Mid Atlantic Deepwater Exploration Company Inc on Friday disclosed that it will be winding up later this year.
According to a notice in the Guyana Chronicle, Mid Atlantic, a Guyanese company, will be holding a general meeting on March 3rd, 2023, at 11 o’clock at its 92 Oronoque Street, Queenstown location in Georgetown regarding the winding up of the company.
The purpose of the general meeting of the company is to receive the report and the accounts of the liquidator on the voluntary winding up of the company. It is unclear why the company made this decision. Mid Atlantic holds 12.5% of the working interest of the Canje Block.
The Canje Block was controversially awarded in 2015 just prior to the general elections in May that year, and is operated by ExxonMobil (35%), with Total Energies (35%), JHI Associates (17.5%), and Mid-Atlantic as partners. Westmount holds a 7.2% interest in the issued share capital of JHI.
Three wells have already been drilled in the Canje block, but they were all non-commercial. Exxon plans to drill 12 wells in the offshore Canje Block.
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