Westmount Energy Share Discussion Threads

[zingaro] 14/3/2008 16:45

I agree with you both. I would love to have the cash from SEY and DES sooner than later.

[whackford] 14/3/2008 16:40

Des - fair point. May I suggest you contact the company via the website and explain your logic? Personally, I think Eclipse will be floated this year so WTE should be able to take their cash out of that too.

In general, I would rather have cash in hand than a prolonged wait from WTE - there are some good and safe buys in the wider market at the moment

[deswalker] 14/3/2008 15:18

whackford,

Agreed about things being done in a timely fashion but I don't want it to take forever either. I'd be happy to sit on a pure Eclipse play whilst it developed the project and the market adjusted to put a fair price on it, but as for DES and SEY I want to see liquidation and a cash return asap. I'll then decide whether or not to play these stocks myself. Both are so closely watched and liquid that I don't believe WTE management have any insight beyond that in the market. Consequently why not sell, return the cash and focus solely on Eclipse for the next couple of years. As we all know the real kicker here is the Eclipse uplift from Book Value combined with the WTE discount to NAV. I'm certainly not holding WTE as a way into either DES or SEY as I can invest in either of these directly.

Des

[whackford] 14/3/2008 13:31

Des - I suspect (and hope) that you are right re. wind up. However, we don't want it done overnight, just at a pace that maximises expected return. We certainly don't want them to make any further investments!

I would like to see WTE's board come clean and state their plan - perhaps with a meeting on UK mainland which we can all get to.

[deswalker] 14/3/2008 10:14

Nice to see some better news from SEY today.

Still hoping we're planning on selling our DES sooner rather than later.

Does the Chairman standing down and being replaced in a non-exec capacity by a Hargreave Hale stockbroker signal that the company is in wind-up mode ? We now have no oilmen on the board just finance people, so it seems likely that they're focusing on liquidation IMO.

[whackford] 14/3/2008 08:14

Go to Oilbarrel.com if you want to register to hear Sterling Energy's presentation. It is normally posted on Oilbarrel website after a few days.:

OILBARREL.COM CONFERENCE - THURSDAY 3rd APRIL 2008

THE BREWERY, CHISWELL ST, LONDON, EC1Y 4SD

9.30am - 1.00pm

Aminex Plc

Northern Petroleum Plc

Petroceltic International Plc

Sterling Energy Plc

A fifth company tbc

A guest speaker will present an overview of the Italian Oil & Gas scene

[whackford] 11/3/2008 16:31

Des - I did get a reply. Just got back home. Confirms your 1327 post.

I mention to Paul Anderson that many WTE holders would like to know if any DES sold so that they could control overall DES shareholding. It remains to be seen if they (WTE) advise of DES sales if/when they happen.

[mickinvest] 11/3/2008 15:49

FWIW, the only 300k trade during the last 2 weeks was

11/03/08 09:09 77.79 300,000


Not to say they sold in one go though.

Mick

[deswalker] 11/3/2008 15:43

The new RNS makes it clear they've only sold 300k DES shares.

[deswalker] 11/3/2008 10:38

whackford - let us know if you get a reply.

[whackford] 11/3/2008 08:39

Des - I have sent email to WTE asking if they can say anything. Personally, I would be surprised if they have sold at the moment and not revealed the fact to WTE shareholders. I will post here if I get a response. WTE shreholders need to know in case they are also direct holders in DES.

[deswalker] 11/3/2008 08:20

Quite a bit of talk on iii website that WTE have now sold out of DES. Somebody claims to be quite close to things and says they've been selling for the last two weeks but finished yesterday. Since below 3% there's no reason for a DES RNS but surely WTE would announce this news before the interims (which will hopefully be this month). Fantastic development if they've got 5.5 mill away at a good average. Fingers crossed that he's not talking garbage.

[whackford] 05/3/2008 16:45

Fair bit of despair on the SEY board. But with SEY at zero current value of WTE reasonable when one takes account of DES and Wind potential. Perhaps SEY will be taken over for cash, which would suit WTE shareholders.

[deswalker] 01/3/2008 17:11

sorry bisiboy. can you explain what you mean ?

[bisiboy] 01/3/2008 09:34

from my understanding of the values that production trades at
the cost would = value of eclipse i must be missing something

[bionicdog] 29/2/2008 17:19

I've just got these out of the sock drawer after 9 years and dusted them down.

[whackford] 29/2/2008 15:28

Des & Mick. There could be more to come at DES, when further details of farmin are announced. It might be a bit premature for WTE to sell DES just yet. I hope DES board have a bit of an inside track on this - after all, they have been a holder in DES for over 10 years! Pity D Williams is not at the helm to steer us through - he was well in with Phipps & co.

[mickinvest] 29/2/2008 15:24

Good idea Des, better than mine to sell it at 28p or whatever it was :-) although I'm not one to be known to hold a stock for too long!

Mick

[deswalker] 29/2/2008 15:20

Finger's crossed they're selling their DES position into this rise. It was always going to happen once they announced a farmout. Let's take the money now whilst the buying volume is there.

[deswalker] 29/2/2008 10:20

Thks whackford.

[dogberry202000] 29/2/2008 09:22

Well spotted, Whackford!

WTE's potential value is what keeps me invested in it. DES is doing well and may well do better over the next few weeks. SEY "may" be making a double bottom in its chart. And there's the float on Eclipse to come.

WTE has broken through its main averages.

I'm happy to remain a longterm holder here.

[whackford] 29/2/2008 09:15

Suspect interest in WTE not only due to DES.

Google news search reveals below, but I cannot get into IJ since no password:

Ormonde offshore wind farm moves forward
IJ Online, UK - 19 Feb 2008
Eclipse's proposed 150MW offshore wind project intended for a site near the Irish coast is moving forward now that all MLAs and advisers have been collected ...

Week in Review Week in Review - 18 - 22 February 2008
IJ Online, UK - 22 Feb 2008
Ormonde has attracted four banks as MLAs to underwrite the debt associated with the project which is expected to cost in the region of £300m. ...

[mickinvest] 28/2/2008 10:08

Now £3.2m for DES and a wee bit of decent director buying as well along with £2.7m for SEY and probably around £1m cash plus Eclipse with a directors valuation of £1.83m.

SEY is the big disappointment and fingers crossed it can bounce from 9p.

Mick

PS - That'll teach you to get optimistic on your footie team cwa! :-(

[vraic] 27/2/2008 18:40

With Desire on the move it is important we realise our 5 1/2 million shares are now worth £ 3 million !!. After share buy backs we now have just 7.124 million shares priced at 90p our market cap is just £6.4 million {47% tightly held}So our shares will remain a thin market but an important play on Desire Petroleum and its future.

[mickinvest] 25/2/2008 11:01

Not one I follow CWA, tried buying 5k there though and it was having none of it so your getting no lift up from me!

Suppose I'll have to hang around for the rest of the day and wait on this DES announcement although hardly golf weather outside at the moment.

Mick