REG - Upland Resources Ltd - September JTS Summary

Upland ResourcesAnnouncement

20/10/2023 07:00

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RNS Number : 7252Q  Upland Resources Limited  20 October 2023

 

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20 October 2023

 

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

September JTS Summary

 

Upland Resources Limited (LSE: UPL) is pleased to announce that further to the
update on 15 September 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

 

·      Proposal for SK334 PSC submitted and received positively by
PETROS on the 20 Sept 2023

·      Finalised Prospecting Strategy in Limbang and Lawas. Prepared
exploration work programme for PSC exploration period in 2024

·      Conceptual Engineering: conducted and finalised based on
available regional data

·      Completion of Reservoir Engineering: well engineering, field
development plan and hydrocarbon export plan

·      Rig Selection: Rig selection process in progress

 

Drafting of JTS Technical Report is expected to be completed by early Nov
2023. The draft copy will be sent to PETROS for review, before presenting in
the final Technical Workshop, expected in the 3rd week of Nov 2023.

Assessment of Potential Targets: Evaluation of potential drilling targets in
the SK334 frontier exploration area is actively evaluating Full Tensor Gravity
(FTG) data in combination with data from geological field work, along the
eastern flank of the Lavas area.

 

 

 

 

Bolhassan Di, Upland Chairman and CEO commented:

 

"This has been and is a busy period for the Company across a number of fronts.
Having successfully completed our geological and geophysical works, our focus
is now firmly on the SK334 Production Sharing Contract with PETROS. The fact
that our PSC application has been positively received by the regulator is
welcomed as we continue on a precise pathway. In addition, we look forward to
the final JTS Technical workshop in November.

 

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

 

Joint Technical Studies Timeline

 

**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)

 Gerard Murray, COO               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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