Westmount Energy Limited: Hess Corporation increases stake in Kaieteur Block

Westmount Energy welcomes Hess Corp's increased stake in Kaieteur Block
"We believe this farm-in transaction reflects confidence in the prospective resource potential of the Kaieteur Block and augurs well for the continuing exploration of the area," said Westmount executive chairman Gerard Walsh
Westmount Energy Ltd (LON:WTE) noted that Hess Corporation has increased its interest in the Kaieteur Block, offshore Guyana, to 20% from 15%.
Hess has acquired its additional working interest (WI) from Cataleya Energy.
It follows the drilling of the Tanager-1 well back in November when it made a discovery, deemed as non-commercial on a standalone basis.
London-listed Westmount’s interest in the project is indirect, via shareholdings in minority partners Catelya and Ratio Petroleum (5.3% and 0.04% respectively).

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