Psychic Powersee February 29th 2024 inbox

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Alternatives: Other majors or mid-caps might offer better terms, but CNOOC's financial firepower is a plus for a cash-constrained junior.

Overall: For a small company like UOG in farm-out mode with a promising but capital-intensive asset, partnering with CNOOC looks strategically sound and value-accretive if structured well (e.g., carry + retained upside). It could be transformative, similar to how other juniors have used NOC farm-outs to unlock frontier potential. Watch for updates on Jamaica data room strength and negotiations—positive survey results improve leverage

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Yep Joan Yu was at Jampro Uog promotion uog is in safe hands .They are fully funded through 2028 as for me I had my four points from 5 points spread with a partial coming from Jamaica...
Gop usa 2024 1 pt
Tottenham Hotspur wins europa cup 2025 1 pt
Dnc wins fl gubernatorial election 2026 projected 1 pt
And jamaica attain meaning discover a well 1 from 2 4/5 total points...
On feb29 2024 i made 4 preditions,each prediction worth 1 point except for the last one worth 2points .They are #1 Gop wins 2024 national Election worth 1 point #2 Tottenham hotspur wins 2025 europa cup worth 1 point #3 dnc wins fl governor race 2026worth 1 point #4 Jamaica attains petroleum well worth 2 points now for predictions to deem accurate i need 4 points all 4points by feb 2028

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25% of all jamaicans has irish blood.Myself has 2.5% why didnt Tullow commit to a Well? Afro-Irish is Jamaica 2nd biggest ethnic group behind Ashanti of Ghana for god sake why did Tullow just gave away the asset for a Nomial Fee? They could have hold the license like "United, have and get Multiple Extentions and what makes this a Clanger! They went to guyana withouth achieving anything either.The Final surveys UOG did cost 2.33 million

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In this tailored scenario, United Oil & Gas (UOG) farms out an 80% working interest (WI) to a major operator who fully carries UOG's costs to drill a successful test well. Following the discovery, the operator’s corporate conditions worsen and they assign their 80% WI back to UOG for just \(\$1\). UOG then partners directly with the Government of Jamaica (GoJ) to transition the asset from an appraised well to eventual hydrocarbon extraction.

1. The Farm-out and JV Terms

• The Deal Structure: UOG secures an international operator for the 22,400-square-kilometre Walton-Morant block. The operator acquires an 80% WI in exchange for a "carry," meaning they pay 100% of the costs for acquiring 3D seismic and drilling the initial high-impact exploration well. UOG retains a free-carried 20% WI.
• Royalty Provisions: The Production Sharing Agreement (PSA) with the GoJ requires a standard royalty (e.g., 10%) off the top. The divesting operator might negotiate a nominal 1% overriding royalty interest (ORRI) or a minor contingent cash bonus payable only if/when the field eventually reaches sustained commercial production.

2. The Success and the \(\$1\) Reversion

• The Test Well: The JV drills a prospect testing the Cretaceous reservoirs. The test well encounters light-to-medium sweet crude, proving an active petroleum system on the block.
• The \(\$1\) Reversion: Global market conditions deteriorate, causing corporate financial challenges or strategic M&A for the operator. Unwilling to risk the heavy multi-billion dollar capital expenditure needed for multi-well appraisal and production facilities, the operator exercises a contractual "exit ramp." They assign their 80% WI back to UOG for a nominal fee (e.g., \(\$1\)) to avoid ongoing decommissioning or work commitments.

3. Transition to Appraisal and Extraction

• Direct GoJ Partnership: UOG now holds 100% WI. Rather than bringing in a single massive major operator, UOG partners strategically with the GoJ (acting via the Petroleum Corporation of Jamaica - PCJ). This model might grant the GoJ a back-in right to take a 10–20% state participating interest, aligning national interests directly with the company.
• Appraisal Phase: UOG utilizes the revenue or new equity generated from the proven discovery to finance the appraisal phase. This involves shooting additional high-definition 3D seismic and drilling 2 to 3 appraisal wells to delineate the field limits and prepare a formal Field Development Plan (FDP).
• Extraction and Final Investment Decision (FID): Once the FDP is approved, UOG and the GoJ secure project financing and engineering contractors to build Floating Production, Storage, and Offloading (FPSO) units and subsea pipelines for extraction.In this tailored scenario, United Oil & Gas (UOG) farms out an 80% working interest (WI) to a major operator who fully carries UOG's costs to drill a successful test well. Following the discovery, the operator’s corporate conditions worsen and they assign their 80% WI back to UOG for just \(\$1\). UOG then partners directly with the Government of Jamaica (GoJ) to transition the asset from an appraised well to eventual hydrocarbon extraction.
  
  1. The Farm-out and JV Terms
• The Deal Structure: UOG secures an international operator for the 22,400-square-kilometre Walton-Morant block. The operator acquires an 80% WI in exchange for a "carry," meaning they pay 100% of the costs for acquiring 3D seismic and drilling the initial high-impact exploration well. UOG retains a free-carried 20% WI.
• Royalty Provisions: The Production Sharing Agreement (PSA) with the GoJ requires a standard royalty (e.g., 10%) off the top. The divesting operator might negotiate a nominal 1% overriding royalty interest (ORRI) or a minor contingent cash bonus payable only if/when the field eventually reaches sustained commercial production.
• 2. The Success and the \(\$1\) Reversion
• The Test Well: The JV drills a prospect testing the Cretaceous reservoirs. The test well encounters light-to-medium sweet crude, proving an active petroleum system on the block.
• The \(\$1\) Reversion: Global market conditions deteriorate, causing corporate financial challenges or strategic M&A for the operator. Unwilling to risk the heavy multi-billion dollar capital expenditure needed for multi-well appraisal and production facilities, the operator exercises a contractual "exit ramp." They assign their 80% WI back to UOG for a nominal fee (e.g., \(\$1\)) to avoid ongoing decommissioning or work commitments.
• 3. Transition to Appraisal and Extraction
• Direct GoJ Partnership: UOG now holds 100% WI. Rather than bringing in a single massive major operator, UOG partners strategically with the GoJ (acting via the Petroleum Corporation of Jamaica - PCJ). This model might grant the GoJ a back-in right to take a 10–20% state participating interest, aligning national interests directly with the company.
• Appraisal Phase: UOG utilizes the revenue or new equity generated from the proven discovery to finance the appraisal phase. This involves shooting additional high-definition 3D seismic and drilling 2 to 3 appraisal wells to delineate the field limits and prepare a formal Field Development Plan (FDP).
• Extraction and Final Investment Decision (FID): Once the FDP is approved, UOG and the GoJ secure project financing and engineering contractors to build Floating Production, Storage, and Offloading (FPSO) units and subsea pipelines for extraction.

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All 4 of my predictions are destine to come true "foretold.
david jolly cant lose in fl gubernatorial election making it 4/5 for me.
#1Gop won usa election Trifecta 1 point
#2Tottenham Hotspur won Uefa Europa Cup 1 point
#3 With Elections scheduled for nov 3 Jolly Leading in poll 47% to 42% projected 1 point
#4 C4 & C5 Hydrocarbon this prediction is worth 2 points so i have a partial 1 point
4/5 projected by thanksgiving 26

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KINGSTON, Jamaica, Apr. 16, CMC – Jamaica could move to drill for oil off the coast of the eastern parish of St Thomas within the next two years following encouraging early findings from a recent geo-chemical survey.

https://cananewsonline.com/main/wp-c...s-300x220.jpegThe study, conducted by independent oil company United Oil and Gas, confirmed the presence of hydrocarbons in offshore soil samples — a key indicator of potential petroleum deposits.

According to Energy Minister Daryl Vaz, the results represent an important step forward but cautioned that Jamaica remains some distance away from actual production.

“The results are very positive, but they are positive scientifically. They have seen traces; they haven’t seen or touched the real deal,” Vaz said during a post-Cabinet press briefing on Wednesday.

He said while the findings have generated interest, significant investment will be required to move to the next phase of exploration.

Drilling a single well is estimated to cost between US$60 million and US$80 million, with at least 14 wells likely needed. The Government is now seeking international partners to help finance the venture.

“It’s big money for us, but in the oil business that is not big money,” Vaz said.

He added that representatives of United Oil and Gas have already begun engaging potential investors and are seeing growing interest from major drilling companies.

“These are companies that would not have answered their calls a year ago,” he noted.

Even if funding is secured, Vaz said drilling would not begin before late 2027 or early 2028. He stressed that any move toward drilling would be subject to environmental and social impact assessments, stakeholder consultations and Cabinet approval.

United Oil and Gas currently holds only an exploration licence, meaning further negotiations with the Government will be required before any drilling agreement is finalised.

“I remain cautiously optimistic but definitely encouraged,” Vaz said, pointing to the potential for the project to provide a much-needed boost to the country.

CMC/jm/kb/2026

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• United Oil presses Jamaica farm-out as Strait of Hormuz ‘closure’ reprices prospect

BusinessJune 26 2026United Oil presses Jamaica farm-out as Strait of Hormuz ‘closure’ reprices prospect

Updated June 26 20261 min read https://jamaica-gleaner.com/sites/de...?itok=H0xNbNb7
Offshore oil exploration firm United Oil & Gas Plc expects to secure a joint-venture partner by October, according to its full-year results published this week.

The company cited the disruption to global oil supply caused by the “effective closure” of the Strait of Hormuz as a factor sharpening investor interest in its Jamaica licence.

"Our farm-out strategy has gained momentum," Chief Executive Brian Larkin said. "The strategic value of Atlantic-facing acreage with direct access to major markets has been fundamentally repriced, and Jamaica sits squarely in that category."

The outbreak of conflict with Iran in late February 2026 and the effective closure of the Strait of Hormuz, Larkin stated, disrupted roughly 20 per cent of global sea-borne oil and liquefied natural gas supply. Nations increasingly want supplies outside the Gulf region, he added.

"In this environment the previous oversupply in oil markets has been eradicated," Larkin said. "Frontier exploration returned to the top of the agenda for the world's major oil companies during 2025 and into 2026."

The London-listed explorer is targeting a farm-out agreement on the Walton Morant licence — a 22,400-square-kilometre offshore block south of Jamaica — by “October 2026”, with deal terms expected to cover back costs and all forward work programme expenses. The company has interested parties under non-disclosure agreements (NDA), though it has not identified them.

"We are encouraged by the calibre of the counterparties under NDA, reflecting both the quality of the asset and the work we have done to advance it," Larkin said.

The farm-out pitch has been strengthened by results from a seabed survey completed in February 2026 across the licence area by specialist contractor TDI Brooks International aboard the research vessel Gyre. The survey identified butane and pentane hydrocarbons in seabed cores. An independent risking study published in September 2025 projected that a successful survey outcome could improve drilling odds on two key prospects: from one-in-five to one-in-three for the Colibri zone, and from one-in-eight to one-in-five for the Oriole zone.

The Walton Morant licence contains an estimated seven billion barrels of unrisked mean prospective resources. An independent assessment by Gaffney Cline and Associates attributed more than 2.4 billion barrels of recoverable unrisked mean prospective resources across five prospect zones. The licence runs to January 2028.

United reported a loss after tax of US$1.25 million for the year ended December 2025, narrowing from a loss of US$2.4 million in 2024, and held cash of US$1.7 million at year end.



business@gleanerjm.com