Westmount Energy Ltd (LON:WTE, OTCCQ:WMELF) has relayed the results of the Bulletwood exploration well, on the Canje block offshore Guyana, which encountered quality reservoirs but sub-commercial volumes of hydrocarbons.
The company received the results via a shareholder communication from JHI Associates which has a 17.5% stake in the Exxon operated project. Westmount holds a 7.7% shareholding in JHI, giving it an indirect interest.
JHI, as a result of a 2018 farm-out deal with Total, was carried in the funding of the well, as will be for further wells planned on the Canje Block.
“Data collection at Bulletwood-1 confirms the presence of the Guyana-Suriname Basin petroleum system and the potential prospectivity of the Canje Block,” Westmount noted.
“Bulletwood-1 is the first of three wells scheduled to be drilled on the block in 2021 with drilling of the independent prospects Jabillo-1 and Sapote-1 to follow over the coming months.”
Bulletwood was located in 2,846 metres of water, was drilled down to a planned target depth of 6,690 metres.