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LONDON (Alliance News) - Upland Resources Ltd said Wednesday that it gained approval for a licence application from the Hydrocarbon Consultative Committee of the Tunisian Government.
The company received the approval for an exclusive licence for hydrocarbon exploration and appraisal in onshore northern Tunisia covering "attractive open acreage".
"The company believes there is the potential for very substantial quantities of recoverable gas within the permit area," Upland said.
Upland will act as operator and hold a majority stake in the permit.
Shares in the company were trading up 4.2% at 3.49 pence each on Wednesday.
