REG - Upland Resources Ltd - Market Speculation

Upland ResourcesAnnouncement

25/07/2024 08:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240725:nRSY8178Xa&default-theme=true

RNS Number : 8178X  Upland Resources Limited  25 July 2024

25th July 2024

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

 

SK334 Petroleum Sharing Contract

 

 

Further to the recent RNS, Upland reiterates, the Company has been in
communication with the Sarawak State Government, the final authority for
Onshore O&G Assets in Sarawak, to secure an interest in a production
sharing contract on Block SK334.

 

Government Announcement

Block SK334 "Petros is wrapping up a Joint Technical Study and we are looking
forward to the potential drilling of an exploration well in 2025" (11(th)
October 23).

 

In preparation for this, following the completion of the Joint Technical
Study, Upland has advanced its preparations to deliver an exploration drilling
programme to meet this announcement.

 

Following its application for an exclusive award with the Government and
Petros the Company has built an experienced team, made up of local and
international experts, who are ready to commence operations on Block SK334.

 

Joint Technical Study

In the terms and conditions of the signed Joint Technical Study Agreement
between Upland and Petros, and as a medium-term strategy, Upland has certain
unique advantages over other potential bidders in a competitive bidding
process.

 

Joint Venture and Funding Partners

Additionally, Upland has identified potential partners for funding and
operatorship of the SK334 Production Sharing Contract as a long-term strategy.

 

For more detailed information, please visit the following links:

 

https://upland.energy/team-for-drill-campaign/
(https://upland.energy/team-for-drill-campaign/)

 

https://upland.energy/wp-content/uploads/2024/06/SK334-Progress-Report-June-24.pdf
(https://upland.energy/wp-content/uploads/2024/06/SK334-Progress-Report-June-24.pdf)

 

We will inform the market further in due course and look forward to meeting
shareholders at the Company AGM on Tuesday 30th 2024.

 

 

For further information, please contact:

 

 Upland Resources Limited    Tel: +60 198  861919

 Bolhassan Di                bolhassan@uplandbigoil.com.my (mailto:bolhassan@uplandbigoil.com.my)

 Chairman and CEO

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

 Albert May CCO              albert.may@upland.energy

                             www.upland.energy (http://www.upland.energy)

 

**ENDS**

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAXXSAEFLEEA