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Westmount jubilant as drilling begins at Guyanese well
StockMarketWire.com
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Westmount Energy has announced drilling has commenced at the Bulletwood-1 wellsite on the Canje Block, 180km offshore of Guyana.
Westmount holds a 7.2% stake in the issued share capital of JHI Associates, which is one of three companies working with ExxonMobil at the site.
Drilling at Bulletwood-1, the first of a multi-well operation in the area, began 1 January 2021, after the arrival of the Stena Carron drillship was confirmed by the Guyanese Maritime Administration Department.
Westmount added that the Bulletwood-1 site is a 500 MMbbl oil prospect with drilling operations forecast to be completed on or before 23rd February 2021.
Gerard Walsh, chairman of Westmount, speculated transformational value changes for the company, should operations in the region be successful.
As well as Bulletwood-1, JHI is carried for three additional wells and is funded for the possibility of more.
At 2:44pm: (LON:WTE) Westmount Energy Ltd share price was 0p at 21p
Story provided by StockMarketWire.com
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