REG - Westmount Energy Ld - Navitas Farm-In to JHI’s North Falklands Licence

Westmount EnergyAnnouncement

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RNS Number : 5858O  Westmount Energy Limited  13 January 2026

 

 

13(th) January 2026

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

Navitas to Farm-In to JHI's North Falklands Basin Licence, PL001

Westmount Energy Limited (UK AIM: WTE.L), the AIM-quoted oil and gas investing
company focussed on high impact drilling outcomes in emerging basins, is
pleased to report that its investee JHI Associates Inc. ("JHI") has signed a
non-binding Memorandum of Understanding ("MOU")(1) with Navitas Petroleum LP
("Navitas") for a farm-in under which Navitas will acquire a 65% Working
Interest ("W.I.") and operatorship of the PL001 North Falklands Basin Licence
("PL001"). JHI currently holds 100% W.I. in PL001 via a wholly owned
subsidiary, JHI Falkland Inc. ("JHIF"). PL001 is located immediately to the
west of PL032 containing the Navitas operated Sea Lion Project which recently
achieved Final Investment Decision with respect to Phase 1 of this giant
development complex with over 700 MMbbls of recoverable resources.

 

PL001, which covers approximately 1,126 square kilometres, is located in
modest water depths (<500m), is fully covered by 3D seismic and contains
significant exploration potential. JHI's internal Best Estimates indicate a
prospect inventory containing an aggregate 3.1bn bbls of prospective
recoverable resources with an aggregate upside of more than 10 bn bbls(2). So
far, two oil prospects, Tyche and Dinlas, have been high-graded within the
same stratigraphic interval as the Sea Lion accumulation - each containing a
potential 400 MMbbls recoverable(2).

 

JHI is a private, Ontario-registered, company established in 2014 and focused
on oil exploration opportunities in the emerging Guyana-Suriname and North
Falklands basins. Westmount holds a total of 5,685,257 shares in JHI,
representing approximately 6.24% of the issued share capital.

 

Gerard Walsh Chairman of Westmount Energy Ltd. commented:

"We are delighted to see this significant follow-on transaction on the back of
the recent reawakening of interest in our offshore Falkland Islands and
Guyanese assets. A tie-up of the North Falklands Basin PL001 Licence with the
incumbent operator of the giant Sea Lion Development presents significant
potential opportunity in terms of synergies re sub-surface understanding, rig
sharing and production facilities in the success case."

 

(1)https://maya.tase.co.il/he/reports/1716562
(https://maya.tase.co.il/he/reports/1716562)

(2)https://www.jhiassociates.com/north-falkland-basin
(https://www.jhiassociates.com/north-falkland-basin)

For further information, please contact:

 

Westmount Energy
Limited
www.westmountenergy.com

David King,
Director
Tel: +44 (0) 1534 823000

 

 

Cavendish Capital Markets Limited (Nomad and Broker)           Tel:
+44 (0) 20 7397 8900

Neil McDonald / Pete Lynch

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