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Upland Resources Limited announced on July 22, 2024, that it became aware of a July 20, 2024, Petros news item stating plans for technical work on Block SK334 to prepare it for competitive bidding. Following a Joint Technical Study completed in December 2023, Upland has been in communication for several months with the Sarawak government and Petros, pursuing exclusive participation in a production sharing arrangement for Block SK334.
| Date | 22 Jul 2024 |
| Time | 15:35:00 |
| Category | Miscellaneous |
| ID | 3388X |
22nd July 2024
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Petros Article of July 20th 2024
The Company has become aware that Petros, the state oil company of Sarawak, have posted a news item on their website entitled "REJUVENATING AND UNLOCKING SARAWAK'S ONSHORE HYDROCARBON POTENTIAL" which can be accessed by the link below:
This article notes that Petros is planning technical work on Block SK334 to enable Petros to offer onshore Block SK334 for competitive bidding to all interested investors.
Following the completion of the Joint Technical Study in December 2023 the Company has been in communication for some months with the Sarawak government and Petros pursuing the Company's interest to participate exclusively in a production sharing arrangement in respect of Block SK334. We are in continuing communication with the Sarawak State Government, the final authority for awards of Petroleum Sharing Contracts for Sarawak Onshore Assets.
We will inform the market further in due course.
For further information, please contact:
|
Upland Resources Limited Bolhassan Di Chairman and CEO Gerry Murray COO Albert May CCO |
Tel: +60 198 861919
|
**ENDS**