Business
Delivery of 3D seismic for Jamaica licence
Delivery of 3D seismic for Jamaica licence.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 5353X United Oil & Gas PLC 13 August 2018 \n\nUnited Oil & Gas PLC / Index: LSE / Epic: UOG / Sector: Oil & Gas \n \nUnited Oil & Gas PLC ('United' or 'the Company') \nDelivery of fast track 3D seismic data on Tullow Oil-operated licence, offshore Jamaica \n \nHighlights\n· Delivery of fast track 3D seismic data following completion of 2,250 sq km survey over Walton-Morant licence ahead of schedule and under budget\n· High-grade Colibri target can be clearly identified on this new dataset\n· Processing and interpretation of data underway - initial opinion is that the product is of excellent quality, and work now focused on further de-risking multiple targets including Colibri\n \nUnited Oil & Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce that the fast track version of the recently acquired 3D seismic dataset over the Walton-Morant licence ('Walton-Morant' or 'the Licence'), offshore Jamaica, has been delivered by the operator, Tullow Jamaica Ltd ('Tullow'). Encouragingly, the high-grade Colibri target, which had previously been mapped on 2D seismic, has been clearly identified on the fast track version of the 3D seismic dataset. This follows the completion of a 2,250 sq km 3D seismic acquisition survey on the Licence (see announcement of 14 May 2018 for further details). United holds a 20% equity interest in the 32,065 sq km Licence, with the remainder held by Tullow, a wholly owned subsidiary of leading independent oil and gas exploration and production company Tullow Oil plc (LSE: TLW).\n \nThe 3D seismic survey, which is the first to have been acquired in Jamaica, forms part of a programme focused on de-risking highly prospective Cretaceous and Tertiary aged clastic and carbonate reservoir targets that have been mapped by Tullow on 2D seismic data. Among these is Colibri, which has been estimated from 2D data to hold gross mean-case prospective resources of over 200mmbbls. The technical case for Colibri has been further strengthened by the recent identification of an active thermogenically derived offshore oil seep to the south of the structure. \n \nInitial opinion is that the fast track 3D ...