United Oil & Gas plc said talks had entered a “critical stage” with its preferred potential farm-out partner for the Walton Morant licence in Jamaica. VALUE The company also aims to secure an extension to the licence period, due to expire at the end of January 2024, for additional technical work on the block to […]
Tag: Walton Morant – Jamaica
United granted further two years for Walton Morant
United Oil & Gas plc said it had been granted a two-year extension for its 100% Walton Morant licence, Jamaica. POTENTIAL Following completion of the approval process, the licence will run to 31 January 2024. United believes that there is a hydrocarbon system in Jamaica including source, reservoir, and seal rocks. An independent evaluation by […]
United marks ‘exceptional success’ from Egypt assets
United Oil & Gas said its Egyptian assets had performed beyond expectations during the first half of 2021. ABU SENNAN Revenues for H1 2021 are expected to be $10.3 to $10.5 million. Group cash balance was $2m, total cash collections of $8.2m and cash capital expenditure of $3m. United invested $2.2m in the Abu Sennan […]
United positive for the future on strength of 2020
United Oil and Gas plc said its strong financial and performance during 2020 has well placed the company to build on its successes and withstand uncertain hydrocarbon prices. In its trading report for 2020, the oil and gas production, development, exploration and appraisal group, announced it had total revenues of $9 to $9.2 million for […]
United has potential 2.4 billion barrels oil on Walton Morant licence
United Oil & Gas plc said a potential of more than 2.4 billion barrels of oil had been identified in its 100% owned 22,400km2 Walton Morant licence, Jamaica. RESOURCE Gaffney Cline & Associates published the figures in a new independent prospective resources report. United is due to drill the first exploration well offshore Jamaica for […]
United acquires Walton Morant from Tullow
United Oil & Gas plc has acquired the Walton Morant licence in Jamaica on a 100% operated basis, with its initial exploration period extended by 18 months. TARGETS The Jamaican Government approved the move which sees United take Tullow’s 80% equity in the licence for a nominal fee to become the operator and 100% equity […]