United Oil & Gas loss widens to US$800,000 but explorer pitches Jamaica as alternative to Middle East risk

United Oil & Gas Plc, the London-listed explorer seeking a partner for its offshore Jamaican acreage, reported that first-half losses more than doubled as it advanced exploration work on its offshore licence. The company posted a net loss of US$800,864 for the six months ended June 30, compared with a loss of US$338,539 a year earlier. The company, however, argued that geopolitical tensions in the Middle East are increasing the attractiveness of frontier opportunities in Jamaica.