REG - Upland Resources Ltd - Execution Of Binding Contracts - Vanguard Drilling

Upland ResourcesAnnouncement

24/10/2025 14:15

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RNS Number : 7941E  Upland Resources Limited  24 October 2025

 

Upland Resources Limited

(LSE: UPL)

RNS Announcement

Date: 24(th) October 2025

Execution of Binding Contracts - Vanguard Drilling Asset Acquisition

Upland Resources Limited ("Upland" or the "Company") is pleased to announce
that it has executed binding contracts in relation to the acquisition of
Vanguard Drilling Limited's ("Vanguard") proprietary intellectual property,
advanced drilling management systems, and integration of select senior
personnel.

The transaction, first announced on 1 October 2025, includes:

·      Acquisition of the Vanguard Business Management System
(VBMS) and Mission Control Project Management Software;

·      Integration of select senior drilling specialists, engineers and
project leaders from Vanguard into Upland's flagship projects, as required.

·      Appointment of Josh Galloway, Chief Executive Officer of
Vanguard, as Head of Drilling Services to lead Upland Borneo Drilling
Services (UBDS) under Upland Big Oil.

The execution of these contracts formalises Upland's enhanced operational
capability, operator readiness, and scalability across Southeast Asia. UBDS
will serve as a regional hub for both internal projects and third-party
services, supporting Upland's growth strategy and licencing participation.

Chairman's Comment - Datuk Bolhassan Di:

"Signing these binding contracts marks a significant milestone for Upland.
Engagement is already underway across Borneo, underscoring the Company's
commitment to rapid and disciplined execution. These agreements further
strengthen Upland's operational capabilities and position the Company to
deliver projects to the highest international standards, while advancing our
strategic objectives with confidence and momentum."

 

Further Information

Please see the link below outlining some of the Group capabilities

 

https://upland.energy/drilling-services/
(https://upland.energy/drilling-services/)

 

 

For further information, please contact:

 

 Upland Resources Limited                                                                                           Tel: +60 198 861919
 Bolhassan Di, Chairman and CEO                                                                                     bolhassan@uplandbigoil.com.my (mailto:bolhassan@uplandbigoil.com.my)

 Gerry Murray, COO                                                                                                  gerry.murray@upland.energy (mailto:gerry.murray@upland.energy)

                                                                                                                    www.upland.energy (http://www.upland.energy)
 OAK Securities - Broker                                                                                            Tel: +44 (0)20 3973 3678
 Jerry Keen                                                                                                         jerry.keen@oak-securities.com (mailto:jerry.keen@oak-securities.com)

 Henry Clarke                                                                                                       h (mailto:henry.clarke@oak-securities.com) enry.clarke@oak-securities.com

                                                                                                                  (mailto:henry.clarke@oak-securities.com)

                                                                                                                  www.oak-securities.com (http://www.oak-securities.com)

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