Commencement of drilling operations at Jabillo-1

RNS Number : 5614R

Westmount Energy Limited

09 March 2021

 

9^th 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 10^th 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: [phone]

Anita Weaver 

Cenkos Securities plc ( Nomad and Broker)  Tel: [phone]

Nicholas Wells/Neil McDonald (Corporate Finance)

 

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