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 provide an update on planning activities for the technical programme at its 100%-owned Walton Morant Licence.
Since securing the Environmental Permit for non-invasive offshore surveys, the Company has completed a substantial body of preparatory work to scope and plan the offshore technical programme, including piston coring, multibeam echosounder bathymetry, and other permitted data acquisition. This work positions United to move efficiently into the next operational phase within any optimal window.
Key planning activities completed include:
· Survey design and operational planning for piston coring and seabed mapping.
· Detailed interpretation of available 3D seismic volumes and 2D seismic lines, integrating structural and stratigraphic mapping with seabed data to high-grade and optimise piston core locations.
· Continued engagement with local stakeholders to ensure to ensure compliance, timely responsiveness/approvals, strong community and stakeholder relations and support.
Next Steps and Further Technical Enhancements
The Beach Licence, the final approval required for nearshore survey operations, is expected shortly.
In addition, the Company is evaluating the reprocessing of part of the existing seismic dataset, with the objective of further improving imaging quality and refining structural and stratigraphic interpretation. Enhanced seismic resolution from this work will support prospect definition, de-risking, and target prioritisation across the Walton and Morant basins.
Brian Larkin, CEO of United Oil & Gas, commented:
"With permitting now at an advanced stage, we are moving forward with detailed planning for a suite of offshore technical studies that will further strengthen our understanding of this highly prospective licence.
Engagement from prospective partners remains active, with parties continuing to review and evaluate the data in our secure virtual data room. Walton Morant contains multiple drill-ready prospects with independently assessed billion-barrel scale potential, and the recent progress on permitting reflects the practical steps being taken to prepare for future activity. This positions the asset more strongly for both technical and commercial advancement as we progress farm-out discussions alongside operational readiness."