Member Info for LongPositions

Upland MCap (£42.19m) on London Stock Exchange website reflects post placing number of shares in issue.

Upland's goal is "to become the leading onshore exploration and production company in Sarawak".

As things stand, this goal can only be achieved with the PSC/Licence award for SK334 in the first instance.

Step in the right direction today, as surely listing/trading suspension will need to be lifted before placing shares admitted?

Hopefully lifted soon My_username, as there's nothing positive about this suspension.

Anyone know the status of the placing?

Near term could mean days, weeks or months, depending on the situation.

The RNS states that the auditors have requested additional time, that there are no material audit issues, and that the auditors have informed the company that the audit will be completed in the near term.

Volume up yesterday and today.

Thanks both - wondered if I'd missed something.

CWR 30% up since last week - any thoughts on what's driving this?

Things have been back to front here for a while, but knowing the names of the drill team before PSC/Licence awarded takes the biscuit!

Placing discounted at 3.3p to make it attractive/worthwhile for those putting up the money. Management were buying around 4p in January.

It's a case of toughing this out if you're holding - painful day on paper though!

Emotion aside, this placing is largest in monetary terms that Upland has undertaken, and at less than 10% dilution.

Market needs concrete news to move the dial here.

Today's tweet from the company can only be interpreted as positive, but a bit bemusing as the significance of the meeting is not clear.

It seems that the Sarawak government is determining the timetabling of O&G development in the region as part of a wider economic plan.

"... we anticipate a cascade of upstream and downstream activities in Sarawak" - Premier Abang Johari

Kinshasa and London have the same time at the moment, so an intraday RNS today/tomorrow could be on the cards.

£32k trade from Thursday late reported as well.