United Oil and Gas Plc announced that following the announcement made on 22 January 2024, the Jamaican Ministry of Science, Energy, Telecommunications and Transport ("MSETT") have signed an amendment to the Production Sharing Agreement ("PSA") therefore confirming the extension of the Walton Morant Licence to 31 January 2026. During this extension, United will undertake additional technical studies including piston core sampling and seismic reprocessing, aimed at further de-risking the petroleum system and better defining the prospects and leads identified on the Licence. With the licence extension confirmed, United can now build confidently on the farmout process carried out to date and re-engage with the recent positive interest that has been shown by other parties in participating in this high impact exploration opportunity, in a region with immense potential.

The Company and its advisors, Energy Advisors Group (Houston, Texas) and Envoi (London, UK), will now continue in efforts to secure a partner, in a market that the Board believes holds renewed interest in exploration opportunities worldwide, driven by the strong future demand for oil and gas.