Posting Date: 09/Sep/2020
United Oil and Gas’ Colibri prospect is located in the Walton Basin of the Walton Morant licence area, offshore Jamaica.
United Oil and Gas’ Colibri prospect is located in the Walton Basin of the Walton Morant licence area, offshore Jamaica. The Colibri prospect was discovered by Tullow Jamaica, in 1983. Tullow Jamaica, the previous operator of the Walton Morant licence area, sold a 20% equity interest in the licence area to United Oil and Gas in November 2017. The seismic study on the Walton Morant licence area around the Colibri prospect was completed in May 2018. It was the first 3D seismic survey that was performed in Jamaica. The resource estimate of Colibri was upgraded to prospect by ERC Equipoise (ERCE) in February 2019. Tullow exited the licence and transferred the remaining 80% equity to United in July 2020. The Jamaican Government approved the development of the Walton Morant licence area in July 2020 with United Oil and Gas as 100% equity holder and operator. The company received an 18-month extension to the initial exploration period up to January 2022 to take the drill-or-drop decision. During the period, the work programme will continue with de-risking of the prospects across the licence area, which includes the Colibri, Oriole and Moonraker prospects, as well as Tody, Euphonia and Streamertail lead.