9th March 2021
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Commencement of drilling operations at Jabillo-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, that the Stena Carron drillship will commence drilling operations at the Jabillo-1 wellsite on the Canje Block, offshore Guyana on the 10th March 2021.
Jabillo-1 is the second of 3 exploration wells scheduled for drilling 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. ("JHI")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 30th August 2019
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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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