Jamaica

Gippsland Offshore is a 50% equity holder in the Jamaica Joint Venture which had been awarded 5 exploration blocks offshore Jamaica covering approximately 14,500km2 of the Walton Basin in the Caribbean Sea.

The award followed the first Jamaica licencing round for 20 years. This project is an exciting exploration venture where:

• Production Sharing Contract (PSC) signed in Jan 2006
  
• JJV holds 5 exploration blocks
  
• 10 of the 11 wells in region recorded oil shows
• Excellent source rocks
• Extensive reef systems, large structures and basin floor fans acting as key play targets for the area
• Excellent PSC terms with the Petroleum Corporation of Jamaica
• Four year exploration program completed in the first year
  
• Multi billion barrel potential in the leads and prospects mapped with the new geophysical data
• Currently bringing in a partner to further define and test the leads and prospects through drilling
  

Updated 25 March 2008

Jamaica Preliminary Farmout Brochure