United Oil & Gas PLC received approval from the Jamaican government to develop the Walton Morant license, Jamaica. The license is in a highly prospective frontier basin with evidence of a working petroleum system. The initial exploration period is extended for 18 months.
The license covers an area of 22,400 sq km and has numerous plays and prospects already identified across three separate basins. Eleven wells have been drilled to date (nine onshore, two offshore), and all but one contained hydrocarbon shows.
In 2019, a competent persons report identified a total 229 million stock tank bbls (MMstb) gross un-risked mean prospective resource on the Colibri prospect in the license. In high-case scenarios, gross unrisked resource estimates for Colibri suggest up to 513 MMstb could be recovered. A work program is underway to further de-risk Colibri ahead of a drill decision. United will also perform detailed interpretation of numerous follow-on targets including Moonraker, Thunderball, Moneypenny, Jaws, Goldfinger, Vesper, Oriole, Earspot, and Rumpspot.
United has been assigned Tullow Jamaica Ltd.'s 80% equity in Walton Morant and is now operator and 100% equity holder.
