Westmount Energy Ltd - South America-focused energy investor - Notes announcement by Maritime Administration Department of Guyana that the Stena Carron drillship has arrived on location at the Bulletwood-1 well site on the Canje Block, offshore Guyana and has commenced drilling operations. Westmount holds an indirect interest in the Canje Block as a result of its 7.2% interest in issued share capital of JHI Associates Inc.
"Bulletwood-1 is the first well in a multi-well, fully funded, drilling campaign being operated by ExxonMobil on the Canje Block over the next 6 months or so. This campaign will evaluate high impact Upper Cretaceous prospects in the proven Liza play fairway with, in some cases, additional deeper reservoir targets. It also provides Westmount shareholders exposure to a portfolio of drilling outcomes over a compressed time-frame. Success from some of the wells in this portfolio could result in transformational value changes for Westmount," says Chair Gerard Walsh.
Current stock price: 20.0 pence
Year-to-date change: up 14%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Westmount Engy. (WTE)