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Tullow, United Oil launch seismic programme at Jamaican asset
Tullow Oil and exploration and development company United Oil and Gas have begun seismic acquisition programme at their Walton Morant asset in Jamaica.
Seismic acquisition at the Walton-Morant licence, operated by Tullow's Jamaican subsidiary, began when the Polarcus Adira, a vessel contracted to acquire 2,250 square kilometres of 3D seismic, arrived in Kingston on 23 March which, after a quick turnaround, departed for deployment on 25 March before successfully starting its data acquisition on Wednesday.
United advised investors in Wednesday that seismic acquisition, centred on the high-graded Colibri prospect, was expected to take approximately eight weeks.
United's chief executive, Brian Larkin, said, "We are very pleased with progress to date on our Jamaica licence and we look forward to seeing the initial results. We will update shareholders on completion of the survey in approximately eight weeks. In addition, we continue to evaluate similar high impact licences in neighbouring regions, which we believe could offer transformational growth opportunity, as we look to develop our business".
As of 0840 BST, shares had crept forward 1.49% to 5.10p.