Offshore staff
DUBLIN, Ireland – United Oil & Gas has received Gaffney Cline’s evaluation of potential hydrocarbons in the Walton Morant license offshore Jamaica.
This indicates unrisked mean prospective resources of more than 2.4 Bbbl for 11 prospects and leads, including 406 MMbbl for the prime exploration target, Colibri. In addition, the Thunderball lead could hold 603 MMbbl.
The figures are said to represent an uplift of 77% compared to the previous independent report.
Jonathan Leather, COO of United, said: “Since concluding the agreement with the Jamaican government to take on operatorship earlier this year, and informed by feedback from companies who have engaged with United and the previous license operator in the data-room process, United has been making good progress on the committed work program, and the CPR results here are another step towards reaching the company’s ultimate goal of being in position to drill the first exploration well offshore Jamaica for over 40 years.
“We are actively seeking partners to join us in making this happen – and unlocking the potential that is clearly present in Jamaica.”
The license spans an area of 22,400 sq km (8,649 sq mi). To date 11 wells have been drilled (two offshore and nine onshore), with all but one delivering hydrocarbon shows.
United’s initial exploration period terms include a drill-or-drop decision by Jan. 31, 2022. As part of this agreement, the company was mandated to carry out a low cost, geotechnical work program, building on the $30 million+ that has been invested to date.
12/08/2020
