United Oil & Gas (UOG), the oil and gas company with a high-impact exploration asset in Jamaica and a development asset in the UK, provides an update on planning activities for the technical programme at its 100%-owned Walton Morant Licence.

Since securing the Environmental Permit for non-invasive offshore surveys, the Company has completed a substantial body of preparatory work to scope and plan the offshore technical programme, including piston coring, multibeam echosounder bathymetry, and other permitted data acquisition. This work positions United to move efficiently into the next operational phase within any optimal window.

Key planning activities completed include:

• Survey design and operational planning for piston coring and seabed mapping.
• Detailed interpretation of available 3D seismic volumes and 2D seismic lines, integrating structural and stratigraphic mapping with seabed data to high-grade and optimise piston core locations.
• Continued engagement with local stakeholders to ensure to ensure compliance, timely responsiveness/approvals, strong community and stakeholder relations and support.

Next Steps and Further Technical Enhancements

The Beach Licence, the final approval required for nearshore survey operations, is expected shortly.

In addition, the Company is evaluating the reprocessing of part of the existing seismic dataset, with the objective of further improving imaging quality and refining structural and stratigraphic interpretation. Enhanced seismic resolution from this work will support prospect definition, de-risking, and target prioritisation across the Walton and Morant basins.

Brian Larkin, CEO of United Oil & Gas, commented:
"With permitting now at an advanced stage, we are moving forward with detailed planning for a suite of offshore technical studies that will further strengthen our understanding of this highly prospective licence.

Engagement from prospective partners remains active, with parties continuing to review and evaluate the data in our secure virtual data room. Walton Morant contains multiple drill-ready prospects with independently assessed billion-barrel scale potential, and the recent progress on permitting reflects the practical steps being taken to prepare for future activity. This positions the asset more strongly for both technical and commercial advancement as we progress farm-out discussions alongside operational readiness."

Walton-Morant licence (United equity: 100%)

This is a 22,400km² offshore exploration licence, located to the south of the island of Jamaica.

With extensive seismic data coverage, including 2,250km² of 3D data, numerous plays and prospects have already been identified and mapped across the area – leading to over 2.4 billion barrels unrisked mean prospective resources being assigned to the licence. The drill-ready, high-impact Colibri prospect alone contains mean prospective resources of 406 mmbbls.

In November 2017, UOG signed an agreement with Tullow to farm-in to the Walton-Morant licence at a 20% equity interest. Tullow entered the Walton-Morant licence, which covers an area in excess of 32,000km², in October 2014. In addition to securing a large portfolio of legacy 2D seismic data, Tullow also acquired a further 3,650km of 2D seismic in 2016 and 2017. Interpretation of the data set has identified attractive Cretaceous and Tertiary aged clastic and carbonate reservoir targets and Tullow now intends to conduct a 2,000km² 3D seismic survey in H1 2018 focusing on the high-graded Colibri lead.

The Walton Morant Licence, offshore Jamaica, offers a commanding Caribbean exploration opportunity with access to play diversity across three geological basins. Only 11 wells have been drilled in the area to date, and despite difficulties with well placement due to a lack of seismic control, 10 of these encountered hydrocarbon shows. Recent work, including extensive onshore fieldwork, has confirmed the presence of all the elements required for a working petroleum system, and has also identified a thermogenically derived offshore oil seep close to the main prospect of interest, providing further confidence that there is the potential to find significant commercial volumes within the licence.

KeyFacts Energy: United Oil & Gas Jamaica country profile