Westmount Energy awaits imminent start to Jabillo well programme
The second of three Guyana exploration wells is set to test a 1bn barrel prospect
Company
LON:WTE
Westmount Energy Limited is focused on investing in the prolific Guyana-Suriname Basin, which is considered to be a major emerging hydrocarbon province. Between May 2015 and May 2020 the basin has delivered 20 significant discoveries with 18 of these discoveries, and reported discovered recoverable resources in excess of 8 billion oil-equivalent barrels, attributable to the ExxonMobil operated, Stabroek Block, offshore Guyana. Westmount has invested in 4 companies which have participating interests in 3 blocks (Canje, Kaieteur and Orinduik Blocks) immediately adjacent to the Stabroek Block.
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The second of three Guyana exploration wells is set to test a 1bn barrel prospect
“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
The investor holds an indirect interest in the Canje block, where Exxon has just drilled the Bulletwood-1 exploration well.
Drilling began earlier this month and results are expected by mid-February
"Bulletwood-1 is the first well in a multi-well, fully funded, drilling campaign being operated by ExxonMobil on the Canje Block"
The compoany now owns 7.2% of the Ontario-registered company, which has some fairly immediate drilling milestones coming up
“Where the basin is today, this is not the typical junior resource story"
Westmount has investments in one of the oil industry’s major exploration hotpots
Tanager-1 is a 256.2mln barrel exploration target offshore Guyana.
Westmount has built a portfolio of investments in exploration ventures offshore Guyana, where Exxon has made big new oil discoveries
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