Westmount Energy Ord Shs WMELF

Financial Services Asset Management

Westmount Energy Limited is an energy investment company. Its investment strategy is to invest in and provide follow on capital to small and medium sized companies that have significant growth possibilities. It is focused on investing in the prolific Guyana-Suriname Basin, which is an emerging hydrocarbon province. It has invested in four companies: JHI Associates Inc. (JHI), Cataleya Energy Corporation (CEC), Ratio Petroleum Energy Limited Partnership and Eco (Atlantic) Oil and Gas Ltd. These companies have interests in three blocks, Canje, Kaieteur and Orinduik Blocks immediately adjacent to the Stabroek Block. These three blocks, in combination with Block 47 offshore Suriname, contain a substantial inventory of independent Cretaceous prospects. JHI is a Canadian oil exploration company with a 17.5% participating interest in the Canje Block, offshore Guyana. CEC is a Canadian oil exploration company with a 25% participating interest in the Kaieteur Block, offshore Guyana.

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Post by Carbonbullon Jan 15, 2021 12:05am

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Post# 32303884

apache validates basin

What is fast becoming the world’s hottest offshore oil play, the Guyana-Suriname Basin, has entered the headlines once again. Hot on the heels of ExxonMobil and its partner Malaysian state-controlled oil company Petronas announcing a significant oil discovery in Block 52 offshore Suriname, Apache revealed its fourth consecutive discovery in the basin. Apache and partner French integrated energy major Total announced today they have discovered crude oil at the Keskesi East-1 Block 58 offshore Suriname, confirming the presence of petroleum in the eastern portion of the 1.44 million-acre block.

Source: Total.

According to Apache the crude oil at the Cretaceous-aged Campanian and Santonian intervals had an API gravity of 27 to 28 degrees and 35 to 37 degrees respectively. That corresponds to the quality of the three earlier discoveries made in Block 58 during 2020. Apache transferred operatorship of Block 58 to Total at the start of January 2021.

Related: The Oil Industry Is In Dire Need Of Investment
Apache and Total have enjoyed considerable exploration success in Block 58 offshore Suriname and there are signs of further oil discoveries ahead. Block 58 borders Exxon’s prolific Stabroek Block in neighboring offshore Guyana where the international oil supermajor made 18 discoveries since 2015 and estimates that there are recoverable oil resources in excess of 8 billion barrels.