United Oil and Gas Plc Dismisses Reports of Oil Discovery in Jamaica

The United Oil and Gas Plc (UOG) has issued a statement denying reports of a commercial oil discovery in Jamaica. Despite circulating on social media, the company has confirmed that no wells have been drilled, and no oil or gas discovery has been made.

The company holds a 22,400km2 offshore exploration license located to the south of the island and is currently engaged in a farm-out process. The Walton-Morant license, which the company has acquired, is for exploration off Jamaica’s south coast.

“We are committed to improving our understanding of the resource potential within the license area,” said Brian Larkin, United’s chief executive officer.

The company’s 2024 work program is focused on conducting piston core sampling, which aims to detect any oil residue before considering future exploration drilling targets. Larkin added that they are working to secure a strategic partner to unlock the immense potential within the license, including recent positive interest from several parties.

Earlier, Energy Minister Daryl Vaz also dismissed reports of the oil find as “fake news,” stating that there is no such thing and urging Jamaicans to disregard the rumors.

According to social media reports, the oil discovery is equivalent to seven billion barrels, with some speculating that the release of popular entertainer Vybz Kartel, who had been convicted of murder, was done deliberately to distract the masses from the alleged find. However, Vaz said the claims are “untrue” and urged Jamaicans to disregard the rumors.

United Oil Plc’s website states that its “frontier exploration license benefits from excellent data coverage, including 2,250km2 of 3D data, which has helped define multiple plays and prospects and material productivity within the acreage.” The company estimates that over seven billion barrels of mean/mid-case recoverable unrisked prospective resources have been identified within the Walton Morant license area.

Conclusion

In conclusion, United Oil and Gas Plc has denied reports of a commercial oil discovery in Jamaica, stating that no wells have been drilled and no oil or gas discovery has been made. The company is committed to exploring the potential of the Walton-Morant license and is working to secure a strategic partner to unlock its immense potential.

FAQs

Q: What is the status of the United Oil and Gas Plc’s exploration efforts in Jamaica?
A: The company has not made any commercial oil or gas discovery in Jamaica and is currently engaged in a farm-out process to explore the potential of the Walton-Morant license.

Q: What is the Walton-Morant license?
A: The Walton-Morant license is a 22,400km2 offshore exploration license located to the south of Jamaica, which United Oil and Gas Plc has acquired for exploration off Jamaica’s south coast.

Q: What is the company’s 2024 work program?
A: The company’s 2024 work program is focused on conducting piston core sampling to detect any oil residue before considering future exploration drilling targets.

Q: Who is the Energy Minister of Jamaica?
A: Daryl Vaz is the Energy Minister of Jamaica, who has also dismissed reports of the oil find as “fake news.”