Upland Resource Regulatory News (UPL)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

This announcement is an advertisement and not a prospectus. 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. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus dated 28 November 2016 (the "Prospectus") published by the Company in connection with the Placing and the Wressle Farm-ins.

1 December 2016

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Completion of Placing of 169,230,770 Placing Shares

Further to its announcement on 24 November 2016 of the proposed farm-ins to 10% interests in PEDLs 180 & 182 (including the Wressle Field) (the "Wressle Farm-ins") and the proposed placing of 169,230,770 new shares of no par value in the Company at 1.3p per share (the "Placing") to raise £2.2 million (before expenses), Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that the Placing was completed on admission of all the Placing Shares to listing on the UK Listing Authority's Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission") which became effective at 8.00 am today.

- Directors' participation

All of the Directors participated in the Placing and subscribed for an aggregate of 64,769,230 Placing Shares for aggregate £842,000 in cash (at the placing price of 1.3p per share), further details of which are set out in Part IX (The Placing) of the Prospectus.

Total Voting Rights

Following Admission, the Company has 383,168,631 shares of no par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 383,168,631. This figure of 383,168,631 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.

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Notes

Upland is an upstream oil & gas company whose highly experienced management has a track record of creating major value for shareholders in junior oil & gas companies, including Cove Energy plc. The Company has extensive technical and commercial skills and contacts, management having held senior roles in Petronas, Conoco, Shell etc. Upland is taking advantage of the current market conditions to acquire quality upstream assets on attractive terms.