RE: Rns out26 Jun 2025 15:25
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At the same time, we made important progress across our portfolio. Early in 2024, United secured a two-year extension to our Walton Morant licence in Jamaica, a significant milestone that extended our licence through to January 2026. This was further strengthened post-period end, with a second two-year extension granted in March 2025, securing tenure of licence through to January 2028 on what is now our most material asset.
The Company's full focus is now on Jamaica. With over 40 leads mapped in a proven working petroleum system, Walton Morant offers a rare combination of frontier exploration upside, regional infrastructure proximity, and a stable jurisdiction close to the USA.
Appetite for high-impact exploration is returning. Against this backdrop, our farm-out strategy has gained renewed momentum and have several parties under NDA.
Permitting activities for the next phase of technical de-risking are advancing. Regulatory approvals for a piston core sampling programme are progressing well, and we look forward to providing further updates in the coming months.
With a streamlined portfolio, strengthened asset base, and clear strategic focus, United enters the second half of 2025 well positioned to deliver long-term value for shareholders."