CaribX (UK) Limited announced on 28 January 2020 its plans for an exploration well during 2021-2022 in the Main Cape Block, located in the Mosquitia Basin. 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. The interest holders are the operator AziLat Petroleum Ltd with 45% and CaribX with the remaining 55%.  CaribX increased its interest in the Main Cape Block, from 15% to 55% - subject to governmental approval. 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.
CaribX (UK) has increased its interest in the Main Cape Block, from 15% to 55% (AziLat Petroleum Ltd ->45%).