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.
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Guyana s Maritime Administration Department has said 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.
The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI Associates (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.
Previously published information by JHI indicates that Bulletwood-1 is a 500 million bbl oil prospect targeting a Liza look-alike, confined channel complex, of Late Cretaceous, Campanian, age. Based upon the announcement by the Maritime Administration Department drilling operations are scheduled to be completed at Bulletwood-1 on or before 23 February 2021.
Tue, 22nd Dec 2020 18:06
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Lekoil Ltd - Lagos-headquartered oil exploration and production company with interests in Nigeria and offshore Namibia - Says arguments made by Metallon Corp Ltd, which requisitioned general meeting of Lekoil shareholders, are specious and designed to distract from their true intentions . Lekoil says it has never been against making board changes. The board considers the requisitioned resolutions to be no more than an ill-disguised attempt by Metallon to gain control of your company without paying a price to all shareholders, Lekoil adds. Company explains that should Metallon s proposals be passed, the shareholder s appointees will represent 50% of Lekoil s board and will also have a casting vote. The board does not believe that it would be appropriate for a 15% shareholder, to enjoy that level of board rep
UK TRADING UPDATE SUMMARY: Lekoil Fires Back At Shareholder Metallon
Tue, 22nd Dec 2020 18:06
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Lekoil Ltd - Lagos-headquartered oil exploration and production company with interests in Nigeria and offshore Namibia - Says arguments made by Metallon Corp Ltd, which requisitioned general meeting of Lekoil shareholders, are specious and designed to distract from their true intentions . Lekoil says it has never been against making board changes. The board considers the requisitioned resolutions to be no more than an ill-disguised attempt by Metallon to gain control of your company without paying a price to all shareholders, Lekoil adds. Company explains that should Metallon s proposals be passed, the shareholder s appointees will represent 50% of Lekoil s board and will also have a casting vote. The board does not believe that it would
22 December 2020 | 09:14am
StockMarketWire.com - Oil company Westmount Energy said it had paid $0.4 million to up its stake in is JHI Associates to around 7.2%.
JHI was a private, Ontario-registered, company established in 2014 focused on oil exploration opportunities in the emerging Guyana-Suriname Basin.
It s main asset is a 17.5% carried interest in the Canje Block covering over 4,800 square kilometres, offshore Guyana.
At 9:14am: [LON:WTE] Westmount Energy Ltd share price was 0p at 21p
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