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Upland Resources (UPL) AI Stock Analysis

GB:UPL

Upland Resources

(LSE:UPL)

Select Model
Rating:46Neutral
Price Target:GBX 2.50â–¼(-14.53% Downside)
Action:reiterated
Date:10/01/26

The overall score is held down by very weak financial performance—no revenue, persistent losses, and negative cash flows in a high-risk, pre-production exploration phase—partly offset by a strengthened, debt-free balance sheet and neutral-to-mildly positive technical trends, while loss-driven, non-income-generating valuation keeps the risk profile elevated.

Positive Factors
Debt-free balance sheetThe absence of reported debt reduces interest and refinancing pressure, giving Upland greater financial flexibility than a leveraged operator. The recovery from negative equity to a positive capital base also provides a stronger platform for funding operations, although profitability still needs to follow.
Negative Factors
No reported revenueThe absence of reported revenue shows that the business has not yet demonstrated operating scale or a recurring commercial engine. Without a proven revenue base, financial performance remains highly dependent on future execution and funding, making sustained profitability difficult to establish over the medium term.

Upland Resources (UPL) vs. iShares MSCI United Kingdom ETF (EWC)

-20%-10%0%10%20%30%40%50%60%GB:UPL+15.84%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
GBP 50.50M
Dividend Yield
―
Average Volume (3M)
3.04M
Price to Earnings (P/E)
-29.3
Beta (1Y)
1.10
Revenue Growth
―
EPS Growth
-75.00%
Country
UK
Employees
0
Sector
Energy
Sector Strength
65
Industry
Oil & Gas Exploration & Production

Upland Resources Business Overview & Revenue Model

Company Description

Upland Resources Limited functions as a principal investment firm, primarily concentrating on acquiring stakes in existing oil and gas projects (farm-ins) and pursuing exploration licenses for undeveloped areas. The company strategically allocates ca...

How the Company Makes Money

Upland Resources primarily makes money by producing and selling fresh fruit bunches (FFB) from its oil palm plantations to palm oil mills or other buyers, with revenue driven by plantation output volumes and prevailing market prices for palm oil/FFB....

Upland Resources Financial Statement Overview

Summary

Financial performance is very weak, with zero revenue, persistent losses, and consistently negative operating and free cash flow, partly offset by a recapitalised, debt-free balance sheet that improves solvency but not profitability.

Income Statement

8Very Negative

Balance Sheet

40Negative

Cash Flow

12Very Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2021Jun 2020
Income Statement
Total Revenue000000
Gross Profit-1,1460-709-45400
EBITDA-1.42M-1.69M-1.23M―-275.08K-570.68K
Net Income-1.70M-1.70M-1.41M-1.44M-494.30K-789.89K
Balance Sheet
Total Assets6.85M6.85M4.00M1.34M312.71K766.32K
Cash, Cash Equivalents and Short-Term Investments1.80M1.80M350.06K654.72K305.53K757.99K
Total Debt0000150.00K150.00K
Total Liabilities179.59K179.59K267.03K673.49K571.16K530.47K
Stockholders Equity6.67M6.67M3.73M663.13K-258.45K235.84K
Cash Flow
Free Cash Flow-53.78K-53.78K-4.52M-1,174-490.18K-568.72K
Operating Cash Flow-28.78K-28.78K-4.52M-1.76M-490.18K-462.48K
Investing Cash Flow-846.15K-846.15K-262.13K-27.19K0-106.24K
Financing Cash Flow1.22M1.22M4.48M2.16M0587.90K

Upland Resources Technical Analysis

Technical Analysis SentimentNeutral
Last Price2.92

Price Trends

50DMA3.00Negative
100DMA2.98Negative
200DMA2.98Negative

Market Momentum

MACD-0.04Negative
RSI49.82Neutral
STOCH62.22Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:UPL, the sentiment is Neutral. The current price of 2.92 is above the 20-day moving average (MA) of 2.90, below the 50-day MA of 3.00, and below the 200-day MA of 2.98, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 49.82 is Neutral, neither overbought nor oversold. The STOCH value of 62.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:UPL.

Upland Resources Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

GB:UPL against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:CASPGB:CASP74OutperformGBP 44.77M3.4422.39%―――
Sector *65Neutral$15.17B7.614.09%5.20%3.87%-62.32%
GB:CHARGB:CHAR55NeutralGBP 99.25M54.89-3.94%―――
GB:JOGGB:JOG52NeutralGBP 38.38M-20.87-8.19%――-14.17%
GB:UPLGB:UPL46NeutralGBP 50.50M-29.25-25.54%――-75.00%
GB:ZPHRGB:ZPHR42NeutralGBP 66.17M21.086.50%―4.97%―
GB:ENWGB:ENW38UnderperformGBP 39.28M-7.78-4.22%―――

* Energy Sector Average

Performance Comparison

-50%0%50%GB:UPLGB:ENWGB:CASPGB:JOGGB:ZPHRGB:CHARDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GB:UPL and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:UPLUpland Resources2.920.3814.71%
GB:ENWEnwell Energy Plc12.25-4.75-27.94%
GB:CASPCaspian Sunrise1.90-0.25-11.63%
GB:JOGJersey Oil and Gas117.50-40.00-25.40%
GB:ZPHRZephyr Energy Plc3.150.5018.87%
GB:CHARChariot Oil & Gas3.281.5488.72%

Upland Resources Corporate Events

Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance

Upland Resources Releases Interim Financial Results for First Half of 2026

Neutral
Sep 25, 2026

Upland Resources Limited has published its interim financial results for the six-month period ended 30 June 2026, giving investors and stakeholders updated insight into the company’s performance and operational progress. The report, now availab...

Business Operations and Strategy

Upland Advances Wyoming Gas Pipeline as LSOG Development Enters Key Phase

Positive
Sep 25, 2026

Upland Resources has reported that construction is underway on Lost Soldier Oil & Gas’s eight‑inch gas sales pipeline in Wyoming, a key piece of infrastructure to move natural gas from the LSOG development to market. The pipeline buil...

Business Operations and StrategyPrivate Placements and Financing

Upland Resources Advances Wyoming Gas Drilling and Expands LSOG Strategic Funding

Positive
Sep 21, 2026

Upland Resources has announced the start of Phase Two of Lost Soldier Oil and Gas’ development programme in Wyoming’s Green River Basin, with the GMF-5 deep well spudded on 18 September and drilling expected to take about 60 days. The wel...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 26, 2026