United Oil & Gas

#UOG Confirmation of receipt of USD $591,595 from EGPC as anticipated. Discussions remain ongoing regarding a small outstanding balance, further updates to follow as appropriate. Click here to read: https://lnkd.in/dKef97_j

#UOG Numerous Prospects & Leads in Walton-Morant, Jamaica 🔹Identification of 21 prospects & leads thus far 🔹Including several with potential resources exceeding 500 million barrels each 🔹Providing a strong pipeline for future exploration & development

#UOG Iman Hill talking about our Jamaican licence: 🔹Comparable to prolific Stabroek Block in Guyana 🔹A single 400 MMBO prospect development would demonstrate NPV10 after tax of $4.6B & IRR of 45% 🔹Returns could be boosted further with FSPOs & Early Production Systems

#UOG has noted the recent rumours circulating in Jamaica media regarding our Walton Morant licence

#UOG "We do not have a 1 prospect wonder at our Walton-Morant license 🔹 There are a number of prospects here & many of them are up to a billion barrels 🔹 $40m has been spent to date to interrogate the data & do the proper work to understand the risks that we face"

#UOG "We are confident that we have all of the elements that are required to make a discovery in Jamaica. We have seismic evidence for hydrocarbon migration, reservoir, trap & seal. Onshore outcrop analogues also show us that we have source rocks present reservoir rock & seals."

#UOG is pleased to share a Research Note by Tennyson Securities "An ongoing farm-out process for Walton-Morant licence has attracted interest from major oil industry players & is expected to yield funding to drill the first exploration well." Click here to read: https://lnkd.in/gi5CRyt8

#UOG "At $10 a barrel, we could expect up to $70 billion of NPV from the 7 billion barrels of mean prospective resources. When we shoot more 3D & reprocess some of the data, it is undoubted that the number of prospects & leads & that 7 million barrel number is just going to grow."

#UOG Non-Exec Director Iman Hill talks about the economics of our Walton-Morant licence: 🔹 Potential NPV10 after tax $4.6 billion 🔹 IRR 45% 🔹 Possible development of an early production system to generate cash flow early to fund further development would take IRR to over 60%

#UOG "You can see the relative geographic proximity between Jamaica & Guyana. In many parameters, there are so many similarities between the two areas. 🔹 The Resource potential - 11 billion barrels in Guyana, 7 billion barrels so far in Walton Morant."