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Pin to quick picksUpland Resource Regulatory News (UPL)

Share Price Information for Upland Resource (UPL)

London Stock Exchange
Share Price: 1.45
Bid: 1.40
Ask: 1.50
Change: 0.00 (0.00%)
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Open: 1.45
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Yest. Close: 1.45
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OGA approval for increased stake in PEDL 299

Fri, 13th Jan 2017 10:05

RNS Number : 1330U
Upland Resources Limited
13 January 2017

13 January 2017


("Upland" or the "Company")

OGA approval for increased stake in PEDL 299 (Hardstoft)

Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to note that the UK Oil and Gas Authority ("OGA") has formally approved the increase in participating interest of Upland's wholly-owned subsidiary, Upland Resources (UK Onshore) Limited ("Upland UK") in INEOS Upstream Limited ("INEOS")-operated PEDL 299, which contains the Hardstoft oil field and Hardstoft East prospect. As a result, Upland UK's participating interest will increase from 16.67% to 25%.

The following table shows the participating interests for Upland UK and partners:-


Interests following assignments & OGA approval

Upland UK


Europa Oil & Gas Ltd


INEOS (Operator)


Note that the above table represents the interests in the conventional prospectivity of PEDL 299 in the Dinantian Limestone, the stratum that hosts the Hardstoft accumulation. INEOS has 100% of the interest in the unconventional prospectivity.

Upland CEO, Steve Staley, commented:

"I am very pleased that the OGA has approved Upland UK's increased stake in PEDL 299. This is another positive step towards realisation of the potential of this very attractive asset".

Contact details:-

Upland Resources Limited


Steve Staley, CEO

Tel: 07891 677 441


Optiva Securities Limited


Jeremy King (Corporate Finance)

Tel: 020 3137 1904


Christian Dennis (Corporate Broker)

Tel: 020 3411 1882 christian.dennis@optivasecurities.com

FlowComms Ltd


Sasha Sethi (Investor Relations)

Tel: 07891 677 441



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.

This information is provided by RNS
The company news service from the London Stock Exchange

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