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SK334 Joint Technical Study Workshop Update
SK334 Joint Technical Study Workshop Update.
About this update from Upland Resources Ltd
[{"type":"text","content":"\n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN\n \nThis 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.\n\n23 August 2023\n \nUPLAND RESOURCES LIMITED\n(\"Upland\" or the \"Company\")\n \nSK334 Joint Technical Study (JTS) Technical Workshop Update\nUpland Resources Limited (LSE: UPL) is pleased to announce that the planned Technical Workshop for the Joint Technical Study (JTS) on Block SK334, Onshore Sarawak was successfully conducted with Sarawak's state oil company Petroleum Sarawak Berhad (PETROS) in conjunction with Upland's joint venture partner in Sarawak, Big Oil Ventures sdn bhd (together \"Upland Big Oil\" or \"UBO\") on 17th August 2023.\n \nHighlights\n \n· Focus now on Production Sharing Contract phase with PETROS \n· Preliminary volumetric resource estimates assessed and exceeding expectations\n· Identification of prospective drill targets on Block SK334 and presentation of proposed exploration strategy\n \nFinal reports for FTG modelling, lab test result and findings for fieldwork samples, and seismic reprocessing & conditioning results were presented to PETROS. Prospect maps and preliminary resource estimates were assessed and deliberated with PETROS with results exceeding expectations.\n \nThe proposed prospecting strategy and work commitment for a Production Sharing Contract over Block SK334 Contract were presented to PETROS and received positive and encouraging feedback.\n \nIn summary, PETROS have indicated to the Joint Venture Partners that they were pleased with the progress of the JTS. The JTS team is confident that all scope of works for the JTS will be completed on-time and on-budget.\n \nProfessor Andrew Hurst, Upland Technical Director commented:\n \n\"To date progress on Block SK334 has been excellent - high-quality work on-time and on-budget. Continued engagement with the UBO team has demon...