CANJE LICENSE VALUATION: WESTMOUNT INVESTMENT IN JHIA press release on May 12th announced an equity investment was made by Westmount Energy to JHI Associates (who own a 17.5% non-operating interest in the Canje License). The press release is below:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WTE/14535998.html In short, this transaction reflects a roughly ~US $156M valuation for JHI's 17.5% interest in the Canje license. Bringing the total valaution of Canje to roughly US $892M.
This is another example that underscores the significant value of the Guyana / Suriname basin. As most CGX shareholders can appreciate - the Northern Corentyne Area is only a few miles away from three world class oil discoveries made by Exxon/Hess/CNOOC and Apache/Total.
Until we obtain an updated resource report from CGX/Frontera (due to be release in the near future) - I would expect a similar valuation for both Corentyne and Demarara.