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Upland Resources Limited: UK Licence P2478 Farm Out Agreement
Home / Client News / Upland Resources Limited: UK Licence P2478 Farm Out Agreement

Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to provide an update on its licence P2478 in the Inner Moray Firth, United Kingdom (Licence).

The holders of the Licence (Licence Holders) being Upland, Corallian Energy Limited and Baron Oil plc (“Baron”) have agreed, conditional inter alia on approval from the UK Oil and Gas Authority (“OGA”), on a reassignment of Upland’s 8% interests in the Licence to Baron (Assignment) such that Upland’s interest will reduce from 40% to 32%. Corallian have also agreed to reduce their interests in the Licence by 9%. Upon completion of the Assignment the interests in the Licence will be as follows:

P2478 Working Interests

 

Current Working Interests

Proposed Working Interests

Upland Resources

40%

32%

Corallian Energy Limited*

45%

36%

Baron Oil PLC

15%

32%

* Operator

https://www.londonstockexchange.com/news-article/UPL/uk-licence-p2478-farm-out-agreement/15102896

 

 

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