Upland Resource Regulatory News (UPL)

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2 February 2018

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Successful completion of Wick environmental survey work

Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that it has been informed by Corallian Energy Limited ("Corallian"), as operator of UK Seaward Production Licence P2235 (UKCS Block 11/24b, the "P2235 Licence"), of the successful completion of the environmental survey work over the area surrounding the proposed location for the forthcoming Wick well, offshore North-east Scotland.

The environmental survey is a key part of the work required for the permitting of the Wick well. The well is due to spud in Q3 this year.

On 29th November 2017, Upland's wholly-owned subsidiary, Upland Resources (UK Onshore) Limited ("Upland UK"), entered into a conditional farm-in agreement with Corallian for a 40% working interest in the P2235 Licence containing the Wick Prospect (the "P2235 Farm-in Agreement").

Completion of the P2235 Farm-in Agreement remains conditional on, inter alia, the approval by the UK Oil & Gas Authority of Upland UK as a farminee to the P2235 Licence, availability of funding to Upland UK sufficient to satisfy its obligations under the P2235 Farm-in Agreement and the P2235 Licence continuing in full force and effect.

Steve Staley, CEO of Upland Resources Limited, said:

"This is a significant step toward to the drilling of the potentially high impact Wick well this summer. Wick is a potentially transformative, low cost, near term drilling opportunity for Upland and I look forward to updating investors on further progress over the coming weeks. "

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

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Notes

Upland is an upstream oil & gas company whose highly experienced management team 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.