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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. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
22 January 2024
UPLAND RESOURCES LIMITED
(“Upland” or the “Company”)
Finance and investment Committee – Strategic focus
Upland Resources Limited (LSE: UPL) is pleased to announce the formation of a Finance and Investment Committee responsible for advising the Upland Board of Directors on activities related to the Company’s assets. This underscores the Company’s commitment to effective management on workstreams such as Block SK334.
The Finance and Investment Committee’s mandate encompasses a number of critical functions, including the oversight of joint venture funding offers which the company has received, preparation and oversight of formal farm-out proceedings, reviewing strategic interest on Block SK334 and unsolicited funding/farm-in offers.
The company is now in the clarification stage of the PSC process, pre drill activities have commenced, a new illustrated project overview will be outlined to investors in the January shareholder update.
Upland Resources is well financed to meet its work commitments, and appreciates the continued support shown from strategic partners and cornerstone investors.
Members of the Finance and Investment Committee
a. Bolhassan Di – Chairman
b. Dixon Wong
c. Aimi Nasharuddin
d. John Forrest
e. Gerard Murray – Secretary
https://upland.energy/our-team/
Bolhassan Di, Upland Chairman and CEO commented:
“The timely formation of the Financial & Investment committee underlines the need to address the growing interest from corporate and institutional entities, this coupled with the anticipated PSC works leads to what is a busy period ahead. We look forward to outlining our current work-streams and build up towards the production profile of block SK334, in Sarawak.”
**Ends**
For further information, please contact:
| Upland Resources Limited Bolhassan Di, Chairman and CEO Gerard Murray, COO | Tel: +60 198 861 919 [email protected] [email protected] |
| Optiva Securities – Broker Christian Dennis (Corporate Broker) | Tel: +44 (0)20 3137 1903 [email protected] www.optivasecurities.com |