News Oil & Gas

United granted further two years for Walton Morant

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United Oil & Gas plc said it had been granted a two-year extension for its 100% Walton Morant licence, Jamaica.

Aim: to drill the Colibri prospect estimated to hold 406 million barrels oil (United Oil & Gas)

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 Gaffney Cline & Associates of 11 high graded leads and prospects indicated the potential for a combined estimated 2.4 billion barrels mean prospective resources.

Earlier this year United began a formal farm-out process for the block.

The company aims to drill the primary 3D seismic defined Colibri prospect estimated to hold mean prospective resources of 406 million barrels.

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