United Oil and Gas Plc (UOG) have clarified that they have not discovered any commercial oil or gas as they have not drilled any wells in Jamaica in response to recent social media speculation regarding the presence of these resources off the Jamaica coast.
UOG emphasized that the Walton-Morant license they possess is specifically for exploration activities along Jamaica’s southern coast, holding 100% working interest and are currently in the process of a farm-out initiative.
CEO Brian Larkin expressed that the Walton-Morant license spans a significant exploration area with numerous promising projects with the primary objective to enhance the company’s understanding of the resource potential in the licensed area.
Covering 22,400km², this offshore exploration license is situated south of Jamaica, as per UOG.
The company’s 2024 work plan revolves around conducting piston core sampling to detect any oil residues before identifying potential future drilling targets for exploration.
