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.
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/
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: