While Jamaica’s Walton Morant Block has impressive potential, that doesn’t equate to oil and gas reserves, and speculation about the “next Guyana” is highly premature.
The block’s licensee, United Oil & Gas (UOG), lacks the financial resources to fulfill its drilling commitment, and is thus dependent on finding industry partners. The Government of Jamaica has generously granted multiple license extensions to UOG, the latest through 1/31/2028.
Will UOG succeed in their quest for partners? Is the confidence expressed below justified? Stay tuned.
Bud's Offshore Energy (BOE) 