UPL25 May 2017 23:22
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Upland Summary
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An independent oil & gas exploration start-up run by a highly experienced, well-connected management team with a proven track record of generating value for shareholders:
Norza Zakaria Chairman
Steve Staley - CEO
Bolhassan Di – Non-Executive Director
Jeremy King – Non-Executive Director
<Research these 4, top class>
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Two phase strategy:
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(1) Secure substantial near-term revenues to underpin Upland by acquiring interests in an attractive low risk assets near to start of production and with robust economics.
(2) Acquire higher risk, higher poten6al transformative assets.
First two assets secured, onshore UK – delivering on Phase 1 of the strategy
Potential Phase 2 assets under assessment
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Significant shareholders
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Shares in issue 383,168,632
Directors 38.3%
Optiva 8.7%
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Cash
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As of December 2016:
2.6 Million
AND
ZERO DEBT
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Malaysia
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Relationships with Petronas & in Sarawak
Excellent local contacts,unique access to opportunities
Politically stable
Discussions under way
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Morocco
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Long experience, good contacts now assessing several attractive opportunities including:
Up to 1 TCF gas potential in open acreage
Open acreage with multiple low risk discoveries & prospects
Good hydrocarbon licensing terms, high gas prices
Political stability, welcoming commercial environment
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Future
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The Wressle acquisition provides a solid, near-term revenue base to help fund, both ongoing costs & securing and developing the bigger opportunities being assessed now.
Major opportunities now being pursued in Morocco, Malaysia & Elsewhere