| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
United Oil & Gas welcomes positive resource estimate for Jamaica assets
StockMarketWire.com
|
Oil company United Oil & Gas said an analysis indicated its assets offshore Jamaica had a mean prospective resource of over 2.4 billion barrels, assigned across 11 prospects and leads.
The independent evaluation of the Walton Morant licence was prepared by Gaffney Cline & Associates.
The analysis also produced a 406 milion barrel gross un-risked mean prospective resource estimate for the Colibri prospect, the prime exploration target on the licence, which was a 77% uplift compared to a previous independent report.
'United has long held the view that the Walton Morant Basin is a highly prospective and exciting basin, with billion-barrel potential,' chief operating officer Jonathan Leather said.
'This is the second independent report on the licence and the first to explore prospects across the full basin. '
'The results are exceptionally positive and support our strong conviction that this is a transformational asset.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
