United Oil & Gas Plc (AIM: UOG), the oil and gas company with a high-impact exploration asset in Jamaica and a development asset in the UK, is pleased to announce the successful completion of its Seabed Geochemical Exploration ("SGE") programme, including the final Stage 3 piston core survey, within the Walton-Morant Licence offshore Jamaica.
The SGE programme represents a key operational step toward further de-risking the Walton-Morant Licence and progressing discussions with interested parties.
Highlights
- All 3 stages of the SGE survey completed safely and as planned within the Walton-Morant Licence offshore Jamaica
- Stage 1 - Multibeam Echosounder (MBES) successfully completed with 1,189 line kilometres of high-quality data acquired and processed
- Stage 2 - Heat flow probe data acquired in both the Walton and Morant basins
- Stage 3 - Based on the integration of the MBES data with existing seismic data, 42 piston coring sites were selected. During piston coring operations seabed sediment was successfully recovered from all 42 selected locations.
The piston core samples are now being prepared for shipment to TDI-Brooks laboratories in the United States where they will undergo geochemical analysis to test for the presence of thermally derived hydrocarbons. Initial laboratory results are expected in the coming weeks.
Results will be integrated with existing datasets to support continued advancement of United's technical evaluation and further de-risking of the Licence area. Positive results are expected to strengthen the Company's data room materials and support discussions with interested parties.
The Company will provide further updates in due course.
Brian Larkin, CEO of United Oil & Gas, commented:
"Completing the SGE programme safely and as planned is an important milestone for United and the Walton-Morant Licence. The recovery of seabed sediment cores at all 42 selected locations is a fantastic achievement, and we look forward to receiving the results of the laboratory analysis and to integrating them into our subsurface work shortly.
At the same time, we will continue to progress discussions with potential partners with the objective of advancing towards a potentially transformational offshore exploration drilling phase for Jamaica."