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United Oil & Gas says 229 million barrels of oil potential estimated offshore Jamaica

United Oil & Gas has told investors that its Colibri exploration prospect, offshore Jamaica, has been estimated independently to host some 229-million barrels of oil potential.
 
A new review of the Walton-Morant licence by consultant ERC Equipoise has upgraded the view of the exploration partnership with Tullow Oil.
 
Colibri is only one of a number of high impact areas seen within Walton-Morant, and United noted that the latest assessment is encouraging as a farm-out process progresses to bring in additional partners to the licence.
 
United is confident that the farm-out process will allow it to participate in the Jamaica opportunity with low-cost exposure.


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