25th
July 2024
UPLAND RESOURCES
LIMITED
("Upland" or the
"Company")
SK334 Petroleum Sharing
Contract
Further to the recent RNS, Upland
reiterates, the Company has been in communication with the Sarawak
State Government, the final authority for Onshore O&G Assets in
Sarawak, to secure an interest in a production sharing contract on
Block SK334.
Government
Announcement
Block SK334 "Petros is wrapping up a
Joint Technical Study and we are looking forward to the potential
drilling of an exploration well in 2025" (11th October
23).
In preparation for this, following
the completion of the Joint Technical Study, Upland has advanced
its preparations to deliver an exploration drilling programme to
meet this announcement.
Following its application for an
exclusive award with the Government and Petros the Company has
built an experienced team, made up of local and international
experts, who are ready to commence operations on Block
SK334.
Joint Technical
Study
In the terms and conditions of the
signed Joint Technical Study Agreement between Upland and Petros,
and as a medium-term strategy, Upland has certain unique advantages
over other potential bidders in a competitive bidding
process.
Joint Venture and Funding
Partners
Additionally, Upland has identified
potential partners for funding and operatorship of the SK334
Production Sharing Contract as a long-term strategy.
For more detailed information,
please visit the following links:
https://upland.energy/team-for-drill-campaign/
https://upland.energy/wp-content/uploads/2024/06/SK334-Progress-Report-June-24.pdf
We will inform the market further in
due course and look forward to meeting shareholders at the
Company AGM on Tuesday 30th 2024.
For
further information, please contact:
**ENDS**