Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Commencement of drilling operations at Jabillo-1

9th Mar 2021 07:00

RNS Number : 5614R
Westmount Energy Limited
09 March 2021
 

 

 

9th March 2021

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

Commencement of drilling operations at Jabillo-1, Canje Block, offshore Guyana

Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF) is pleased to note the announcement by the Maritime Administration Department, Guyana, that the Stena Carron drillship will commence drilling operations at the Jabillo-1 wellsite on the Canje Block, offshore Guyana on the 10th March 2021.

 

Jabillo-1 is the second of 3 exploration wells scheduled for drilling the Canje block in 20211. Previously published information indicates that Jabillo-1 is a circa 1,000 MMbbl oil prospect targeting a Late Cretaceous, Liza-age equivalent, basin floor fan1.

 

Westmount holds an indirect interest in the Canje Block as a result of its circa 7.7% interest in the issued share capital of JHI Associates Inc. ("JHI")2. Following a 2018 farm-out to Total, JHI is carried for the drilling of the Jabillo-1 well and is funded for the drilling of additional wells.

 

The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.

 

1 JHI's Website https://www.jhiassociates.com

2 Based on JHI's issued share capital as at 30th August 2019

 

 

 

For further information, please contact:

 

Westmount Energy Limited www.westmountenergy.com

David King, Director Tel: +44 (0) 1534 823059

Anita Weaver

 

Cenkos Securities plc (Nomad and Broker) Tel: +44 (0) 20 7397 8900

Nicholas Wells/Neil McDonald (Corporate Finance)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDDZGGFZRMGMZZ

Related Shares:

Westmount Engy.
FTSE 100 Latest
Value8,871.31
Change61.57