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Started: StockCheque, 20 Jun 2024 19:51
Last post: Jackastory, 21 Jun 2024 21:54
Iām using LBE as a short term trade to finance buying more UPL. Just waiting for the next leg up to exit and hoping that happens before any cap raise
By the way he was a holder in the share he now disrespects. Take this guy with a pinch of salts. Not genuine. That said LBE is absolutely sound. šš
Refers to Jung
Not sure as an ex investor you are poisoning this board. I know you sold out your holding in UPL. Fair play and good luck to you. I also have a small holding in LBE ( I love your positive insights on that board). But for gods sake please leave us alone.
Stuartv , makes sense . I sincerely hope youāre right. Extending time line by two additional months isnāt encouraging news. Was hoping for by end of June as in the program schedule.
Started: LongPositions, 20 Jun 2024 10:27
Last post: LongPositions, 20 Jun 2024 18:22
Award of Drilling Rig Contract is planned for July, on 20 June, so there must be some degree of certainty about this.
Also, agree that 'Sovereign State' implies country level.
Simply some people have no patience they just saw a slightly delayed date for the PSC and want to make gains now. A quick trade is what they wanted news etc. So they are selling up I suspect & wanting to return in a few weeks.
Personally the update is keeping all in the loop and spelling out exactly what UPL will be doing for the rest of this year...
It's not complicated to work out its all written down in B/W with a nice spread sheet detailing time lines....
Progress looking good
With key investors increasing their stakes, count for something I think imho..
so I for one thinks it is just a matter of time .. all needed now is the actual news on PSC ā¦. And the SP will lit š„
GLA ..
Under Section 6 - āPSC Submissions and Regulator Engagement ā According to plan due to conclude Aug. Interestingly shown a couple of rows below ref to āSovereign State Collaborationā also to commence Aug. Suggests PSC and JV/Farm out docs will be signed off by then. Sovereign State Brunei š¤š¤. Hopefully not long to wait.
If this stock was that good then why is it sat at this price? Investors selling on supposably good news?
The RNSs feel like wash rinse and repeat here, same old.
This stock is either going to be life changing or we are being hoodwinked, time will tell.
Started: StockCheque, 20 Jun 2024 07:33
Last post: StockCheque, 20 Jun 2024 13:58
It will be a free carry for UPL, like we see with AEX on their Tanzania blocks, and with many other small caps, won't cost UPL anything.
The block will require massive funding . Contracts being concluded to cover this. PSC sign off will follow on quickly after that.
UPL will be 10x a year from now, that is my bet.
I could list a load of companies worth Ā£150m with nowhere near what UPL has.
What LBE is worth, you need to decide that, as I know nothing about it.
At Ā£ 40 million market cap there is no credible reason why UPL is worth 4 times LBE today.
If its worth that much then LBE should be worth at least Ā£ 80 million.
Started: Matt007, 20 Jun 2024 08:52
Last post: DELPHROAD, 20 Jun 2024 10:51
We all await the signatures that really matters on the hopefully to be published documentations. Selling at present, makes no sense whatsoever to what the SP could reach.
The only thing i can see why people might decide to offload for a short period is a slightly longer lead time than they expected. So no patience is at play here, but those selling because of shortsightedness will have their shares bought by people who have longevity in their mindsetā¦ā¦some expected the PCS to be the next RNS and it wasnāt. But i have no doubt from this RNS it is on the table and it will be signed off and relayed to the market ASAP. At this point it is going north and not stopping. Fabulous update to the market.
Canāt see any negatives in todayās RNS and everything else is showing great positive signs.. and yet share prices still glued to the floor.. what do you know !!ā¦
IMHO when this starts rising to take itās rightful place.. there will be no slowing down..
Just hold and wait ..the rise is coming !!
GLA
All the signs are there. Just gotta have more patience and build a healthy position here to reap the rewards!
Last post: ArthurQueenstow, 20 Jun 2024 09:28
Zak sums it up well in his comments
āProper, significant news is required to make the trade here a little less crowded.ā
āUPL has been and remains one of the most crowded trades around, with the shares still sucking up institutional placing that was delivered back in April. Proper, significant news is required to make the trade here a little less crowded.ā
https://zakstraderscafe.com/rns-hotlist-june-20-avacta-blackbird-cmc-ecr-edx-filtronic-helix-kibo-light-science-optibiotix-power-metal-sovereign-upland/9633/
There hadn't been a date given for the Competent Persons Report (CPR) previously in the Monthly Progress Reports as far as I can see. Now it is scheduled for August/September 2024, which probably means it won't be out much before mid-to-late September.
Started: ArthurQueenstow, 20 Jun 2024 08:18
Last post: StockCheque, 20 Jun 2024 08:31
A broker note would be great at getting awareness of the company out there and getting ii's drooling at the thought of a multi well programme on a world class asset.
I'd expect a broker note to put fair value today at Ā£100m to Ā£150m in a peer comparison. With huge upside potential on successful drilling campaign.
Some strong content in rns
Two observations from the monthly update
PSC Submissions and Regulator Engagement is stretching in to July & August.
New Corporate Brokers & Research Initiation is showing through to July.
Research initiation is a new introduction.
Could a research note and a target price be on the horizon from a broker ?
Sold subject to contract, or sold STC, means that the buyer has made an offer and the seller has accepted it.
Next RNS will be released very soon as contracts already drawn up ready to be signed and sealed!
RC seem to have been correct posting yesterdayā¦
It was never personal Mr C. I always reserve judgment with regards to posts on these boards. That said lots of genuine guys on here as well. Posting history is my guide.
Stuart - there is nothing wrong with sharing information.
Starting to lean more towards Saint than Sinner Mr C
Started: StockCheque, 20 Jun 2024 07:18
Last post: NCTrade, 20 Jun 2024 07:56
There is still time to get in early at these pricesā¦
PSC & Investment Partners
May 16th Upland confirmed that we are engaged with PETROS to finalise Upland's application for a Petroleum Sharing Contract (PSC). The Company awaits approval.
May 16th the Company also confirmed letters of interest from two potential partners. These are now at the stage of detailed terms of reference subject to contract.
Contract drawn up ready to be signed!!!
Worth looking at plan on website for more detail on dates for rig transportation and start of drilling ops. Plus other activities of interest.
Check out THAT RNS!!
Started: techguru91, 20 Jun 2024 07:31
Last post: techguru91, 20 Jun 2024 07:31
Think the anticpation rise will start. The clue was last week when the Malaysian investor put in anotehr Ā£500k at 3.3p when the price was much lower. Big things coming
Last post: adamrlowe, 19 Jun 2024 18:00
You too mate....and don't get me wrong, we of course would love it to come to fruition.
First drink (alcoholic or non) is on me. šš
Like I suggested, screenshot and save the post and come back to me Adam.
Have a lovely evening.
Err....we aren't "literally" talking about a stopped clock, right? That would be insane. I'm sure you are aware what an idiom is.
From the BEST website:-
In the dynamic world of upstream energy exploration and production, where our sister companies are at the forefront of unlocking the potential of oil and gas reserves both domestically and internationally. As partners in producing blocks operated by major industry players, we are committed to driving excellence and innovation in every facet of operations.
Through strategic alliances with leading oil and gas operators, we have secured a foothold in producing blocks in Brunei Darussalam, Canada and Malaysia. In the domestic landscape, we are actively engaged in maximizing the potential of the blocks, contributing to the nationās energy security and economic prosperity. Internationally, we collaborate with our partners to unlock new frontiers and capitalize on emerging opportunities.
As proud partners in upstream ventures, our sister companies embody the spirit of collaboration, innovation and responsible stewardship.
Adam, will all due respect, a broken clock cannot tell you about a JV or Psc. If life was as simple as using a broken clock, you wouldn't be posting on lse.
Save this post as a picture for when you wake up each morning. JV with Brunei.
Started: NCTrade, 19 Jun 2024 09:57
Last post: NCTrade, 19 Jun 2024 09:57
Fundamental havenāt changed here, those selling out will buy back in again knowing prospects here are huge.
Gla :-)))
Maybe some are looking at a short term small percentage gain elsewhere in another stock hoping they can return back here and buy in again at the same price.
Risky strategy as confirmation of psc and jv can land at any moment losing out on multi bag opportunity
Bid
I canāt see whatās really changed between yesterday and today. Maybe holders are getting impatient waiting for the PSC to drop. Hopefully settling down now. MMās quoting 2.88 on the Ask.
Whatās with sea of red in this early part of the hour ?
Any explanation out there?ā¦
GLA.
Started: stuartv, 18 Jun 2024 16:54
Last post: StockCheque, 18 Jun 2024 22:14
Thanks AQ!
TUESDAY 18 JUNE 2024 (ORAL TECHNICAL PROGRAMME)
Session 1: Keynote Session ā Asia Pacificās Energy Future
Session 4: Malaysia ā The Next Exploration Cycle
Chairs: Ili Afifuddin (Perenco) & Sh Shahira Wafa Sy Khairulamir Wafa (Petronas)
16:05-16:30 Exploration Sabah: The Past, Present, Future.
Colin Grant, Shell
Check out this post. Any idea who did the presentation today instead of him?
https://www.linkedin.com/posts/colin-grant-a338a39_i-have-now-left-shell-after-a-very-enjoyable-activity-7185996358334468096-yKPp/
Matt007 yes psc and jv is coming home indeed lol
Thatās certainly positive to hear and seems like itās all lining up really well.
Those strategic investors must have known a deal would be struck and were smart to have taken their positionsā¦
Itās coming home!!!
They said that Longboat energy and UPL got favourable mention from a representative of SHELL today at this conference today and it was noted that Sarawak is close to kicking on
https://asiapacific.ges-gb.org.uk/files/2024/06/AP24_Programme_07.06.24.pdf
Started: ArthurQueenstow, 18 Jun 2024 09:41
Last post: ZENGAS, 18 Jun 2024 15:54
Calender year of bookings - as in to show whre their rigs are located/moving to next/sequence of jobs and if someone takes up the extension period, then you usually see an RNS saying the rig is still tied down with the current user and when expected for release.
I think that might be 3 months actually on the field Stuart with an extension of 2 months to stay there before moving to a different field/company. That could indicate a multiple well programme for that length of time.?
It wouldn't pay a rig company to have 2 companies make a booking like this as it would only bring in over $250k revenue a year in bookings at that rate.
Usually they wouild have an indicated time slot of whrere the the rig is currently. If it's cold stacked then UPL could be next in line or coming off another job.Can't see any details for Huisman but most of the rig providers provide a calender year of bookings.
Interesting reference on page 7 of UPLās annual report:-
On 13 April 2024 the Company entered into an agreement with Huisman Geo BV whereby the Company 2 pays to reserve availability of 2400-6 drill rig for a term of 3 months, extendable for a further 2 months.
Drill anticipated by Sept ??
Id suggest reading Arthurs posting history on UPL before being drawn in to convos!
Until we get another update chart we wonāt know if the timeline will be extended but going on the current information it should be settled by the end of this month.
Started: stuartv, 18 Jun 2024 15:53
Last post: stuartv, 18 Jun 2024 15:53
Thanks Zengas.
Started: NCTrade, 14 Jun 2024 16:21
Last post: ZENGAS, 18 Jun 2024 09:12
Copperpot
Maybe learn to think once in awhile ! 29-5-24
Loads of positives here ..
Be in it to win it ..
GLA!!.
š¶ šš š
Itās been exactly 2 months since the PSC and Joint Venture were announced with discussions being in their final stages.
Some Malaysian investors invested significant amounts of money in here knowing full well whatās to comeā¦we could we get that all important breaking news at any moment that would make vast sums of money for those already invested with the herd arriving thereafter wanting a piece of the action :-)))
Welcome to the board Joe š
Started: lovelife, 13 Jun 2024 12:59
Last post: ZENGAS, 14 Jun 2024 11:36
I posted this on the LBE board but removed all the LBE reference material but equally applies here imo
I was using a $3/boe in ground valuation pre production for either Co making a sizeable discovery. Below news is on a very mature producing field.
Todays news - Hibiscus buying Block B, 85 km off Brunei (next door to Sarawak) which is the late life mature MLJ fields from Total Energies for $259.4m.
Production commenced 25 years ago in 1999.
Buying a net 24.2 mmboe 2P and 6.8 mmboe 2C as of 1/1/23 with 7,865 boepd production. (84% Gas).
2P cost = $10.71 per boe or $8.36 per 2P/2C combined and $32,980 per flowing boe.
Presentatation
https://ir2.chartnexus.com/hibiscuspetroleum/docs/Analyst-and-Fund-Managers-Briefing-Deck-Proposed-Acquisition-FINAL.pdf
June 14 2024 Reuters) -French oil and gas major TotalEnergies will sell its Brunei business to Malaysian independent exploration and production firm Hibiscus Petroleum for $259.4 million, both companies said on Friday. For Hibiscus, the appeal is in acquiring a well-established natural gas asset in a stable neighbouring country where the group hopes it can boost output. "We have been looking for the right opportunity to enter the Brunei energy industry for some time and ... the additional volumes from this transaction ... will provide an uplift of nearly 85% to our gas production," Hibiscus Petroleum Managing Director Kenneth Pereira said in a statement.
Hibiscus said it expects the asset to add 7,900 boepd of gas and condensate to the group's total production in 2024, with plans to improve performance over time by cutting operating costs and investing to slow the field's decline.
https://www.marketscreener.com/quote/stock/TOTALENERGIES-SE-4717/news/TotalEnergies-sells-Brunei-unit-to-Hibiscus-Petroleum-for-259-million-46971804/
Final score:
Irishdemon 6 jgjam 0
Oh and just to complete my charity services for the day- it is not 'your' but 'you are'. 'Your' is a Pronoun in case you are not sure - a 'possessive' pronoun in most cases. Another Masterclass tomorrow if you wish to sign-up. How about Bid and Ask definitions and deployment ?
I am so pleased you think I have been 'kind' and 'thoughtful'. That has fulfilled my goals of the day. Nighty night !!š¤£
How kind of you ! So thoughtful. Are you referring to āoffice manger & flop ? Two combatants with not much better to do . You tore a strip of a poster only recently to be told by another your out of order.
Please, once youāre finished doing your charity services for all the other posters on here. Go educate and familiarise yourself on the chat rules on this site.
Started: lovelife, 13 Jun 2024 10:23
Last post: mcivorv2.0, 13 Jun 2024 12:49
The company changed their year end date from middle of the year to the end of the year.
AGM must happen within 7 months so will be by end of July.
Three weeks notice for exact date.
I must admit I was expecting this to be closer to 4 as the crowd take their seats š„³...
How do we know the AGM 6 weeks?
It feels like we are in the starting blocks for a 200m raceā¦.
You can feel the tension in the crowd, a slight cross wind
Giving a slight nervous wobble in the blocksā¦.
Head down & I can feel my own heart beatingā¦ā¦
Poised ready to raise my head
Started: MrBigPiece, 13 Jun 2024 11:17
Last post: RaMp_WatCheR, 13 Jun 2024 11:27
I'm expecting Suhail Mohmad to be at the AGM.
Anyone who thinks about Upland every waking hour and it totally obsessed with the company has got to be an attendee contender
10p by end of July :)
Is a maximum of 6 weeks away!
Will the PSC be completed by then ;)
Started: Matt007, 11 Jun 2024 12:26
Last post: Make5Mil, 12 Jun 2024 20:07
Irish .. read what was typed .. it was a question ?
If you had the answer you just had to clarify.
Unless we canāt ask questions on this platform because some of you take offence ?
Get a grip !! Donāt think you are none smarter!!
GLA.
Bit harsh, Irish.
MrBig. yeah that one looks like a buy. How does one transfer from account to account and bypass the 6% odd spread? Thatās why they looked like sells.
God save us from amateur investors -Make5Mil being a classic case. Knows b----all about SP movements and Bid-Ask patterns. Thinks he is in a casino - perhaps he is !š
Agree. I put through a dummy sell for a sizeable chunk at 4.15ish. Got quoted 3.033. If the 9 million were sells the MMās would have been awash with shares. Assuming I received a quote the SP would have been way south of 3p.
No one dumped 9 mill!!
the 903,846 was a buy as someone already proved that in the telegram group!
the others are transfers from account to account!
If someone had dumped 9 mill we certainly wouldnt still be in the 3s
Small volume, but pretty much all sells. People are fed up of waiting. This looks like 3-6 months away for major news now.
Started: mcivorv2.0, 7 Jun 2024 13:59
Last post: StockCheque, 10 Jun 2024 15:30
PSC first and far out after is not nonsense.
1) Petros and the government have enlisted UPL as their experts to drill and produce the field.
2) It makes no difference to Petros or the government who UPL farm out to, as UPL are the experts and know which oil major(s) to select to partner with.
3) It's only a farm out if UPL are given the PSC prior to bringing on a partner. If oil major(s) came in before the PSC is issued, then they would get their own PSC from Petros, clearly that is not what is planned, UPL will need the PSC legally in their hand before they can farm out a percentage of it.
The way I see this is that the PSC is Uplandās and will be signed once all parties to PSC are agreed (none of this issue PSC and then farm in nonsense). Petros want to get going on this block development. (Other onshore and offshore blocks given by Petros to smaller companies have been slow going.) Upland has the rig ready to go when it has finished negotiating with prospective partners to the PSC at the behest of Petros, I imagine. That PSC partner needs to have the deep pockets to get going on a drilling and development campaign which Petros will demand whilst not leaving Upland with a low percentage of PSC . Hence Upland working through many offers and needs to find the right balance to appease Petros demands but also Upland as a developing company with aspirations. That is why the last para about ālong term interests of all stakeholdersā is key imo
Just musings
Once confirmation of the PSC and JV comes through, the share price would be a lot higher than todays price that's for sure
The next RNS could come at anytime, too risky to be out now
āAs we would expect the potential of SK334 is attracting a lot of attention and we already have some very serious alternatives to consider. We do expect there to be a lot more interest and as a Company we will make sure that the options we choose move us ahead but also are in the long-term interests of all our stakeholders.ā
*Chairman - 16th May
Started: Matt007, 10 Jun 2024 11:13
Last post: StockCheque, 10 Jun 2024 15:15
Volume currently showing as:
Bought 7,580,081
Sold 4,676,343
Unknown (likely reported at MID price) 736,512
So there's only 2,903,738 more bought than sold.
The company has 1,320,000,000 shares in issue. So the volume is peanuts, and the volume of bought over sold is even more so peanuts.
The stock is slightly up though, 4.69%. Can't really complain at that, especially if we get it for a few consecutive days.
News of the PSC or oil major farm in partner could blow the doors off though, and either could drop any day at any time.
With all these huge buys .. why is the SP still here ?.. š¤
GLA
better than your ****ney? lol.
who knows. hope building for the big news.........
Said in my best welsh accent
Started: StockCheque, 7 Jun 2024 07:07
Last post: StockCheque, 7 Jun 2024 13:24
Ā£44.37market Cap is a joke really for what this company has. It's sure to go a lot higher with:
Oil majors farming in, quite possibly leaving UPL with a free carry to production.
Drilling an onshore target that is next to a billion barrel oilfield.
Finding oil in large quantity that is much lower cost to bring to market than offshore oil.
When big investors ask the company for stock, then you know it's a good thing, and that is precisely what happened recently with UPL.
Those wanting to trade this will miss out on a bigger returnā¦
You wouldnāt want to be out of this for a mere 10% profitā¦multi bag opportunity awaits us to all those remaining patient :-)))
Hopefully this is the beginning of more great news flowing and taking this share price to greater highs!!
GLA
The RNS from this morning gives us great confidence and belief that the PSC and JV are most definitely a done deal, just a matter of time when this news gets released officiallyā¦
:-))
This is very positive news!!
Started: 1575Tumper, 7 Jun 2024 09:14
Last post: NCTrade, 7 Jun 2024 11:17
The investor from today and another Malaysian investor from a week must know that these deals are getting finalised and the share price will re-rate rapidly netting them a huge returnā¦
Theyāre not the 10% profit brigade thatās for sure lol
That is positive progress. Money is put where his mouth is. Hopefully his influence in the project territory can be exercised to expedite the long expected psc. GLA
Ask and Bid increasing now.
I wonder if we end up getting that all important PSC and JV news on Mondayā¦We will find out soon, stay invested and stay positive
This mornings RNS Is very positive news major share holder increases his holding. The local knows whatās coming