New Report Points To Over 2.4-Billion-Barrel Oil Potential In Jamaica

• An independent evaluation of prospective resources offshore Jamaica prepared by Gaffney Cline & Associates (Gaffney Cline) shows that there is potential for more than 2.4 billion barrels of oil across 11 prospects and leads covering the Walton Morant license. This license is now held 100% by United Oil & Gas, a U.K.-based oil and gas company.
• “United has long held the view that the Walton Morant Basin is a highly prospective and exciting basin, with billion-barrel potential,” said Jonathan Leather, Chief Operating Officer of United Oil and Gas. “This is the second independent report on the license and the first to explore prospects across the full basin.”
• He said results from the report will help the company move towards reaching the goal of being in a position to drill the first exploration well offshore Jamaica for over 40 years.

(Source: Oil Now)