REG - Upland Resources Ltd - Approval to Trade on the OTCQB Venture Market

Upland ResourcesAnnouncement

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RNS Number : 0459X  Upland Resources Limited  18 March 2026

For Immediate Release

Upland Resources Limited

("Upland" or the "Company")

Approval to Trade on the OTCQB Venture Market

Trading commences 18 March 2026 under ticker UPLLF

 

Upland Resources Limited (LSE:UPL, OTCQB: UPLLF) the upstream oil and gas
company focused on the development of high-impact assets across Southeast
Asia, is pleased to announce that its application for the Company's ordinary
shares to be quoted on the OTCQB Venture Market ("OTCQB") in the United
States, operated by OTC Markets Group Inc., has been approved. Trading will
commence on 18 March 2026 under the ticker symbol UPLLF. The Company's
ordinary shares will continue to trade on the Main Market of the London Stock
Exchange under the ticker UPL.

Key Elements:

•      OTCQB Venture Market approval received. Trading commences 18
March 2026 under the symbol UPLLF.

•      US investors will be able to trade Upland shares in US dollars
during US market hours for the first time.

•      The OTCQB quotation operates as a cross-trading facility with
the LSE during US trading hours.

•      Upland provides a liquid, publicly traded means of gaining
exposure to the Lost Soldier Oil and Gas project and the Wild Mustang Federal
Unit.

The OTCQB is a US venture-stage market operated by OTC Markets Group Inc. The
Directors believe the quotation will complement the Company's existing LSE
listing, broaden its North American investor base, and provide a more
accessible route for US investors to gain exposure to Upland's portfolio.

Strategic Context

The OTCQB approval provides Upland with a dedicated US trading venue at a
significant point in the Company's development. The Company is engaged in
active discussions regarding a number of high-impact upstream licence
opportunities across Southeast Asia, supported by the US$100 million Strategic
Funding Commitment from Lost Soldier Oil and Gas, and expects to make further
announcements as these workstreams advance. Through its partnership with Lost
Soldier, Upland also holds a participation interest in the Wild Mustang
Federal Unit in Wyoming, potentially one of the largest new gas fields in the
United States, targeting first commercial gas sales in Q4 2026.

The Directors believe the OTCQB positions Upland to engage a wider North
American investor audience as the Company moves toward the announcements that
will define its next phase of growth. The concurrent fundraising from US-based
investors, announced yesterday, reflects the early momentum that access to
this market is already generating.

The OTCQB approval builds on the Framework Agreement announced on 24 November
2025 and the US$100 million Strategic Funding Commitment announced on 23
January 2026.

US$100m Strategic Funding Commitment - Upland
(https://upland.energy/us100m-strategic-funding-commitment/)

Management Commentary

Bolhassan Di, Chairman and CEO of Upland Resources Limited, commented:

"The OTCQB approval reflects growing international recognition of what Upland
is building. Our strategic focus is Southeast Asia, and the Wild Mustang
project demonstrates the quality of the partnership underpinning that
ambition. Today's announcements - a new US trading venue give us an excellent
platform from which to advance."

 

For further information, please contact:

 Upland Resources Limited               Tel: +60 198 861919
 Bolhassan Di, Chairman and CEO         bolhassan@upland.energy
 Gerry Murray, COO                      gerry.murray@upland.energy (mailto:gerry.murray@upland.energy)
 Josh Galloway, Head of Drilling        josh.galloway@upland.energy (mailto:josh.galloway@upland.energy)
                                        www.upland.energy (http://www.upland.energy)
 Hill Dickinson LLP - Legal Advisers    Tel: +44 (0)20 7283 9033
 20 Primrose Street, London, EC2A 2EW.

 

Wild Mustang gas field - Direct investment

 

The Wild Mustang gas field in central Wyoming, operated by Lost Soldier Oil
and Gas, is an emerging natural-gas development located within the Wild
Mustang Federal Unit in the Bison Basin, a sub-basin of the prolific Green
River Basin north of Rawlins. The project is regarded by the company as one of
the largest natural gas discoveries in the western United States in several
decades, with estimates suggesting resources of around 6 trillion cubic feet
(Tcf) of gas. Exploration drilling-particularly the Green Mountain #4
discovery well and the Found Soldier #1 appraisal well-has confirmed
approximately 3,400 ft of stacked gas-bearing pay zones across multiple
reservoirs, indicating significant vertical and lateral resource potential.
Development is progressing through a phased program that includes additional
drilling, horizontal well planning, and the construction of midstream
infrastructure to bring gas to market.

 

A key step is the installation of a 5.3-mile connector pipeline linking the
field to existing regional pipeline networks capable of transporting roughly
400 MMcf/d, with first commercial gas sales targeted around Q4 2026 depending
on regulatory approvals and infrastructure completion. In parallel, Lost
Soldier has assumed full operational control of the federal unit and is
advancing annual development plans, further drilling campaigns, and studies
for a gas-processing facility, positioning the Wild Mustang project for
gradual scale-up toward large-volume production later in the decade.

 

Inside Information (UK MAR)

This announcement contains inside information for the purposes of Article 7 of
the UK Market Abuse Regulation (EU) No. 596/2014, which forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
This information is disclosed in accordance with the Company's obligations
under Article 17 of UK MAR.

 

FCA and Prospectus Disclaimer

This announcement does not constitute, and should not be construed as, a
prospectus, admission document or offering memorandum, nor an offer to sell or
the solicitation of an offer to buy any securities in the Company. No
securities of the Company are being offered pursuant to this announcement.
This announcement has not been reviewed or approved by the Financial Conduct
Authority or any other regulatory authority.

 

Forward-Looking Statements

This announcement includes forward-looking statements, including statements
relating to prospective resources, exploration and appraisal programmes,
drilling plans, funding availability, farm-in arrangements, regulatory
outcomes and future operations. Forward-looking statements are based on
current expectations, assumptions and estimates and involve risks and
uncertainties that could cause actual results or developments to differ
materially from those expressed or implied.

Forward-looking statements are not guarantees of future performance. Factors
that could cause actual outcomes to differ materially include, but are not
limited to, licence awards, regulatory approvals, subsurface risk, commodity
price volatility, operational risks, availability of capital, counterparty
performance and changes in fiscal or governmental regimes. The Company
undertakes no obligation to update any forward-looking statements except as
required by applicable law or regulation.

 

END

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