AIM-listed United Oil & Gas, the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK has noted the recent rumours circulating in Jamaica media regarding its Walton Morant licence.
United confirms that it has drilled no wells in the Walton Morant licence and therefore no commercial oil or gas discovery has been made. United holds a 100% working interest and is currently engaged in a farm-out process. United's 2024 work programme is focused on conducting piston core sampling, which aims to detect any oil residue before considering future exploration drilling targets.
Brian Larkin, United Chief Executive Officer commented: 'The Walton-Morant Licence is a vast exploration area containing numerous promising prospects. We are committed to improving our understanding of the resource potential within the licence area.
We continue working to secure a strategic partner to unlock the immense potential within the licence, including recent positive interest that has been shown by several parties. Following securing an extension to the licence, our 2024 work programme is underway, and we will update the market at the next suitable opportunity.'
Source: United Oil & Gas
