Suriname and Guyana
Press Release

Guyana-Suriname basin 'continues to be a global hotspot for exploration activity'

Bnamericas Published: Tuesday, November 22, 2022

Westmount Energy release

The Company is pleased to announce its Final Results for the year ended 30 June 2022, and hereby gives notice that the Annual General Meeting of Westmount Energy Limited will be held at No 2 The Forum, Grenville Street, St Helier, Jersey JE1 4HH, Channel Islands on 8 December 2022 at 11.00.

Copies of the Company's results and Notice of AGM are available on the Company's website, www.westmountenergy.com, and will be posted to shareholders today.

CHAIRMAN'S REVIEW

2022 Highlights 

· Cash balance of £1.0M at 30 June 2022; no debt

· Indirect exposure to the recently spudded Gazania-1 well, targeting 300 MMbbls light oil resource, in Block 2B, Orange Basin, South Africa

· Drilling interregnum with respect to the Canje and Kaieteur blocks, offshore Guyana, while environmental permitting is progressing with a view to potential new drilling programs on these blocks from 2023

· Sector consolidation manoeuvres - proposed 'all paper' acquisition of JHI Associates Inc. by Eco (Atlantic) Oil & Gas Ltd announced, but subsequently terminated

The full release is available here.

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