Westmount Energy (GB:WTE) has released an update.
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Westmount Energy is capitalizing on its investment in Africa Oil Corp as drilling resumes on the promising Tamboti-1X well in Namibia, targeting a substantial 1 billion barrel opportunity. The strategic farm-down deal with TotalEnergies ensures that exploration, appraisal, and development costs are fully covered, enhancing the financial appeal of this venture. Investors are keenly watching the Orange Basin, with potential significant resource additions anticipated alongside the ongoing development of the giant Venus oil accumulation.
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