RCS - United Oil & Gas PLC - United signs Vessel MOU for Jamaica Survey

United Oil & GasAnnouncement

09/10/2025 07:00

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RNS Number : 6177C  United Oil & Gas PLC  09 October 2025

  United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

 

9 October 2025

 

United Oil & Gas plc

("United" or "the Company")

 

United signs Vessel MOU for Jamaica Survey: Programme on Track for Q4

 

UOG to deliver key de-risking milestone supporting live farm-out discussions

 

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 that it has signed a non-binding Memorandum of
Understanding ("MOU") with TDI Brooks International, a global leading
provider of geotechnical and geochemical survey services with over 29 years'
experience, to secure a specialist survey vessel for the planned piston coring
and surface geochemical programme on the Walton Morant Licence, offshore
Jamaica.

 

Highlights:

 

·    MOU signed with TDI Brooks International to secure vessel for Q4
2025 piston coring and surface geochemical survey

·    Programme to collect 40-60 seabed cores across the Walton and
Morant Basins, alongside bathymetric, multibeam and heat-flow surveys

·    Field operations expected to last two to three weeks, with
mobilisation planned for Q4 2025

·    Execution during this window enables material cost savings, as the
TDI Brooks vessel will transit via Jamaica en route from Trinidad

·    Critical de-risking step supporting ongoing farm-out
discussions and shareholder value creation

 

Survey Scope and Schedule

 

The piston coring and surface geochemical campaign, to be undertaken by TDI
Brooks International, forms a key part of United's forward work programme
under its extended licence to January 2028. The survey will involve the
collection of 40-60 seabed core samples across the Walton and Morant Basins,
accompanied by bathymetric, multibeam echo-sounding and heat-flow surveys.

 

The data will be analysed for geochemical and thermal signatures to confirm
the presence of thermogenic hydrocarbons, assess source rock maturity, and
refine basin modelling materially enhancing the definition of key prospects,
including Colibri and Oriole.

 

Following formal contract execution, which is expected to take place
shortly, TDI Brooks will mobilise the vessel later this quarter. Field
operations are expected to last for two to three weeks, with completion
anticipated within a short operational window and initial analytical results
expected in late Q4 2025 to early Q1 2026.

 

 

 

 

Timing and Strategic Rationale

The decision to secure a vessel now reflects both operational importance,
market dynamics and shareholder value creation. There is currently strong
regional demand and limited vessel availability as survey assets mobilise
toward other Caribbean work programmes. United's agreement with TDI
Brooks ensures access to a suitable vessel that is transiting via Jamaica en
route from Trinidad, enabling the Company to complete the programme
efficiently within this specific window and realise significant
mobilisation and demobilisation cost savings.

 

Delaying the survey beyond this slot would risk higher costs, loss of vessel
availability, and schedule slippage into 2026. Acting decisively allows United
to execute the programme efficiently, and under favourable logistical
conditions and within its 31 March 2026 Beach licence renewal date.

 

In addition, a successful survey will increase the exploration chance of
success across the acreage and thereby increase project value for
shareholders. As outlined in the recently published Risking Report on our
website, a success case would substantially enhance the chance of exploration
success across the Walton Morant basins, with Colibri improving from 19% to
32% and Oriole from 13% to 21%.

 

This uplift would represent a step change in predrill confidence, providing
both a material value trigger for shareholders and a strong platform for
ongoing farmout discussions. By executing the piston core programme directly,
United can accelerate technical validation ahead of any potential farm out
discussions.

 

Further updates will be provided in due course as we move towards final vessel
selection and execution of the binding agreement for the vessel.

 

Brian Larkin, Chief Executive Officer of United Oil & Gas, commented:

 

"Securing the vessel agreement with TDI Brooks is a decisive move that takes
United from preparation into execution.

 

The piston coring and geochemical survey will deliver vital new data to
confirm the presence of hydrocarbons and materially de-risk the Walton Morant
Basin. With a short operational window and high regional demand for vessels,
it was essential we moved now to secure capacity.

 

This programme represents a pivotal value catalyst for United, and we strongly
anticipate it to strengthen our technical position, accelerate farm-out
discussions, and demonstrate our commitment to driving tangible shareholder
value through disciplined, timely execution."

 

 

**ENDS**

 Enquiries
 United Oil & Gas Plc (Company)
 Brian Larkin, CEO                                      investor.relations@uogplc.com

 Beaumont Cornish Limited (Nominated Adviser)
 Roland Cornish | Felicity Geidt | Asia Szusciak        +44 (0) 20 7628 3396

 Tennyson Securities (Joint Broker)
 Peter Krens                                            +44 (0) 20 7186 9030

 Shard Capital Limited (Joint Broker)                   +44 (0) 207 186 9900

 Damon Heath | Isabella Pierre

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Notes to Editors

United Oil & Gas is an oil and gas company with a development asset in
the UK and a high impact exploration licence in Jamaica.

 

The business is led by an experienced management team with a strong track
record of growing full cycle businesses, partnered with established industry
players and is well positioned to deliver future growth through portfolio
optimisation and targeted acquisitions.

United Oil & Gas is listed on the AIM market of the London Stock
Exchange. For further information on United Oil and Gas please
visit www.uogplc.com (http://www.uogplc.com)

 

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