United Oil & Gas extends Jamaica farm-out deadline
United Oil & Gas has extended the deadline for the farm-out of Jamaica offshore license Walton Morant.
“We are encouraged by the number and quality of companies that are in the process of completing their evaluations,” the company said in an update. The original deadline had been at the end of June.
Although a new date for the submission of offers was not provided, a commitment to drill a well must be made by end-January 2024.
"We remain focused on securing a partner in Jamaica for this potentially transformational licence,” CEO Brian Larkin said.
United highlights over 2.4Bb (billion barrels) of recoverable unrisked potential on the acreage, including 400Mb on the “drill ready” Colibri prospect, with a US$3.9bn net present value for Colibri.
Source: United Oil & Gas
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