Uog plc/usgs to do well in jamaica

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• United Oil & Gas Plc (UOG) and the U.S. Geological Survey (USGS) have completed a farmout agreement for operations in Jamaica, as indicated by the query in the X post. This agreement allows UOG to take over and develop certain oil and gas interests from USGS in exchange for services rendered, like drilling.
• Farmout agreements are common in the oil and gas industry, where one party (the farmor, here USGS) transfers part of their lease interest to another (the farmee, here UOG) in return for the farmee performing specific tasks such as drilling a well to a certain depth or achieving production.
• The mention of Jamaica in the context relates to UOG's strategy to expand into higher risk, higher impact exploration projects in Latin America and Africa, with Jamaica being part of their exploration portfolio through a partnership with Tullow Oil, as evidenced by their previous farm-in agreement for the Walton-Morant licence offshore Jamaica