Business
Operational Update
Operational Update.
About this update from Upland Resources Ltd
[{"type":"text","content":"\n\nFor immediate release\n9 May 2025\n \nUPLAND RESOURCES LIMITED\n(\"Upland\" or the \"Company\")\nUpland Resources Advances Opportunities in Brunei and Malaysia\nLondon, UK - Upland Resources Limited (LSE: UPL) is pleased to report progress in advancing its hydrocarbon development initiatives across Southeast Asia.\nOnshore Brunei - Block L\nOn 8 May 2025, following a period of technical review by Upland Resources Ltd, the Company received formal acknowledgment of receipt of its interest to enter into a production sharing contract in respect of Block L from the Petroleum Authority of Brunei (PAB), Block L is located in the East of Brunei across the border from Block SK334 in Sarawak. The Company cannot at this stage provide any estimates of how long the Brunei authorities will take to review the Company's interest. The company is encouraged by recent engagement, however there is also no certainty that the Company's application will be successful. \n\n Fig 1 Regional O&G map Brunei/Sarawak\n \n \nBrunei 2025 Offshore Blocks (shallow water) bidding round\nOn 9 May 2025, Upland Big Oil, the joint venture vehicle in which Upland Resources holds a 45% stake received notification that Upland Big Oil had been successfully shortlisted for the Brunei 2025 Offshore Blocks (shallow water) bidding round organised by the Petroleum Authority of Brunei (PAB). https://www.pa.gov.bn/brunei-offshore-licensing/ aimed to unlock the remaining hydrocarbon potential of the area. We are pleased that the PAB is considering Upland on these awards which is recognition for the technical capabilities we have built up in Upland Big Oil and the efforts we have made to build relationships in Brunei.\nPartnership advancements Sarawak - Brunei\nAs part of its strategic development activities, the Upland team will be in Kuala Lumpur next week led by the Chairman to participate in a technical and commercial workshop over three days with a prospective partner for onshore development in the region. Key participants in the workshop will include, Professor Andrew Hurst, Dr. Razak Damit, Thomas Nyanat, Gerry Murray and members of the extended Sarawak, Block SK334 Joint Technical Study Team...