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Westmount Energy has announced that it has purchased 287,500 common shares in JHI Associates Inc. at an aggregate cost of CAD$718,750. JHI is a private, Ontario-registered, company focused on oil exploration opportunities in the emerging Guyana-Suriname Basin. The company s main asset is a 17.5% carried interest in the Canje Block covering over 4,800 sq kms, offshore Guyana.
Commencement of drilling operations at Bulletwood-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, dated 1
st January 2021, that the Stena Carron drillship has arrived on location at the Bulletwood-1 wellsite on the Canje Block, offshore Guyana and has commenced drilling operations.
As previously announced, Westmount holds an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share capital of JHI Associates Inc. ( JHI )
1. 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.
The auction call period has been extended in this security by 5 minutes.
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