United Oil and Gas, the minority partner in the hunt for oil in offshore Jamaica, says that it wants to continue to find a drilling partner despite the exit of Tullow Oil, its major partner in the deal.
The current exploration license held by the two companies is valid until the end of next month.
Tullow holds an 80 per cent interest in the Walton-Morant exploration project, while United holds 20 per cent.
They were seeking a third equity partner to finance the drilling phase of the exploration, under what is referred to in industry terms as the 'farming out' of the project.
comments powered by Disqus
All feeds
