Westmount Energy Ltd. (WTE)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

3.60p
   
  • Change Today:
    -0.050p
  • 52 Week High: 15.25p
  • 52 Week Low: 3.43p
  • Currency: UK Pounds
  • Shares Issued: 144.05m
  • Volume: 876,239
  • Market Cap: £5.19m
  • RiskGrade: 295

Westmount Energy confirms start of drilling at Sapote-1

By Josh White

Date: Thursday 26 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Westmount Energy said on Thursday that the Guyana Maritime Administration Department has confirmed that the Stena DrillMAX drillship would start drilling operations at the Sapote-1 wellsite on the Canje Block, offshore Guyana, on 28 August.
The AIM-traded firm holds an indirect interest in the Canje Block as a result of its 7.2% interest in JHI Associates.

It said the Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana with a 35% holding, with TotalEnergies E&P Guyana holding 35%, JHI Associates BVI holding 17.5%, and Mid-Atlantic Oil & Gas holding 12.5%.

"Sapote-1 is located in the southeast of the Canje Block, approximately 60 kilometres north of the Campanian and Santonian Maka Central-1 stacked pay discovery, in a new depositional setting linked to the Berbice canyon system," the Westmount board explained in its statement.

"Sapote-1 is an independent multi-layer prospect, which will evaluate several Upper Cretaceous targets, and is potentially the largest prospect drilled on the Canje block to date."

It said drilling of Sapote-1 was expected to take 60 days, with results anticipated in late October.

"Following a 2018 farm-out to Total and subsequent transactions, JHI is funded for the 2021 Canje drilling campaign, including the Sapote-1 well, and multiple additional wells."

At 1129 BST, shares in Westmount Energy were down 2.08% at 9.4p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WTE Market Data

Currency UK Pounds
Share Price 3.60p
Change Today -0.050p
% Change -1.37 %
52 Week High 15.25p
52 Week Low 3.43p
Volume 876,239
Shares Issued 144.05m
Market Cap £5.19m
RiskGrade 295

WTE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.11% above the market average74.11% above the market average74.11% above the market average74.11% above the market average74.11% above the market average
11.39% below the sector average11.39% below the sector average11.39% below the sector average11.39% below the sector average11.39% below the sector average
Price Trend
92.39% below the market average92.39% below the market average92.39% below the market average92.39% below the market average92.39% below the market average
86.36% below the sector average86.36% below the sector average86.36% below the sector average86.36% below the sector average86.36% below the sector average
Income Not Available
Growth
34.94% above the market average34.94% above the market average34.94% above the market average34.94% above the market average34.94% above the market average
42.31% above the sector average42.31% above the sector average42.31% above the sector average42.31% above the sector average42.31% above the sector average

WTE Dividends

No dividends found

Trades for 20-May-2022

Time Volume / Share Price
12:27 200,000 @ 3.68p
12:26 198,750 @ 3.50p
12:25 211,380 @ 3.60p
11:45 1,109 @ 3.43p
10:25 220,000 @ 3.55p

WTE Key Personnel

Chair Gerard Walsh

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