Westmount Energy Ltd (LON:WTE, OTCQB: WMELF) has been informed by JHI Associates Inc that the Jabillo-1 well on the Canje block reached target depth without encountering commercial hydrocarbons.
Project operator Exxon will now switch attention to the Sapote-1 well, more than 100 kilometres away, to test the largest prospect to date on the Canje block.
Sapote-1 is located closer to Exxon’s Upper Cretaceous discoveries in the Stabroek block. It is described as an independent multi-layer prospect, which will evaluate several Upper Cretaceous targets.
It is anticipated that Sapote-1 will be spudded in mid-August using the Stena DrillMAX drillship, with results due to follow in October.
Westmount retains an indirect interest in the Canje block via its 7.2% shareholding in JHI Associates, which holds a 17.5% stake in the block – alongside Exxon with 35%, Total with 35% and Mid-Atlantic Oil & Gas Inc with 12.5%.
The Jabillo-1 well was drilled down to 6,475 meters. It was drilled in 2,903 meters of water by the Stena Carron drillship. It will be plugged and abandoned.