Upland Resources Limited Wressle Update: EA Mining Waste Permit Variation (5922F)

TIDMUPL

RNS Number : 5922F

Upland Resources Limited

19 May 2017

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Wressle Update: Issue of EA Mining Waste Permit Variation

Upland Resources Limited, the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to note the issue by the Environment Agency of the variation to the Mining Waste Permit for the planned Wressle Field development and associated operations.

The permit is a key regulatory approval in the proposed development of the Wressle Field and lends support to the new Planning Application submitted by Egdon Resources ("Egdon" or the "Operator") on 28 April 2017. Validation of this Application is expected in the coming weeks.

Upland's wholly-owned subsidiary, Upland Resources (UK Onshore) Limited ("Upland UK"), entered into a conditional agreement dated 24 November 2016 for the farm-in by Upland UK (by way of assignment from Europa Oil & Gas Limited) to a 10% interest in each of petroleum exploration and development licences ("PEDLs") 180 and 182, including the Wressle Field development (the "Wressle Farm-in Agreement"). Completion of the Wressle Farm-in Agreement is conditional on receipt of certain planning and other approvals which may be waived at Upland's discretion.

Steve Staley, Upland Resources CEO, commented:

"We are very pleased to see this validation of the proposed Wressle development by the Environment Agency. This represents another significant step toward the start of production there."

**Ends**

Contact details:

 
 Upland Resources Limited                           www.uplandres.com 
 Steve Staley, CEO                             s.staley@uplandres.com 
 Optiva Securities Limited                   www.optivasecurities.com 
 Jeremy King (Corporate                      Tel: +44 (0)20 3137 1904 
  Finance)                           jeremy.king@optivasecurities.com 
 Christian Dennis (Corporate                 Tel: +44 (0)20 3411 1882 
  Broker)                       christian.dennis@optivasecurities.com 
 FTI Consulting 
 Edward Westropp                             Tel: +44 (0)203 727 1521 
                                    edward.westropp@fticonsulting.com 
 Flowcomms Ltd 
 Sasha Sethi                                        Tel: 07891 677441 
                                                  sasha@flowcomms.com

Notes

Upland is an upstream oil & gas company whose highly experienced management has a track record of creating major value for shareholders in junior oil & gas companies, including Cove Energy plc. The Company has extensive technical and commercials skills and contacts, management having held senior roles in Petronas, Conoco, Shell etc. Upland is taking advantage of the current market conditions to acquire quality upstream assets on attractive terms.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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