Upland Resource Regulatory News (UPL)

25th July 2024

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

SK334 Petroleum Sharing Contract

Further to the recent RNS, Upland reiterates, the Company has been in communication with the Sarawak State Government, the final authority for Onshore O&G Assets in Sarawak, to secure an interest in a production sharing contract on Block SK334.

Government Announcement

Block SK334 "Petros is wrapping up a Joint Technical Study and we are looking forward to the potential drilling of an exploration well in 2025" (11th October 23).

In preparation for this, following the completion of the Joint Technical Study, Upland has advanced its preparations to deliver an exploration drilling programme to meet this announcement.

Following its application for an exclusive award with the Government and Petros the Company has built an experienced team, made up of local and international experts, who are ready to commence operations on Block SK334.

Joint Technical Study

In the terms and conditions of the signed Joint Technical Study Agreement between Upland and Petros, and as a medium-term strategy, Upland has certain unique advantages over other potential bidders in a competitive bidding process.

Joint Venture and Funding Partners

Additionally, Upland has identified potential partners for funding and operatorship of the SK334 Production Sharing Contract as a long-term strategy.

For more detailed information, please visit the following links:

https://upland.energy/team-for-drill-campaign/

https://upland.energy/wp-content/uploads/2024/06/SK334-Progress-Report-June-24.pdf

We will inform the market further in due course and look forward to meeting shareholders at the Company AGM on Tuesday 30th 2024.

For further information, please contact:

**ENDS**