REG - United Oil & Gas PLC - Piston Core Survey Permit Application Submitted

United Oil & GasAnnouncement

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RNS Number : 8041I  United Oil & Gas PLC  15 May 2025

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

 

15(th) May 2025

United Oil & Gas plc

("United" or "the Company")

 

Piston Core Survey Permit Application Submitted - Technical De-Risking
Advances in Jamaica

 

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 formally submitted the permitting application
for the piston core survey to the National Environmental and Planning Agency
("NEPA") in Jamaica.

 

The application marks a key milestone in United's forward work programme. The
process took longer than anticipated due to enhancements to the technical
scope and the need to finalise and align all supporting documentation to the
satisfaction of the regulator.

 

The piston core survey will involve the collection of 40 to 60 seabed sediment
(mud) samples from the Walton and Morant basins using a long, cylindrical
piston corer designed to penetrate the seafloor and retrieve undisturbed score
samples from the seafloor. These samples will undergo detailed geochemical
analysis to improve understanding of the hydrocarbon generation potential and
reservoir quality across the licence area.

 

To aid in selecting viable seabed locations, a Multibeam Echosounder (MBES)
survey is planned over certain deeper areas of the licence, particularly in
regions of the Morant Basin not currently covered by  3D seismic data.

 

In addition, the survey will include a heat probe analysis at selected
locations to measure background heat flow and sediment thermal conductivity.
This data will support refined basin modelling and petroleum system analysis -
helping to identify and prioritise areas most likely to host commercial
hydrocarbon accumulations.

 

The Walton-Morant Licence covers 22,400km² and contains over 40 identified
leads and prospects. Eleven of these have been independently certified by
Gaffney Cline and estimated to be holding over 2.4 billion barrels of unrisked
mean prospective resources.(1) United's internal estimates suggest the total
exploration potential could exceed 7 billion barrels across the licence
area.(2)

 

The piston core survey is expected to form part of the farm-out, offering
potential farm-in partners a defined pathway to early-stage participation in
the Walton-Morant Licence. Designed to further de-risk what the Company
believes to be one of the most compelling frontier exploration opportunities
globally, the programme has already attracted interest from engaged parties
under NDA. Our strategy on delivering the execution of the piston core survey
will form part of the ongoing farm-out efforts.

 

 

Brian Larkin, CEO of United Oil & Gas, commented:

 

"We are pleased to confirm the submission of the permit application for our
piston core survey. While the process took longer than anticipated, it
reflects the expanded technical scope and our desire to maximise the value of
the programme. This survey will deliver valuable data to further de-risk the
Walton-Morant Licence, and support our efforts to unlock the value of what we
believe is a potentially world-class frontier basin."

 

1. Unrisked Mean Prospective Resources as per Gaffney Cline report
"Prospective Resources Audit, Walton-Morant Licence, Jamaica" dated 4 December
2020

2. Based on United's arithmetic sum of the Unrisked Mean or Mid-Case
Prospective Resources for each prospect or lead identified within the Walton
Morant Licence boundary by United and/or previous operators

**ENDS**

 

 

 Enquiries
 United Oil & Gas Plc (Company)
 Brian Larkin, CEO                                      brian.larkin@uogplc.com (mailto:brian.larkin@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

 Optiva Securities Limited (Joint Broker)
 Christian Dennis                                       +44 (0) 20 3137 1902

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

 Damon Heath | Isabella Pierre

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

 

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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