Termination of Farm Out Agreement

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.

 

 

18 November 2022

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

Termination of Farm Out Agreement

 

As provided in their Farm-Out Agreement announced on 21 July 2022 (the Agreement) UPL (Saouaf) Limited and Upland (N Tunisia) Limited, wholly-owned subsidiaries of the Company, have given  Nobel Petroleum USA Inc and  Pennpetro Energy plc seven (7) days notice of termination of the Agreement.

The long stop date has passed without certain conditions contained in the Agreement having been fulfilled.

 

On 21 October 2022, Upland (Saouaf) Limited applied to renew the Saouaf Permit until 22 December 2023. The application is under consideration.

 

*ENDS*

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

 

Upland Resources Limited Bolhassan Di, Non-Executive Chairman and CEO	Tel: +60 198 861 919   bolhassan@uplandres.com www.uplandres.com
Optiva Securities - Broker	Tel: _+44 (0)20 3137 1903
Christian Dennis (Corporate Broker)	christian.dennis@optivasecurities.com www.optivasecurities.com

Flowcomms - IR Contact  Sasha Sethi

Tel: +44 (0)7891 677441 sasha@flowcomms.com