Archive for the ‘Jamaica’ Category

Did you miss the boat on Guyana?😉 This may be a good opportunity. The risk-reward ratio looks pretty favorable.

Per the Energy Advisors Group:

  • Gaffney, Cline & Associates have audited the drill-ready target prospect with mean resources of 400 MMbbls
  • Standalone success on hitting the mean target is expected to achieve NPV10 of $2.5 billion at $60 oil
  • The test well cost is estimated to be $30 million and provides exposure to own a material interest in the entire license
  • The initial target is a carbonate platform and shows strong evidence of reservoir trap and intact seal, Cretaceous kitchen source and live oil seeps
  • Recent advanced seismic relative dispersion technical work provides further evidence of reservoir porosity and permeability, the presence of a seal, and additional reservoir potential
  • The License, formerly owned by Tullow, is well-supported by the Jamaican government with attractive fiscal terms

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United’s Walton-Morant license, offshore Jamaica

Note that the license covers 22,400 sq km, as compared to ~25 sq km for a typical US offshore lease block.

“In Jamaica, the farm-out of our high impact exploration licence with 2.4 billion barrels of unrisked mean prospective oil resource is picking up pace with a timetable for receipt of indicative offers due in Q2 2023. 

In Jamaica, as part of the licence extension that was granted, technical studies that have provided additional positive support to the farm-out process have been completed

United Oil and Gas

previous Jamaica posts

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