Jamaica - Lease Round Promotion

Opportunities in Jamaica

In December 2006, the Petroleum Corporation of Jamaica (PCJ) announced that it will open up offshore and onshore acreage for licensing. PCJ will kick off this latest area offering with a half day road show in Houston on 31 January 2007 at the Hyatt Regency, preceding the NAPE conference. This road show will be followed by a road show in London. On offer will be 12 offshore and four onshore blocks not awarded in the country’s first bid round in 2005. This offering will be Jamaica’s third major attempt to discover hydrocarbons, the last being the bid round in 2005 in which Finder Exploration was awarded five blocks offshore and Rainville was granted three blocks offshore. This latest offering will not be in the form of a formal bid round but rather will be direct negotiations with interested companies. Data packages are available for US$ 55,000 and include: seismic, well data and geological reports.

The key concession terms are as follows:

• Five year primary exploration period;
• 20 year production period;
• Optional 10 year extension of production period;
• 33 1/3% maximum income tax rate and/or possible tax exemption for a number of years;
• No restrictions on production exports or repatriation of capital;
• Ability to recoup production costs, make return on investment, defray tax and royalty obligations, before sharing profit with government;
• An annual sum (to be negotiated) to be spend on training of Jamaican personnel;
• Allowing sale, farm-out or joint venture opportunities to companies;
• Excess gas could be monetized by creating methanol, fertilizer, and urea, CNG, GTL, LNG or GHN.

For further information please contact Chris Matchette-Downes at MDOIL Ltd 68 Glade Road, M. Buckinghamshire, SL7 1DH., England; tel: +44 (0) 7908 208345

Blocks Available

View a map of the 16 Blocks available.

Data and Reports Available from IHS

Basin Monitors

• Pedro Bank
• Walton Sub-basin

• Jamaica General

GEPS Reports: The flagship IHS E&P reporting package, GEPS is established as the market leader in the provision of definitive, up-to-date, accurate and detailed information

PEPS Reports: PEPS is a powerful, searchable online service providing constantly updated upstream economic, fiscal and commercial data and analysis.

Introducing the Caribbean/Central America Area Coordinator: Ron Harper

Ron Harper is the Area Coordinator for the Caribbean/Central America region for IHS in Houston. In this role, hes has responsibility for writing the GEPS reports for the area, as well as contributing to the International Oil Letter on a regular basis. Additionally, he publishes articles in well-known publications such as The American Oil and Gas Reporter, the PESGB, and the Oil & Gas Investor. He also serves as the Coordinator for the Latin America Industry Forum in Houston. Ron Harper joined IHS Energy in Houston in October 2003 after working for Marathon Oil Company in Houston for thirteen years. At Marathon he held the position of International Scout for 9 years and was an Industry Analyst responsible for Competitive Intelligence for four years. Prior to Marathon, he was self-employed in the service industry of the Oklahoma oil patch and with Pipeline Eastern Pipeline Co. in the Oklahoma Panhandle. Ron attend the University of Houston and Southern Nazarene University where he majored in Psychology/Sociology. Based in our Houston office Ron can be contacted at: ron.harper@ihs.com.