A £500,000 share placing keeps the Walton-Morant hunt alive as independent geologists rate Jamaica’s flagship prospect among the best frontier odds anywhere — but the make-or-break farm-out deal is still to be signed.

KINGSTON, Jamaica —Tuesday, July 7, 2026 -  By Calvin G. Brown  | United Oil & Gas PLC has raised £500,000 in fresh working capital through a placing of 250 million new ordinary shares at 0.20 pence each, as the AIM-listed explorer drives towards an October deadline to secure the drilling partner that could finally answer Jamaica’s 70-year-old question: is there commercial oil beneath the island’s southern waters?