Information  X 
Enter a valid email address

Westmount Energy Ld (WTE)

  Print   

Tuesday 02 March, 2021

Westmount Energy Ld

Stena Carron Drillship movement from Bulletwood-1

RNS Number : 9295Q
Westmount Energy Limited
02 March 2021
 

The information contained within this announcement (the "Announcement") is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulations No. 596/2014 which is part of english law by virtue of the European (Withdrawal) Act 2018, as amended. Upon the publication of this Announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

2nd March 2021

 

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

 

Stena Carron Drillship movement from Bulletwood-1 location

 

Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), the AIM-quoted oil and gas investing company focussed on the Guyana-Suriname Basin, observes the  Notice to Mariners No. 030 (2021) published today by the Guyanese Maritime Administration Department indicating that the Stena Carron drillship is moving from the Bulletwood-1 location on the Canje block, offshore Guyana, to a new drilling location on the Stabroek block.

 

Westmount is not a direct participant in the Canje Joint Venture ("Canje JV") and is therefore not aware of the outcome of the Bulletwood-1 well. The Company awaits confirmation and disclosure of the Bulletwood-1 drilling results by the operator or other Canje JV partners. It is the Company's intention to update the market as soon as these drilling results are publicly available.  

 

In the meantime, Westmount looks forward to the planned drilling of the 2nd and 3rd wells on the Canje block (Jabillo-1 and Sapote-1) over the coming months1.


The Bulletwood-1 exploration well is the first well on the Canje block. It was spudded on the 31st December  2020, using the Stena Carron drillship, in a reported water depth of 2,846m. The primary reservoir target was a confined channel complex of Late Cretaceous, Campanian age.  

 

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 up to four wells, including Bulletwood-1, 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 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
 
 
UPDUPUAGWUPGGRP

a d v e r t i s e m e n t