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 signed a non-binding Memorandum of Understanding ('MOU') with TDI Brooks International, a global leading provider of geotechnical and geochemical survey services with over 29 years' experience, to secure a specialist survey vessel for the planned piston coring and surface geochemical programme on the Walton Morant Licence, offshore Jamaica.
Highlights:
- MOU signed with TDI Brooks International to secure vessel for Q4 2025 piston coring and surface geochemical survey
- Programme to collect 40-60 seabed cores across the Walton and Morant Basins, alongside bathymetric, multibeam and heat-flow surveys
- Field operations expected to last two to three weeks, with mobilisation planned for Q4 2025
- Execution during this window enables material cost savings, as the TDI Brooks vessel will transit via Jamaica en route from Trinidad
- Critical de-risking step supporting ongoing farm-out discussions and shareholder value creation
Survey Scope and Schedule
The piston coring and surface geochemical campaign, to be undertaken by TDI Brooks International, forms a key part of United's forward work programme under its extended licence to January 2028. The survey will involve the collection of 40-60 seabed core samples across the Walton and Morant Basins, accompanied by bathymetric, multibeam echo-sounding and heat-flow surveys.
The data will be analysed for geochemical and thermal signatures to confirm the presence of thermogenic hydrocarbons, assess source rock maturity, and refine basin modelling materially enhancing the definition of key prospects, including Colibri and Oriole.
Following formal contract execution, which is expected to take place shortly, TDI Brooks will mobilise the vessel later this quarter. Field operations are expected to last for two to three weeks, with completion anticipated within a short operational window and initial analytical results expected in late Q4 2025 to early Q1 2026.
Timing and Strategic Rationale
The decision to secure a vessel now reflects both operational importance, market dynamics and shareholder value creation. There is currently strong regional demand and limited vessel availability as survey assets mobilise toward other Caribbean work programmes. United's agreement with TDI Brooks ensures access to a suitable vessel that is transiting via Jamaica en route from Trinidad, enabling the Company to complete the programme efficiently within this specific window and realise significant mobilisation and demobilisation cost savings.
Delaying the survey beyond this slot would risk higher costs, loss of vessel availability, and schedule slippage into 2026. Acting decisively allows United to execute the programme efficiently, and under favourable logistical conditions and within its 31 March 2026 Beach licence renewal date.
In addition, a successful survey will increase the exploration chance of success across the acreage and thereby increase project value for shareholders. As outlined in the recently published Risking Report on our website, a success case would substantially enhance the chance of exploration success across the Walton Morant basins, with Colibri improving from 19% to 32% and Oriole from 13% to 21%.
This uplift would represent a step change in predrill confidence, providing both a material value trigger for shareholders and a strong platform for ongoing farmout discussions. By executing the piston core programme directly, United can accelerate technical validation ahead of any potential farm out discussions.
Further updates will be provided in due course as we move towards final vessel selection and execution of the binding agreement for the vessel.
Brian Larkin, Chief Executive Officer of United Oil & Gas, commented:
'Securing the vessel agreement with TDI Brooks is a decisive move that takes United from preparation into execution.
The piston coring and geochemical survey will deliver vital new data to confirm the presence of hydrocarbons and materially de-risk the Walton Morant Basin. With a short operational window and high regional demand for vessels, it was essential we moved now to secure capacity.
This programme represents a pivotal value catalyst for United, and we strongly anticipate it to strengthen our technical position, accelerate farm-out discussions, and demonstrate our commitment to driving tangible shareholder value through disciplined, timely execution.'
Source: United Oil & Gas
