AIM-listed United Oil & Gas says a study by NRG Well Management identified a double-digit pool of suitable drilling rigs for the Walton Morant licence offshore Jamaica. The company is using the work to support its farm-out talks, and its stated focus is closing that process.
The study assessed rigs from established international drilling contractors against capability, timing and regional positioning. It also outlined the main long-lead equipment needs. Direct supplier engagement clarified availability, sourcing options and procurement timelines, which lets United and any partner line procurement up with a target drilling window.
Two targets in one campaign
The work covers the Colibri prospect, in about 750 meters of water, and Thunderball, a possible follow-on well in about 1,900 meters. Colibri carries 406 MMbo of mean prospective resource and Thunderball 603 MMbo, per the GaffneyCline report of 2020. Together that is 1,009 MMbo that could be targeted in a single exploration campaign. Thunderball sits in the Morant Basin among a wider series of large, tilted fault-block structures.
Jamaica-based logistics
The study sets out a logistics model built on existing Jamaican port and commercial infrastructure. The capabilities it lists are port and project cargo operations, storage and laydown, heavy lifting, marine fuel supply, and customs and freight forwarding. Specialist offshore services and equipment would come from established regional hubs.
Company view
Chief Executive Officer Brian Larkin called the study "an important step forward" for the licence. He said it gives prospective farm-in partners practical information on a possible campaign. He put the licence portfolio at 40 leads and prospects holding over 7.2 billion barrels of prospective resources.
United said the study is a forward-planning and market review and is not a commitment to drill a well. Any drilling program would need approvals from the Government of Jamaica and signed commercial agreements.
