Westmount Energy Limited Stena Carron Drillship movement from Bulletwood-1 (9295Q)
02 Marzo 2021 - 12:17PM
UK Regulatory
TIDMWTE
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.
2(nd) 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 2(nd) and 3(rd) wells on the Canje block (Jabillo-1 and
Sapote-1) over the coming months(1) .
The Bulletwood-1 exploration well is the first well on the Canje
block. It was spudded on the 31(st) 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 30(th) 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)
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END
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March 02, 2021 13:17 ET (18:17 GMT)
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