REG - Upland Resources Ltd - Operational Update

Upland ResourcesAnnouncement

09/05/2025 14:00

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RNS Number : 1239I  Upland Resources Limited  09 May 2025

For immediate release

9 May 2025

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Upland Resources Advances Opportunities in Brunei and Malaysia

London, UK - Upland Resources Limited (LSE: UPL) is pleased to report progress
in advancing its hydrocarbon development initiatives across Southeast Asia.

Onshore Brunei - Block L

On 8 May 2025, following a period of technical review by Upland Resources Ltd,
the Company received formal acknowledgment of receipt of its interest to enter
into a production sharing contract in respect of Block L from the Petroleum
Authority of Brunei (PAB), Block L is located in the East of Brunei across the
border from Block SK334 in Sarawak. The Company cannot at this stage provide
any estimates of how long the Brunei authorities will take to review the
Company's interest. The company is encouraged by recent engagement, however
there is also no certainty that the Company's application will be
successful.

                           Fig 1 Regional O&G
map Brunei/Sarawak

 

 

Brunei 2025 Offshore Blocks (shallow water) bidding round

On 9 May 2025, Upland Big Oil, the joint venture vehicle in which Upland
Resources holds a 45% stake received notification that Upland Big Oil had been
successfully shortlisted for the Brunei 2025 Offshore Blocks (shallow water)
bidding round organised by the Petroleum Authority of Brunei (PAB).
https://www.pa.gov.bn/brunei-offshore-licensing/
(https://www.pa.gov.bn/brunei-offshore-licensing/) aimed to unlock the
remaining hydrocarbon potential of the area. We are pleased that the PAB is
considering Upland on these awards which is recognition for the technical
capabilities we have built up in Upland Big Oil and the efforts we have made
to build relationships in Brunei.

Partnership advancements Sarawak - Brunei

As part of its strategic development activities, the Upland team will be in
Kuala Lumpur next week led by the Chairman to participate in a technical and
commercial workshop over three days with a prospective partner for onshore
development in the region. Key participants in the workshop will include,
Professor Andrew Hurst, Dr. Razak Damit, Thomas Nyanat, Gerry Murray and
members of the extended Sarawak, Block SK334 Joint Technical Study Team.
Following the Kuala Lumpur engagement, select team members including the
Chairman have planned to travel to Brunei to continue discussions with a key
Brunei-based stakeholder in preparation for potential collaboration in the
region.

Rig & Drill Crew

The company is working closely with our partners Vanguard Drilling Energy
Services, partnership agreements with NRG Well Management and Huisman Drilling
remain firmly in place.

Upland Resources remains committed to building a meaningful presence in
Southeast Asia through disciplined growth, robust technical planning, and
long-term collaboration with local partners and stakeholders.

Bolhassan Di, Upland Chairman and CEO commented:

The company is greatly encouraged by the recent development in Malaysia and
Brunei. Considerable effort has been made by the entire team. We look forward
to updating the market appropriately on developments which have been years in
the making.

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)
 Dillon Anadkat

                                 dillon.anadkat@oak-securities.com (mailto:dillon.anadkat@oak-securities.com)

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

 

 

END

 

 

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