United Oil & Gas has told investors that its Colibri exploration prospect, offshore Jamaica, has been estimated independently to host some 229-million barrels of oil potential.

A new review of the Walton-Morant licence by consultant ERC Equipoise has upgraded the view of the exploration partnership with Tullow Oil.

Colibri is only one of a number of high impact areas seen within Walton-Morant, and United noted that the latest assessment is encouraging as a farm-out process progresses to bring in additional partners to the licence.

United is confident that the farm-out process will allow it to participate in the Jamaica opportunity with low-cost exposure.