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Upland Resources
(LSE:UPL)
Upland Resources (UPL) vs. iShares MSCI United Kingdom ETF (EWC)
Upland Resources Business Overview & Revenue Model
Upland Resources Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2021 | Jun 2020 | Jun 2019 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -709.00 | -454.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.23M | -1.21M | -275.08K | -570.68K | 2.68M |
| Net Income | -1.41M | -1.44M | -494.30K | -789.89K | -719.36K |
Balance Sheet | |||||
| Total Assets | 4.00M | 1.34M | 312.71K | 766.32K | 914.09K |
| Cash, Cash Equivalents and Short-Term Investments | 350.06K | 654.72K | 305.53K | 757.99K | 823.13K |
| Total Debt | 0.00 | 0.00 | 150.00K | 150.00K | 0.00 |
| Total Liabilities | 267.03K | 673.49K | 571.16K | 530.47K | 375.08K |
| Stockholders Equity | 3.73M | 663.13K | -258.45K | 235.84K | 539.00K |
Cash Flow | |||||
| Free Cash Flow | -4.52M | -1.17K | -490.18K | -568.72K | -546.34K |
| Operating Cash Flow | -4.52M | -1.17K | -490.18K | -462.48K | -475.42K |
| Investing Cash Flow | -262.13K | -27.19K | 0.00 | -106.24K | -70.92K |
| Financing Cash Flow | 4.48M | 2.16M | 0.00 | 587.90K | 304.87K |
Upland Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | £51.84M | -8.77 | 12.09% | ― | -58.10% | 100.00% | |
67 Neutral | £50.50M | -13.23 | 5.77% | ― | -54.53% | -64.24% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
53 Neutral | £72.47M | -1.44 | -50.13% | ― | -35.06% | -550.00% | |
47 Neutral | £39.27M | -1.36 | -31.73% | ― | -2.69% | -5.00% | |
46 Neutral | £46.37M | -3.73 | -47.49% | ― | ― | ― | |
44 Neutral | £42.79M | -16.69 | -6.84% | ― | ― | ― |
Upland Resources Corporate Events
Upland Resources has entered a bilateral options agreement with Lost Soldier Oil and Gas and its CEO Marc A. Bruner, giving Upland the right to invest up to US$9.5 million in the Lost Soldier Oil and Gas II Master Series tied to the Wild Mustang gas field in Wyoming. In return, Lost Soldier and Bruner receive options to subscribe for up to US$9.5 million of new Upland shares at 5 pence per share, aligning equity interests through to 2030.
The Wild Mustang project, in Wyoming’s Bison Basin, is described as a major recent U.S. natural gas discovery with estimated resources of about 6 Tcf and confirmed stacked pay zones, with phased development underway and first gas sales targeted around late 2026. The deal increases Upland’s economic exposure to the field by up to US$13.8 million, reinforces its role as the only publicly listed vehicle with direct exposure to Wild Mustang, supports its broader US$100 million strategic funding framework, and is timed alongside an application for quotation on the OTCQB market to broaden its investor base.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources has applied to have its ordinary shares quoted on the OTCQB Venture Market in the United States, while retaining its primary listing on the Main Market of the London Stock Exchange under the ticker UPL. The move is intended to expand the company’s profile in North America and make it easier for U.S. investors to trade its shares in U.S. dollars during local market hours.
The planned OTCQB quotation will function as a cross-trading facility without issuing new shares and is expected to become effective in about six weeks, subject to regulatory review. Management believes this dual-access structure will complement its London listing, deepen engagement with U.S. capital markets and energy-focused investors, and support its strategy of building a diversified portfolio in stable jurisdictions such as the Wild Mustang gas project in Wyoming.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources Limited has disclosed a series of director and senior management share subscriptions totaling 31,371,428 new ordinary shares at 3.5p each, raising £1,098,000 for the company. The purchases, made in London on 18 February by the chairman and CEO, several directors, the COO and the head of drilling, increase insider ownership and signal internal confidence in the company’s prospects to existing and potential shareholders.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources has strengthened its technical bench with the appointment of veteran petroleum geoscientist Dr Ngakan Alit Ascaria as a Technical Committee Member, effective immediately. With more than 35 years’ experience in exploration, basin analysis and reservoir characterisation across Southeast Asia, he brings deep expertise in play‑based exploration, prospect maturation and static reservoir modelling.
Dr Ascaria currently advises Indonesia’s Ministry of Energy and Mineral Resources and SKK Migas on exploration acceleration and licensing‑round block reviews, and is a senior lecturer at Institut Teknologi Bandung, underscoring his blend of academic and policy‑level influence. The board expects his regional insight and track record across Indonesia, Malaysia, Sarawak, Vietnam and wider Southeast Asia to materially enhance Upland’s technical capabilities and support its strategy of expanding a high‑impact onshore portfolio in the region.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources has signed a strategic Memorandum of Understanding with PT Pembangunan Aceh, the Aceh provincial government-owned energy and mineral investment authority, to collaborate on a feasibility and development plan for the MY1 and MY2 onshore blocks in Aceh, Indonesia. The agreement aligns Upland with the province’s devolved upstream governance structure and positions it within the prolific North Sumatra petroleum system, which hosts significant existing discoveries and infrastructure.
Under the MoU, Upland and PEMA will conduct a joint feasibility study covering technical, financial, legal and risk aspects, targeting production optimisation from existing fields in Block MY1 and high-impact exploration across both blocks. Preliminary internal assumptions envisage a phased development that could ramp up output to around 20,000 barrels of oil equivalent per day over five years, leveraging existing infrastructure, basin-scale exploration potential and a US$100 million funding commitment from strategic partner Lost Soldier Oil & Gas to support medium-term growth in Aceh.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources has raised approximately £2.0 million through a placing of 57,142,857 new shares at 3.5p, with £1.5 million subscribed by directors, executives and technical staff and £500,000 by strategic existing shareholders. The net proceeds will fund entry into two high-impact onshore licence opportunities in Borneo’s Kutei Basin and Northern Sumatra, cover performance guarantees, and support technical, regulatory and commercial workstreams as part of its Southeast Asia growth strategy.
The company has also secured a US$100 million strategic project funding commitment to advance these assets, materially strengthening its financial capacity to appraise and develop discovered and exploration resources. Together with three additional Borneo blocks, the moves significantly expand Upland’s regional footprint and are intended to position the small-cap explorer to scale rapidly toward mid-cap status within proven Southeast Asian petroleum systems.
The Kalimantan joint study area in the Kutei Basin is classified as a discovered resource opportunity, with regulator estimates of more than 500 million barrels of 2C oil in place and over 1.5 trillion cubic feet of 2C gas in place across a 4,000 km² block supported by extensive seismic data. The Northern Sumatra block targets part of an underexplored basin where independent analysis suggests yet-to-find resources above 9 billion barrels of oil equivalent, complementing Borneo holdings and enhancing portfolio diversification.
By aligning internal capital, external equity and large-scale project funding, Upland aims to fast-track appraisal, development and potential production from multiple Southeast Asian blocks. The strategy increases the company’s exposure to sizeable discovered and prospective resources, potentially reshaping its risk profile and offering greater leverage to regional oil and gas growth for shareholders if execution and regulatory approvals proceed as planned.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources has launched a £2 million equity placing at 3.5p per share to finance expansion of its onshore oil and gas portfolio in Southeast Asia, with £500,000 committed by strategic existing investors and around £1.5 million expected from directors, executives and technical staff. The strong insider participation highlights confidence in the company’s growth plan and provides working capital to support technical, commercial and regulatory work.
Proceeds will help secure interests in two high‑impact onshore licence opportunities in Indonesia’s Kutei and North Sumatra basins, including a discovered resource block in Kalimantan with significant oil and gas in place and a complementary underexplored block in Northern Sumatra. Together with three additional Borneo, Sarawak and Brunei blocks, these assets are intended to give Upland a larger, diversified regional footprint and accelerate its push toward mid‑cap status in the regional upstream sector.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources has secured a US$100 million strategic funding commitment from Wild Mustang Midstream, a subsidiary of Lost Soldier Oil and Gas II Master Series, to back its upstream oil and gas work across Southeast Asia between 2026 and 2030. The capital is earmarked for farm-in arrangements on targeted assets in Sarawak, Brunei and Indonesia, supporting a multi-year programme of up to 10 wells over more than 5 billion boe of gross unrisked prospective and 2C contingent resources, and deepens a strategic framework agreement that combines funding, technical collaboration and operational execution. By pairing Upland’s regional portfolio with Lost Soldier’s capital, drilling rigs and midstream infrastructure, the partnership is designed to significantly enhance Upland’s execution capacity, financial flexibility and competitive positioning as an emerging operator in a region where improving fiscal terms and strong demand are driving renewed interest in both unconventional and stacked conventional plays.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.
Upland Resources Limited has appointed veteran oil and gas executive Marc A. Bruner as Strategic Investment Advisor, bringing more than five decades of experience in founding and scaling major energy companies such as Ultra Petroleum, Pennaco Energy and Falcon Oil & Gas. Bruner, who is also CEO of Lost Soldier Oil & Gas and an indirect 6% shareholder in Upland, is expected to add strategic depth and execution capability as the company advances key projects and approaches important corporate and regulatory milestones in South East Asia and its targeted portfolio, aligning his interests closely with those of existing shareholders.
The most recent analyst rating on (GB:UPL) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Upland Resources stock, see the GB:UPL Stock Forecast page.