17th Mar 2023 14:32
(Alliance News) - Upland Resources Ltd on Friday celebrated progress in Sarawak, Malaysia, as it continues development work to add value to the SK334 JTS workstream.
Upland Resources is a London-based oil and gas company, which has assets in Malaysia, Tunisia and the UK North Sea.
It said on Friday that it has successfully conducted geological fieldwork at the site, with 12 outcrop locations observed, discussed and analysed.
Seven samples were taken to the lab for further analysis, which will be used to support, confirm and integrate into the overall interpreted model of the block's petroleum geology.
"Progress to date on Block SK334 is very encouraging, integration of fieldwork findings and analysis with seismic interpretation works is now underway, with preliminary identification of prospects and leads depth structure maps for respective seismic horizons also in process," said Chief Executive Officer Bolhassan Di.
"The Joint Technical Study has identified that key elements of a working petroleum system are likely present on Block SK334 and we look forward to updating the market on the next phase of development."
Upland shares were trading 3.8% lower at 0.60 pence each in London on Friday afternoon.
By Holly Beveridge, Alliance News reporter
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