Business
Tunisia - One year extension and new prospectivity
Tunisia - One year extension and new prospectivity.
About this update from Upland Resources Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 2132M\n Upland Resources Limited\n 20 January 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN\n \n \n \n \n \n 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.\n \n \n \n \n \n \n \n \n 20 January 2021\n \n \n \n \n \n UPLAND RESOURCES LIMITED\n \n \n (\"Upland\" or the \"Company\")\n \n \n \n \n \n Tunisia update - One year extension and new prospectivity\n \n \n \n \n \n Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets in proven, mature south-east Asian and north African basins is pleased to report the following from its activities in the Tunisian Saouaf licence area ('Saouaf Permit') where the Company is currently engaged in a Joint Venture with the Tunisian National Oil Company ('ETAP'):\n \n \n \n \n \n Highlights:\n \n \n · \n The Saouaf Prospecting Permit duration will be extended for one year, expiring on 23 December 2022.\n \n \n · \n Detailed multidisciplinary interpretation of all vintage data has been completed and presented to ETAP, revealing a rich array of new plays and material prospectivity.\n \n \n · \n A 2021 work programme, including geochemical and geological studies, the reprocessing of vintage seismic lines and the acquisition of an additional 2D seismic survey, was submitted to ETAP at the Operating Committee Meeting ('OCM') held on 12 January 2021.\n \n \n \n \n \n The Company is pleased to report that it has been informed by the Direction Générale des Hydrocarbures of the Ministry of Industry, Energy and Mines that the Saouaf Prospecting Permit duration will be extended for one year, expiring on 23 December 2022, following a request submitted by the Company in August 2020. It is expected that further formal notification of this approval will be conveyed within the Official Gazette of the Republic of Tunisia.\n \n \n \n ...