Durrant Pate/Contributor

United Oil & Gas is in talks with a potential farm-in partner concerning its 22,400-sq-km Walton Morant exploration license offshore southern Jamaica.

At the same time, the company is working with the Jamaican authorities to secure an extension to the license, which is set to expire at the end of January 2024.

United, in a statement published on the London Stock Exchange on November 9, is seeking more time to progress further technical work on the block to support drilling of a first exploration well.

Seismic data coverage over the acreage includes 2,250 sq km of 3D data, with numerous plays and prospects identified and mapped across the area.

United estimates more than 2.4 Bboe unrisked mean prospective resources, with the “drill-ready” Colibri prospect potentially containing 406 MMbbl.

Extension granted two years ago

The Jamaican government in November 2021 granted United a two-year extension for the offshore Walton Morant license to January 31, 2024.

An amendment to the production sharing agreement was accepted by the Ministry of Energy and Technology.

United sees strong evidence of a hydrocarbon system in Jamaica, including source, reservoir, and seal rocks. In December 2020, Gaffney Cline & Associates reported 11 high-graded leads and prospects across the license with a combined resource potential of 2.4 Bbbl.

The company will use the extension to continue its farm-out process for Walton Morant, as it seeks partners to drill the 3D seismic-defined Colibri prospect, which could contain 406 MMbbl.