Westmount Energy Ltd - Jersey-headquartered investor in oil and gas industries - Investee JHI Associates Inc confirms that the Sapote-1 well on the Canje block, offshore Guyana, was safely drilled in 2,549 meters of water by the Stena DrillMAX drillship to a total depth of 6,758 meters. However, well encounters non-commercial hydrocarbons in one of the deeper exploration targets. "While this outcome from the Westmount portfolio is below expectations, the results to date provide encouragement," says Executive Chair Gerard Walsh.
Current stock price: 7.75 pence, down 35%
Year-to-date change: down 56%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Westmount Engy. (WTE)