Client NewsUpland Resources Limited: Completion of 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 announce the completion of its reduction in its interest in United Kingdom Offshore Licence P2478 (the “Licence”) in the Inner Moray Firth, United Kingdom by 8% from 40% to 32%.
Further to the Company’s announcement of 18 August 2021 the holders of the Licence (Licence Holders) being Upland, Corallian Energy Limited and Baron Oil plc (“Baron”) have completed the reassignment of Upland’s 8% interests in the Licence to Baron (Assignment). This follows the required formal consent given by the United Kingdom Oil & Gas Authority.
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