CaribX (UK) Limited announced on 28 January 2020 it has increased its interest in the Main Cape Block, located in the Mosquitia Basin, from 15% to 55% - subject to governmental approval. A new management team is in place and plans are for an exploration well during 2021-2022. The interest holders are the operator AziLat Petroleum Ltd with 45% and CaribX with the remaining 55%. During 2019, 50% of the 33,950 sq km offshore block was relinquished.     As of July 2017, AziLat acquired      80% interest in the Main Cape Block (former Patuca and Mosquitia) from      Shell. The block was secured by BG Group in 2013, with the Production      Sharing Contract (PSC) approved by the Honduras Congress in May.   The last offshore well drilled in Honduras was the Castana 1 (TD 3,812m) drilled by Texaco and abandoned dry in 1980 in the Tela Basin (Caribbean Sea). Earlier, Union Oil's 1973 offshore wildcat Main Cape 1, located in the Mosquitia Basin, had oil shows in the interval 2,711 - 2,817m in Eocene Mosquitia Formation carbonates. The well was not appraised.
CaribX (UK) has increased its interest in the Main Cape Block, from 15% to 55% (AziLat Petroleum Ltd ->45%).