Westmount Energy Limited Bulletwood-1 Results (1065R)
04 Marzo 2021 - 1:00AM
UK Regulatory
TIDMWTE
RNS Number : 1065R
Westmount Energy Limited
04 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 (EU) 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.
4(th) March 2021
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Bulletwood-1 Results
Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), the
AIM-quoted oil and gas investing company focussed on the
Guyana-Suriname Basin reports that, further to its announcement on
2 March 2021, it has received a shareholder communication from its
investee company, JHI Associates Inc. ("JHI"), which confirms that
the first well on the Canje Block, Bulletwood-1, was safely drilled
in 2,846 meters of water by the Stena Carron drillship to its
planned target depth of 6,690 meters. The well encountered quality
reservoirs but non-commercial hydrocarbons(1,2) .
Data collection at Bulletwood-1 confirms the presence of the
Guyana-Suriname Basin petroleum system and the potential
prospectivity of the Canje Block. Bulletwood-1 is the first of
three wells scheduled to be drilled on the block in 2021 with
drilling of the independent prospects Jabillo-1 and Sapote-1 to
follow over the coming months(1) .
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(3) . 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 shareholder communication dated 3(rd) March, 2021
(2) ExxonMobil's 2021 Investor Day Presentation
(3) 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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