REG - Upland Resources Ltd - August JTS Summary

Upland ResourcesAnnouncement

15/09/2023 07:00

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RNS Number : 5055M  Upland Resources Limited  15 September 2023

 

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15 September 2023

 

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

August JTS Summary

 

Upland Resources Limited (LSE: UPL) is pleased to announce that further to the
update on 23 August 2023 in relation to the Sarawak Block SK334 Joint
Technical Study (JTS) Technical Workshop that the current monthly shareholder
progress report is now accessible on the Company's website at the following
link:

 

https://upland.energy/presentations/ (https://upland.energy/presentations/)

 

 

Highlights & Forward Plan

 

·      Field Development Plan: Progressing with the notional field
development plan in collaboration with PETROS.

·      Field Development Planning: Concept Select Field Development
planning with PETROS downstream/facilities division
to discuss SK334 field development scheduled early October.

·      Resource Estimates: Methodologies for Volumetric Resource
estimates deliberated and agreed with PETROS, in process of final completion.

·      Rig Selection: Rig selection process in progress.

·      Future Exploration Plans: Developing prospecting
and exploration strategies in Limbang area as part of SK334 Petroleum
Sharing Contract (PSC) preparation.

·      Petroleum Economics Studies: Now progressing with the Petroleum
Economics studies.

·      Assessment of Potential Targets: Actively evaluating Full Tensor
Gravity (FTG) data and geological field-work results to assess additional
potential targets on the eastern flank of Block SK334 (Lawas area).

 

 

 

 

 

Bolhassan Di, Upland Chairman and CEO commented:

 

"Having successfully completed our geological and geophysical works, our focus
is now firmly on the SK334 Production Sharing Contract with PETROS.

 

We look forward to engaging with the PETROS downstream and facilities
division, identifying key hydrocarbon export channels and critical
infrastructure available to Block SK334.

 

Additionally, we are encouraged by sustained interest from external parties
who wish to collaborate on SK334's PSC.

 

We will continue to deliver further on these workstreams in the near term and
remain committed to keeping our investors well-informed."

 

**ENDS**

 

For further information, please contact:

 

 Upland Resources Limited         Tel: +60 198 861 919

 Bolhassan Di, Chairman and CEO   bolhassan@uplandbigoil.com.my (mailto:bolhassan@uplandbigoil.com.my)

                                  gerry.murray@upland.energy (mailto:gerry.murray@upland.energy)

 Optiva Securities - Broker       Tel:  +44 (0)20 3137 1903

                                christian.dennis@optivasecurities.com
 Christian Dennis                 (mailto:christian.dennis@optivasecurities.com)
 (Corporate Broker)

                                  www.optivasecurities.com (http://www.optivasecurities.com/)

 

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