Member Info for saintpeter7

Agreed gingern that the company are doing the sensible thing (as I would expect them to). Naturally, there have been a few investors who on reading the RNS have decided to jump ship which has knocked the SP a tick. I will keep hold of my shares as I am sure that 2017 will prove a good year for the company as the Batangas project develops. I would expect a DFS to be presented in the first quarter of 2017 once the company have the full information held by Red Mountain as they had originally advised that it should be ready for the last quarter of 2016. We await information on the unsolicited offer, which I assume is still being discussed as we have had no RNS stating otherwise and also how the copper concentrates business is doing. With the mcap at just £3.45m and with that further news to come, IMHO is one to buy particularly on any drops in the SP.

Yes, that's the problem, unless we get good updates on such as the solar programme. I note that most trades are automatic execution trades which seem to cause an automatic sell off in the shares at present. At some point the shares are going to get ridiculously cheap if this drop carries on. The trouble is knowing when that may be because as you and Shaxe have said it is difficult to place a value on the company. Perhaps the SP is being driven down so that the company can be taken private by the chairman. If you think that is absurd, please do tell me so.

Thanks Frank - good to have you on board.

about bid and offer shown at present and the trades today. Up and down like a yo-yo, after the known sale at 1.385! 1.425, 1.422, 1.46, 1.42, 1.44, 1.46 and finally 1.42. All shown as buys and none of them appear to be sales. Is this because the buys have been from different mms?

Well I bought back into MYT too early at 49p a few weeks ago. I suppose I should have waited until there was some imminent news. Depressed SP; depressed investor! Current price is the lowest since it came to market back in 2010!

Volcanic have an AGM and SGM on Tuesday, but there does not appear to be anything over than normal matters to be approved. Hopefully, though, their Bod will give an indication of whether their placing has been successful so that the agreement with SMA on the Guinea assets can be finalised and SMA can become a cash shell. It then has 6 months to arrange an RTO. In that SMA's Bod said that they had entered talks to buy another mining asset and were carrying out due diligence on its prospective deal, back on 7 November, hopefully, they will not take anything like that length of time. An RNS before Christmas would be good to at least confirm that the deal with Volcanic was proceeding and that a MOU or similar was in place for the RTO. The SP might then react positively.

Agreed. The solid placing raised £2.2m and importantly in my view the directors fully participated. £1.3m is to fund the 10% farm-in in the Wressle Field. What is of importance for the company is that (as highlighted in the placing document), this will provide substantial, very near term cash flow from proven reserves at relatively low risk, low cost production. I note that the farm-in agreement is conditional on consent of the OGA to the transfer from Europa Oil & Gas, and on approvals being received from the local Council and the Environment Agency, but IMHO they can be reasonably expected to be forthcoming. Initial production of an estimated 50bbl/day net to UPL is expected early in 2017 with additional, contingent resources and further potential upside in connected fields. Also being acquired from EOG is a 10% interest in PEDL 182, which is the Broughton prospect which was previously drilled by BP who found oil. Broughton has estimated mean gross unrisked recoverable resources of 1.85 MMbo. In addition, UPL has a 25% interest (subject to OGA assignment approval) in Block SK46c, East Midlands, which includes the Hardstoft Oil Field, from which oil has been previously drilled. An independent CPR estimates there to be 3.10 MMbbl of contingent resource plus 3.65 MMbbl prospective resource in the broader Hardstoft structure alone, all sitting in Block SK46c and on a 'best' or central case basis it is further estimated that the chance of success for the contingent resource is 80% and 64% for the prospective resource - decent %ages. Based on an oil price of $50, UPL's interest in Hardstoft has a NPV of 2.68p per share! At $60, a NPV of 3.80p! (extracted from UPL's October presentation. The SP was up over 6% on Friday and I can see this heading past the previous high of 1.6p in no time at all. The mcap is just £5.4m.

Sorry Pomander, I should have looked at your posts before my post at 01.39. I realise now that you know an awful lot more than me about Regent and Plethora and I should have taken more care with my words referring to a business reorganisation. I hope all works out for you with Regent.

You may have seen this, but in case not, this is a recent presentation from Regent Pacific http://www.regentpac.com/ICMServlet/download/18-2084-3378/Regent%20Presentation_Nov16(a).pdf When I referred to their business reorganisation, I was just making reference to the statement in the presentation taken from their 2015 Interim Report that the Group is committed to divesting of non-core assets and investments to enable the Company to pursue growth and opportunistic investments in the life sciences sector. I have no idea whether Regent will hang on to the 22% holding it has in DBC. It is interesting that its investment does form part of this November presentation. I suppose they could hang on to their investment when DBC is reversed into LIFE. LIFE gave DBC a loan which is fully repayable on the earlier of 31 March 2017 or the date on which DBC secures additional equity funding of £1m. So that date is probably a deadline. To answer your question as to why it would take so long to get a formal offer document issued, my experience is that these matters do take a long time to arrange with so much due diligence to take place relating to the information to be provided in the prospectus and the large matter of the funding to be raised. I have investments in four companies at present which are either in the process of arranging an RTO or are cash shells with that in view and I have learnt that patience is required. I believe that they all have potential to at least double in price, which is why I hold them, but naturally the waiting game does not suit many investors. Sorry not to be able to be able to shed any more light on when we might expect the RTO to be concluded.

Good to see - just a matter of time. Do you think the two big sales were placing share sales as they do not appear to have affected the SP?

Dwayne thanks for highlighting the Podcast. Being new to Upland I'm very excited about the potential here and the Podcast spelt out excellent reasons for investing in the company. So there are updates to be expected regularly. Oil is expected to be in production in the first quarter of 2017 at Wressle in which Upland has a 10% interest and has seemingly been purchased at a sensible price. Also, we are at a time when we can reasonably expect the oil price to start to recover. The directors have put their money into the company and hold over 36% of the shares. I could go on but won't at present. DYOR as usual; it will be very worthwhile. What a good time now for investors to buy before the SP takes off.

As you will read from the bb, JM is presently involved with Regency Pacific, who own a share of DBC. I suspect that the Regency business reorganisation has to be sorted out first before he concentrates or indeed is able to deal with the RTO for LIFE. He has until 5 April 2017 and I suspect that it will not be until January/February that the RTO for LIFE will be arranged. It also gives DBC longer to become more established and of greater value when brought to the market via the RTO.

Now almost two months since the unsolicited offer for a major interest in BMV. Also I wonder what is happening with the copper concentrates business which is supposed to be producing positive cash flow since July. A DFS to come, maybe this month, on the Batangas Gold. Here's hoping for news this side of Christmas.

Barneyg - it would appear that the announcement of Beaufort Nominees reduction in holding from 32.5m shares to 10.14 m on 2 December would refer to the shares that Peterhouse owned because that was the number they owned after acquiring 30.5m from Robust Resources in October. See the RNS of 17 October. So I wonder who the 19.64% holding (being the reduction in their holding) has been transferred to. Will we see another RNS for a holding of more than 3% or have these shares been sold off market to Peterhouse clients?

The share has been up to 1.6p at its peak. Once it starts rising again, I would expect it to top that. How much higher after that will depend on further news flow and of course the extent that investors become aware of this company. We shall see.

Also for chartists, on the 10 minute and hourly charts the 10MA has just moved above the 30MA.

IMHIO with the placing successfully completed and with the directors having participated and therefore fully behind the company with their own money and with the mcap at just £5m, now seems to be a good time to buy before more investors become aware.

Thanks for your reply Infinityut. Perhaps it will become clearer tomorrow.

A lot of after hours trading. Note the large sale of £2.3m followed by a number of 'smaller' purchases at higher prices. What will the SP do tomorrow? Rebound to 360p initially? My long-term weekly chart starting from February 2014 has a 145p range and shows the SP could fall as far as 320p. IMHO any rebound provides a great opportunity for profit over the next 6 months. GLA.

That would be very nice. Don't wish to spoil your hopes and you may be proved to be right (I hope so), but if it were to rise to 5p, with 330m shares in issue after the CUL holders convert to shares, the company would have an mcap of £16.5m! Having bought at 1.1p, I would be happy with 2p, meaning an mcap of £6.6m, if my maths are correct.