Westmount Energy Ltd - oil and gas investing company focussed on high impact drilling outcomes in emerging basins - Buys 300,000 shares in Africa Oil Corp, for an aggregate cost of GBP538,633. Says that this purchase will increase its indirect exposure to exploration drilling on the Canje and Orinduik blocks, offshore Guyana, from next year onwards. Adds that the acquisition will increase its liquid exposure to the scheduled well, appraisal drilling and testing program on the Venus discovery, offshore Namibia, this year.
Westmount's holding represents approximately 0.1% of the shares in Africa Oil as of March 31.
Current stock price: 1.96 pence
12-month change: down 48%
By Holly Beveridge, Alliance News reporter
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Westmount Engy. (WTE)