For Immediate Release
Upland Resources Limited
(“Upland” or the “Company”)
Approval to Trade on the OTCQB Venture Market
Trading commences 18 March 2026 under ticker UPLLF
Upland Resources Limited (LSE:UPL, OTCQB: UPLLF) the upstream oil and gas company focused on the development of high-impact assets across Southeast Asia, is pleased to announce that its application for the Company’s ordinary shares to be quoted on the OTCQB Venture Market (“OTCQB”) in the United States, operated by OTC Markets Group Inc., has been approved. Trading will commence on 18 March 2026 under the ticker symbol UPLLF. The Company’s ordinary shares will continue to trade on the Main Market of the London Stock Exchange under the ticker UPL.
Key Elements:
• OTCQB Venture Market approval received. Trading commences 18 March 2026 under the symbol UPLLF.
• US investors will be able to trade Upland shares in US dollars during US market hours for the first time.
• The OTCQB quotation operates as a cross-trading facility with the LSE during US trading hours.
• Upland provides a liquid, publicly traded means of gaining exposure to the Lost Soldier Oil and Gas project and the Wild Mustang Federal Unit.
The OTCQB is a US venture-stage market operated by OTC Markets Group Inc. The Directors believe the quotation will complement the Company’s existing LSE listing, broaden its North American investor base, and provide a more accessible route for US investors to gain exposure to Upland’s portfolio.
Strategic Context
The OTCQB approval provides Upland with a dedicated US trading venue at a significant point in the Company’s development. The Company is engaged in active discussions regarding a number of high-impact upstream licence opportunities across Southeast Asia, supported by the US$100 million Strategic Funding Commitment from Lost Soldier Oil and Gas, and expects to make further announcements as these workstreams advance. Through its partnership with Lost Soldier, Upland also holds a participation interest in the Wild Mustang Federal Unit in Wyoming, potentially one of the largest new gas fields in the United States, targeting first commercial gas sales in Q4 2026.
The Directors believe the OTCQB positions Upland to engage a wider North American investor audience as the Company moves toward the announcements that will define its next phase of growth. The concurrent fundraising from US-based investors, announced yesterday, reflects the early momentum that access to this market is already generating.
The OTCQB approval builds on the Framework Agreement announced on 24 November 2025 and the US$100 million Strategic Funding Commitment announced on 23 January 2026.
US$100m Strategic Funding Commitment – Upland
Management Commentary
Bolhassan Di, Chairman and CEO of Upland Resources Limited, commented:
“The OTCQB approval reflects growing international recognition of what Upland is building. Our strategic focus is Southeast Asia, and the Wild Mustang project demonstrates the quality of the partnership underpinning that ambition. Today’s announcements – a new US trading venue give us an excellent platform from which to advance.”
For further information, please contact:
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Upland Resources Limited |
Tel: +60 198 861919 |
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Bolhassan Di, Chairman and CEO |
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Gerry Murray, COO |
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Josh Galloway, Head of Drilling |
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Hill Dickinson LLP – Legal Advisers |
Tel: +44 (0)20 7283 9033 |
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20 Primrose Street, London, EC2A 2EW. |
Wild Mustang gas field – Direct investment
The Wild Mustang gas field in central Wyoming, operated by Lost Soldier Oil and Gas, is an emerging natural-gas development located within the Wild Mustang Federal Unit in the Bison Basin, a sub-basin of the prolific Green River Basin north of Rawlins. The project is regarded by the company as one of the largest natural gas discoveries in the western United States in several decades, with estimates suggesting resources of around 6 trillion cubic feet (Tcf) of gas. Exploration drilling-particularly the Green Mountain #4 discovery well and the Found Soldier #1 appraisal well-has confirmed approximately 3,400 ft of stacked gas-bearing pay zones across multiple reservoirs, indicating significant vertical and lateral resource potential. Development is progressing through a phased program that includes additional drilling, horizontal well planning, and the construction of midstream infrastructure to bring gas to market.
A key step is the installation of a 5.3-mile connector pipeline linking the field to existing regional pipeline networks capable of transporting roughly 400 MMcf/d, with first commercial gas sales targeted around Q4 2026 depending on regulatory approvals and infrastructure completion. In parallel, Lost Soldier has assumed full operational control of the federal unit and is advancing annual development plans, further drilling campaigns, and studies for a gas-processing facility, positioning the Wild Mustang project for gradual scale-up toward large-volume production later in the decade.
Inside Information (UK MAR)
This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation (EU) No. 596/2014, which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”). This information is disclosed in accordance with the Company’s obligations under Article 17 of UK MAR.
FCA and Prospectus Disclaimer
This announcement does not constitute, and should not be construed as, a prospectus, admission document or offering memorandum, nor an offer to sell or the solicitation of an offer to buy any securities in the Company. No securities of the Company are being offered pursuant to this announcement. This announcement has not been reviewed or approved by the Financial Conduct Authority or any other regulatory authority.
Forward-Looking Statements
This announcement includes forward-looking statements, including statements relating to prospective resources, exploration and appraisal programmes, drilling plans, funding availability, farm-in arrangements, regulatory outcomes and future operations. Forward-looking statements are based on current expectations, assumptions and estimates and involve risks and uncertainties that could cause actual results or developments to differ materially from those expressed or implied.
Forward-looking statements are not guarantees of future performance. Factors that could cause actual outcomes to differ materially include, but are not limited to, licence awards, regulatory approvals, subsurface risk, commodity price volatility, operational risks, availability of capital, counterparty performance and changes in fiscal or governmental regimes. The Company undertakes no obligation to update any forward-looking statements except as required by applicable law or regulation.
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