Colter13 Nov 2018 07:15
Wick December hopefully and them Colter.
We should have Jamaica news before end of the year.
United Oil & Gas PLC CEO, Brian Larkin, said: "With OPRED advising the OGA of its in-principle agreement to the issue of the relevant consents, a drilling unit secured and the rig site survey completed, the Colter appraisal well remains on course to be the second well in which United will have participated since our Readmission to London's Main market in Q3 2017. As with our first well, the successful Podere Maiar on the Podere Gallina licence onshore Italy, Colter has an excellent address, lying on the same play as Wytch Farm, and will appraise a historic discovery, which we believe could hold in aggregate up to 19mmbbls of gross contingent and prospective resources. With this in mind, I look forward to providing further updates on preparations to drill the Colter well in the coming weeks.
"As well as Colter, activity continues apace across our existing licence base, all of which is centred on exposing our shareholders to a continuous pipeline of high-impact events with significant re-rating potential. Shareholders can look forward to further updates on the Walton-Morant licence offshore Jamaica, which includes the high grade Colibri target. As previously reported, early indications from the recently acquired 3D seismic data have been highly encouraging. The results from the ongoing processing and interpretation work will inform the forward plan for the Tullow Oil operated licence, including the preparation of a CPR. In the North Sea, we have received significant interest in our Crown oil discovery, which is located in what is proving to be a hotspot in terms of corporate activity. Together with a potential well at Waddock Cross in the Wessex Basin in H1 2019 and our ongoing evaluation of a number of new ventures, we are confident the excellent momentum behind United will, at the very least, be maintained in the months ahead and beyond"