Westmount Energy Share Discussion Threads

[mrsplinter] 28/10/2020 17:50

Hi xxnjr,
Can you tell me please where does this quote come from? Hess corp conference call?

[xxnjr] 28/10/2020 14:50

"The 9 bn bbls is in the Campanian. The Santonian is 3000ft deeper than the Campanian. The industry only has 5 penetrations in the Santonian so far (us, 2 in Guyana and Apache 3 in Suriname). When we look at the Santonian on seismic the channel systems seem even more extensive if anything than the Campanian".

[xxnjr] 28/10/2020 14:27

"Tanager-1 is the deepest well so far in Guyana and is targeting multiple horizons; Campanian, Santonian and Turonian". Basically same targets as Apache in Suriname where they have discoveries in the first two levels. IIRC Apache had some issues getting down to Turonian. Hess also upgraded gross discovered resources on Stabroek to 9bn bbls (+1bn).

[thelings] 28/10/2020 12:45

Exxon reports on Friday, perhaps they have latitude to say a bit more as operators?

[xxnjr] 28/10/2020 12:21

There we are then. Thanks mick.

[mick] 28/10/2020 12:16

Hess report today in their Q3 report today that drilling operations are 'ongoing' at Tanager 1

[xxnjr] 28/10/2020 12:15

Basically all you need is a couple of crew boats, aka * Michael Crombie McCall * Emily Day Mc Call and about 3 offshore supply vessels plus the drilling rig. ExxonMobil tend to pool their vessel fleet in Guyana so doubt if we could deduce much from the latest NTM. There are currently 3 vessels on location, one of which is presumably, almost certainly (i'd say) the rig.

[thelings] 21/10/2020 13:55

Thanks Mick.

Is this list of vessels the same as the previous Notice to Mariners list? Or are there additional / missing vessels by which we can draw conclusions as to what they are up to (still drilling, testing, demobilising, etc)?

[mick] 21/10/2020 11:18

This seems like positive news - Tanager well extended to 30 November.

I notice Ratio is up 7% in Tel Aviv today as well. It will be interesting to monitor the Ratio price over the next six weeks.

MARITIME ADMINISTRATION DEPARTMENT
NOTICE TO MARINERS
No. 068 (2020) Guyana
OFFSHORE GUYANA
Esso Exploration & Production Guyana Ltd (EEPGL) will continue with exploration
drilling operations at the Tanager -1 Well Site within the Kaieteur Block of Guyana
Maritime Zone
This exercise will concluded on November 30, 2020 and incorporate the use of the
undermentioned vessels that would display the international signal for vessels engaged in
such activities;
* MODU Stena Carron * Paradise Island
* Sanibel Island * Horn Island
* Oryx * Robert Adams
* C- Installer * Seacor Murray
* Clarence Triche * Jack Edwards
* Michael Crombie McCall * Emily Day Mc Call
* Seacor Mixteca * Kirk Chouest
* Russell Adams * Springbok
* Gary Rook * Seacor Amazon
* Seacor Nile * Seacor Congo
The destination well site is approximately 138 nautical miles from the Coast of Guyana and
covers an area of one square kilometre, bounded by the following coordinates:

[robs12] 20/10/2020 09:30

Oct 2o was the date when the Notice to Mariners said it would conclude, but it was scheduled for 3 months after spudding by the company, which would be early/mid November. Not long to wait anyhow..

[thelings] 20/10/2020 08:36

Well here we are Oct 20th which is when Tanager-1 was set to conclude (of course don’t have pinpoint accuracy esp drilling at such depths). I wonder if XOM will just report it with results next week, they’ve co-reported discoveries before within qrtly results.

[euclid5] 19/10/2020 20:50

seems the 1.5m buy last Friday didn't move the price at all - anyone have any views on that trade?

[robs12] 17/10/2020 17:28

LOL, I have been ignoring it for some time...I just liked the bits:

"They invest carefully, which means that the Canje Oil Block is a sure thing,..."
"there is an incredible level of confidence on Westmount’s part, which conveys that the returns are as good as guaranteed."
"It is good for Westmount Energy Ltd. and its well-placed investors."

But maybe to be fair, that should be ignored too... ! ;-)

Hopefully we'll know more very soon...just watching for news of a ship heading off in Canje's direction...can't be far off now.

Maybe Kaieteur news before that, any day now...

[phoebusav] 17/10/2020 16:57

Just ignore it. The naivety and lack of basic logic in that article is breathtaking. That newspaper really is awful IMO. If they or anyone else in Guyana feels left out, all they need to do is open a brokerage account and buy some shares in one of the publicly listed businesses drilling in Guyana. If they can't be bothered to take the risk like everyone else that's up to them.

[robs12] 16/10/2020 20:00

As most of you probably know, the Kaieteur News in Guyana has been publishing daily shock stories about the Canje and Kaieteur block awards for a long time...

This one mentions Westmount specifically and is worth a read:

hxxps://www.kaieteurnewsonline.com/2020/10/15/why-only-westmount-why-not-guyanese/

[euclid5] 06/10/2020 15:37

Thanks Robs

[robs12] 06/10/2020 11:34

"MODU Stena Carron will move from the LIZ_4P21 to Tanager-1 Well Site, arriving on August 09, 2020. The drilling activity will conclude on October 20, 2020" (From the Notice to Mariners).

Two weeks to go if all is going to plan..... :-)

Only ~ 1.11m shares traded in the last week - £210K or thereabouts.

[euclid5] 18/9/2020 20:36

Agrre with your posts,however any GCoS % below 35% are deemed as high risk! The one at 72% is very good - but there are a few targets that fall in the 25% - 35% GCoS% - as they are exploration drill targets & not appraisal drilling

[phoebusav] 17/9/2020 16:08

/ JHI acquisition shares and RTO /

I expect that JHI will be holding tightly to all their WTE shares if they are indeed intending to RTO into WTE on successful drilling as many suspect. For WTE to pay for JHI shares using its own stock is effectively like a partial merger already. Given that Bulletwood, Sapote and Jabillo are all on the Canje block we could be sharing 3 massive discoveries with JHI in just a few months time so it would certainly make sense to RTO JHI into WTE. In that scenario WTE would have P50 210 MMB net recoverable based on 3 Canje discoveries plus interests in Kanje, Orinduik and Block 47. Quite a prospect.

[phoebusav] 16/9/2020 13:52

Most folks probably haven't bothered to do their homework on this one because working out WTE's exposure is a bit 'hard' due to indirect holdings or because they think their interests are too tiny to be of any value. If you work it out though then look at the market cap and then consider this is right next to Stabroek it looks super compelling. OK, oil price was higher, but when ECO was drilling Joe and Jethro last year it hit $3.97/BOE in the run up to drilling before settling at $2.67/BOE just before drill results. Based on Tanager, Bulletwood, Jabillo, Sapote and GV-N drills WTE share price would need to be between 56p and 83.1p to reflect the same valuation per BOE pre drill. Current share price is like buying ECO last year at 25p in the run up to Joe and Jethro. ECO is 22.5p right now and they're not even drilling for some time! Current WTE share price looks a steal.

[mick] 15/9/2020 20:35

Interesting announcement from Apache about its Kwaskwasi well results offshore Suriname. 278 meters of net pay seems enormous. Hopefully WTE will have similar success in Tanager and/or Bulletwood later in the year.

14 Sep 2020
Photo - see caption
Apache Corp has provided an update to the technical evaluation of the Kwaskwasi-1 discovery well offshore Suriname.

Photo - see caption
As previously announced, Kwaskwasi-1 discovered hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals. The well encountered 278 meters (912 feet) of net oil and volatile oil/gas condensate pay. The shallower Campanian interval contains 63 meters (207 feet) of net oil pay and 86 meters (282 feet) of net volatile oil/gas condensate pay. The Santonian interval contains 129 meters (423 feet) of net pay. Fluid samples from the Campanian validated the presence of oil with API gravities between 34 and 43 degrees.

Since the discovery announcement on July 29, 2020, the Noble Sam Croft drillship has gathered reservoir and other technical data in the Santonian. The company was able to successfully retrieve rotary sidewall cores but was unable to collect representative fluid samples from the reservoir due to conditions caused by cementing operations, which were required to mitigate increased pressure below the base of the Santonian formation. Hydrocarbon shows were observed in the Santonian reservoirs, and the results of the formation evaluation indicate the presence of oil.

The Noble Sam Croft has commenced operations at the Keskesi East-1 exploration well approx. 14 kms (9 miles) southeast of Sapakara West-1. The Keskesi well will test upper Cretaceous targets in the Campanian and Santonian.

Apache holds a 50% working interest in Block 58 and will continue to be the operator through the completion of the Keskesi well. Total holds the remaining 50% working interest

[plunger2] 10/9/2020 08:22

Thank you xxnjr.
That news may have more than a little to do with our own news today.



Still only on the grid and revving the engine!

[xxnjr] 08/9/2020 15:47

Another discovery, 1.5 miles NW of Yellowtail. Not a huge step out but nevertheless 1.5 miles closer to Bulletwood. Noble Don Taylor may drill Bulletwood next?

[ein4] 27/8/2020 15:12

I am, its going to be quite exciting?

[donmac101] 27/8/2020 12:42

Tik tok tik tok countdown to one of the biggest oil finds on this years uk market and no ones listening.