Westmount Energy Limited Commencement of drilling operations at Sapote-1 (8130J)
26 August 2021 - 4:00PM
UK Regulatory
TIDMWTE
RNS Number : 8130J
Westmount Energy Limited
26 August 2021
26(th) August 2021
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Commencement of drilling operations at Sapote-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, dated 25th August 2021, that the Stena DrillMAX
drillship will commence drilling operations at the Sapote-1
wellsite on the Canje Block, offshore Guyana, on 28(th) August
2021.
As previously announced, Westmount holds an indirect interest in
the Canje Block as a result of its circa 7.2% interest in the
issued share capital of JHI Associates Inc. ("JHI")(1) . The Canje
Block is currently operated by an ExxonMobil subsidiary, Esso
Exploration & Production Guyana Limited (35%), with
TotalEnergies E&P Guyana B.V. (35%), JHI Associates (BVI) Inc.
(17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as
partners.
Sapote-1 is located in the southeast of the Canje Block,
approximately 60kms north of the Campanian and Santonian Maka
Central-1 stacked pay discovery, in a new depositional setting
linked to the Berbice canyon system. Sapote-1 is an independent
multi-layer prospect, which will evaluate several Upper Cretaceous
targets, and is potentially the largest prospect drilled on the
Canje block to date. Drilling of Sapote-1 is anticipated to take 60
days, with results anticipated in late October.
Following a 2018 farm-out to Total and subsequent transactions,
JHI is funded for the 2021 Canje drilling campaign, including the
Sapote-1 well, and multiple additional wells.
(1) Based on JHI's issued share capital inferred from JHI
transaction dated 28(th) June 2021
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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