NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN
This announcement is not an offer
for sale, or a solicitation of an offer to acquire, securities in
any jurisdiction, including in or into the United States, Canada,
Australia, or Japan. Neither this announcement nor any part
of it shall form the basis of or be relied on in connection with or
act as an inducement to enter into any contract or commitment
whatsoever.
28 March 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 5th
February
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/
SK334 Exploration: Progress Report & Next
Steps
· Drill
crew & Project teams identified, contracts under review.
· Onshore
drilling rig Inspection completed on 26th February 2024 at
Sviadnov, Czech Republic, as part of SK334 drilling rig selection
and operational preparation.
· Pre-drill
work programme developed for accelerated drilling programme.
·
Commencement of formal farm-out proceeding with interest from
strategics reviewed, shortlist now being finalised.
· Planning
& scheduling of anticipated works with PETROS.
·
Engagement on PSC work scope with PETROS.
Following a successful week spent in
Sarawak in March progressing and finalising the PSC framework, and
further to the announcement made on
5th February, Upland and PETROS are now in the final
stages of deliberations on the PSC award and framework.
Additionally, Upland acknowledges
the surrender of Offshore UK Licence P2478 to the UK North Sea
Transition Authority ("NSTA") on 31 March 2024, this is not
unexpected and was designated a non-core asset by the
company.
Bolhassan Di, Upland Chairman
and CEO commented:
"Full focus is now on our intended
high impact drill campaign onshore Sarawak. We look forward to
updating the market on the lead prospects for Block SK334 as well
as licencing and contracting arrangements in the coming weeks as we
scale up development on Block SK334 in Sarawak."
**ENDS**
For
further information, please contact: