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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Upland Resources Limited | LSE:UPL | London | Ordinary Share | JE00BJXN4P16 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.58 | 21.32% | 3.30 | 3.20 | 3.40 | 3.40 | 2.75 | 2.80 | 9,151,682 | 15:02:58 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -494k | -0.0007 | -47.14 | 22.66M |
TIDMUPL
RNS Number : 1330U
Upland Resources Limited
13 January 2017
13 January 2017
UPLAND RESOURCES LIMITED
("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:-
Partner Interests following assignments & OGA approval ------------------ ---------------- Upland UK 25% ------------------ ---------------- Europa Oil & Gas Ltd 25% ------------------ ---------------- INEOS (Operator) 50% ------------------ ----------------
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 www.uplandres.com ============================ ========================================================= Steve Staley, CEO Tel: 07891 677 441 s.staley@uplandres.com ============================ ========================================================= Optiva Securities Limited www.optivasecurities.com ============================ ========================================================= Jeremy King (Corporate Tel: 020 3137 1904 Finance) jeremy.king@optivasecurities.com ============================ ========================================================= Christian Dennis (Corporate Tel: 020 3411 1882 christian.dennis@optivasecurities.com Broker) ============================ ========================================================= FlowComms Ltd www.flowcomms.com ============================ ========================================================= Sasha Sethi (Investor Tel: 07891 677 441 Relations) sasha@flowcomms.com ============================ =========================================================
Notes
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
END
MSCLIFFALAIVLID
(END) Dow Jones Newswires
January 13, 2017 05:05 ET (10:05 GMT)
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