Upland Resources Ltd - London-based oil and gas company - Says suspension from trading ends. In addition, says 3D seismic reprocessing is currently ongoing at IMF 2478, the Inner Moray Firth licence. "The technical work presently being carried out work for on IMF 2478 is intended to mature the Dunrobin prospect ahead of a potential drilling decision and or engagement with potential drilling partners," Upland adds. "Well costs are expected to be modest as the prospect lies in shallow water of less than 100 metres and the total drilling depth of the well is prognosed to be approximately 660 metres." On Tunisian Saouaf licence, company says progressing farm-out efforts are priority. Upland it is in process of restructuring management team.
Current stock price: 0.24 pence, down 13%
12-month change: down just under 100%
By Eric Cunha; ericcunha@alliancenews.com
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Upland Resource (UPL)