REG - Westmount Energy Ld - Eco-JHI Transaction & New Corporate Presentation

Westmount EnergyAnnouncement

14/06/2022 17:15

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RNS Number : 8727O  Westmount Energy Limited  14 June 2022

 

 

14 June 2022

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

 Termination of Eco-JHI 'All Paper' Transaction

and

New Corporate Presentation

Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), the AIM-quoted oil
and gas investing company focussed on the Guyana-Suriname Basin notes the
termination of the proposed 'all paper' acquisition of JHI Associates Inc.
("JHI") by Eco (Atlantic) Oil and Gas Ltd. ("Eco") announced today.

 

JHI is a private, Ontario-registered, company established in 2014 and focused
on oil exploration opportunities in the emerging Guyana-Suriname Basin. The
company's main asset is a 17.5% working interest ("WI") in the Canje Block
covering over 4,800 square kilometres, offshore Guyana. This block is located
adjacent to and in the same geologic basin as the Stabroek Block which has
delivered twenty six substantial oil discoveries since 2015, with reported
discovered recoverable resources of approximately 11 billion oil-equivalent
barrels to date.

 

The Canje Block is currently operated by an ExxonMobil subsidiary, Esso
Exploration & Production Guyana Limited (35%), with TotalEnergies E&P
Guyana B.V. (35%), JHI Associates (BVI) Inc. (17.5%), and Mid-Atlantic Oil
& Gas Inc. (12.5%) as partners.

 

Westmount holds a total of 5,651,270 shares in JHI, representing approximately
7.16% of the issued common shares in JHI as of 31(st) December 2021. Westmount
also holds 1,500,000 shares in Eco representing approximately 0.49% of the
issued common shares in Eco as of 11(th) May 2022.

 

New Corporate Presentation

In addition, Westmout is pleased to announce that the Company's new corporate
presentation can be viewed on its website at
http://www.westmountenergy.com/presentations/
(http://www.westmountenergy.com/presentations/%20)

For further information, please contact:

 

 Westmount Energy Limited                            www.westmountenergy.com (http://www.westmountenergy.com)
 David King, Director                                Tel: +44 (0) 1534 823059
 Anita Weaver

 Cenkos Securities plc (Nomad and Broker)            Tel: +44 (0) 20 7397 8900
 Nicholas Wells / Neil McDonald (Corporate Finance)

 

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