, no psc etc etc….myself and others weren’t expecting this that’s for sure….but they have more than enough cash for working capital….so why now the need for this money…..
If meant for me kindly refrain from involving me in your Immature chat & comments . If not meant then I apologise in advance
Smart money don’t throw money away. To get this placing done to so few individuals at the price the stock was trading at less than 3 weeks ago and without a confirmed PSC they must have wall crossed them with some pretty juicy MNPI. Wouldn’t you think?
The narrative on these boards is completely delusional
Blimey the one post Willys are descending to spread the gloom. Green box for the yellow skinned superhero.
Apologies Flip , not privy to the telegram group.
Interesting the raise is in dollars so that is 3.3mill raised.
Wishes, wishes, wishes, how I hope they come through !..
GLA !!
Thanks flop , not encouraging at all. Not the first time the BODs integrity has been called into question. I do believe they are decent people and truly want the best outcome along with every other investor .
jgjam - yea it’s from the company i’ve shared the email in the telegram group!
upl have said things changed last week which has put them in a much better position
i’m as ****ed off as everyone but it is what it is
3D seismic is one of the most important techniques to help geologists and engineers to find out where possible hydrocarbon is below thousands of feet below the earth surface. Without 3D seismic technology, many oilfields cannot be discovered. Has Upland done a 3D here I can’t see it referenced anywhere?
I think the 30 day SP average is often used to set placing figures - so would need to work this out to establish scale of discount. Share was at 2.7 a month ago, so maybe it’s not that large a discount.
Make5mil, as it was Mr Flip who posted it , the author so would start at source of information. Clearly a large contradiction in the response. Given this was only days ago, you would expect the BOD to have been lining up this cash raise / placement .
I am not giving my opinion, just stating the facts. I am well invested into UPL. Things like this. Do not give me much confidence .following the last after hours Friday R.N. S it certainly didn’t put the face of the integrity of the BOD .
If the posted response was from UPL, clearly that is not encouraging is the significant investment they have secured from the placement. The investors must have confidence in a return on their funds put forward. They can’t be privy to any more information than what we are?
Simple answer. Because it’s at one hell of a discount. I’d like to know what they are bringing to the table for that apart from cash.