United Oil completes second stage of Jamaica exploration

23rd Feb 2026 15:59

(Sharecast News) - United Oil & Gas announced on Monday that it has completed stage two of its surface geochemical exploration programme offshore Jamaica and started stage three piston coring operations on the Walton-Morant licence, marking what it described as the critical phase of the campaign.

The AIM-traded company said seabed heat-flow measurements under stage two had now been successfully completed and would contribute to future geological modelling.

Data from the earlier stage one high-resolution multibeam echosounder survey had been integrated with existing seismic datasets, resulting in the identification of multiple seabed features of interest and the selection of 42 optimal piston core locations for the next phase.

Stage three piston coring was now underway, with up to 42 cores planned, primarily within the Walton Basin and close to the Colibri, Streamertail and Oriole prospects, where existing 3D seismic and supporting data indicate potential hydrocarbon migration.

Select locations in the Morant Basin would also be cored.

The programme was designed to recover seabed sediment samples for geochemical analysis to test for thermogenic hydrocarbons, which, if identified, would provide direct physical evidence of an active petroleum system offshore Jamaica.

Piston coring operations were expected to take around one week, subject to weather conditions, after which samples would be shipped to Houston, Texas for laboratory analysis.

The firm said the surface geochemical exploration programme was a key step in further de-risking the Walton-Morant licence and advancing technical evaluation and commercial discussions.

"The completion of heat-flow measurements and commencement of piston coring marks a major step forward in our Jamaica exploration programme," said chief executive Brian Larkin.

"The integration of the acquired data has allowed us to optimise coring locations in the Walton Basin, including near our key Colibri, Streamertail and Oriole prospects, as well as at key locations in the Morant Basin.

"Piston coring is the defining phase of this programme, providing the opportunity to physically confirm the presence of thermogenic hydrocarbons offshore Jamaica."

At 1241 GMT, shares in United Oil & Gas were down 6.41% at 0.18p.

Reporting by Josh White for Sharecast.com.