9th Mar 2021 11:24
Westmount Energy Ltd - invests in companies which operate in oil & gas related industries - Notes the announcement by the Maritime Administration Department in Guyana that the Stena Carron drillship will commence drilling operations at the Jabillo-1 wellsite on the Canje block, offshore Guyana, on Wednesday. Westmount holds an interest in the Canje block as a result of its 7.7% holding in JHI Associates Inc, which is carrying the drilling of the Jabillo-1 well and is funded for the drilling of additional wells.
Jabillo-1 is the second of three exploration wells scheduled for drilling the Canje block in 2021. The Canje block is currently operated by an Exxon Mobil Corp subsidiary, Esso Exploration & Production Guyana Ltd, which has 35% stake. Total SE also holds 35% stake in the block, with JHI holding 17.5%, and Mid-Atlantic Oil & Gas Inc holding the reminder.
Current stock price for Westmount: 13.50 pence, up 16% on Tuesday
Year-to-date change: down 23%
By Evelina Grecenko; [email protected]
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