(Westmount Energy, 7.June.2021) — Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF) noted the announcement by the Maritime Administration Department, Guyana, that the Stena Carron drillship will re-commence exploration drilling operations at the Jabillo-1 wellsite on the Canje Block, offshore Guyana on the 5 June 2021.
Jabillo-1 is the second of 3 exploration wells scheduled for drilling on 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.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 30 August 2019