REG - Upland Resources Ltd - Strategy/Company/Ops Update

Upland ResourcesAnnouncement

05/02/2024 07:00

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RNS Number : 9443B  Upland Resources Limited  05 February 2024

 

 

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5th February 2024

 

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

Block SK334 Monthly Update

 

Upland Resources Limited (LSE: UPL) is pleased to announce-further to the
update on 22 January

2024 in relation to the Sarawak Block SK334 exploration campaign 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

 

·      Pre-drill activities have been identified and a Pre-drill work
program has been developed to allow early commencement of activities and
expedite the drilling program.

·      Commencement of formal preparation and oversight of farm-out
proceeding and review of strategic interest.

·      Positive feedback received from PETROS 'a good quality JTS
report' and 'very good work done', and conformation of submission within JTS
timeline.

·      The JTS outcome and recommendation on the exploration work
program was well received by PETROS.

·      Planning & scheduling anticipated works plus engagement on
PSC work scopes with PETROS.

 

 

 

·      Notional Field Development Plan: Progressing with the notional
field development plan and production profile.

·      Resource Estimates: Methodologies for Volumetric Resource
estimates were deliberated and agreed with PETROS, structural overview of lead
prospect Santubong to be prepared and shared.

·      Rig selection, well design, rig crew selection, in progress.

 

 

 

Bolhassan Di, Upland Chairman and CEO commented:

 

"We are advancing in our exploration work program at pace guided by the
results of a successful joint technical study with PETROS. Having successfully
completed our geological and geophysical works, our focus is now firmly on
strategically advancing the SK334 block and preparation for exploration
activities.

 

Additionally, we look forward to updating shareholders with a structural
overview of our lead prospect Santubong, which sits above the prolific Belait
sandstone reservoirs, onshore Sarawak.

 

With contracting & exploration work scopes in flow, we look forward to
keeping shareholders abreast of what is a busy yet transformational period for
the company"

**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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