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WTE Westmount Energy Limited

1.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Westmount Energy Limited LSE:WTE London Ordinary Share GB00B0S5KR31 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.50 1.40 1.60 1.50 1.50 1.50 0.00 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec -2.7M -2.97M -0.0206 -0.73 2.16M
Westmount Energy Limited is listed in the Offices-holdng Companies sector of the London Stock Exchange with ticker WTE. The last closing price for Westmount Energy was 1.50p. Over the last year, Westmount Energy shares have traded in a share price range of 1.35p to 2.65p.

Westmount Energy currently has 144,051,486 shares in issue. The market capitalisation of Westmount Energy is £2.16 million. Westmount Energy has a price to earnings ratio (PE ratio) of -0.73.

Westmount Energy Share Discussion Threads

Showing 1776 to 1800 of 2400 messages
Chat Pages: Latest  72  71  70  69  68  67  66  65  64  63  62  61  Older
DateSubjectAuthorDiscuss
14/8/2009
15:32
James, I usually calc it on a fully diluted basis, so get a lower figure. Essentially, I agree with what you say, but I don't think we can be certain about the cash until we see next accounts.

Certainly worth holding.

whackford
11/8/2009
11:50
Up 14% on no buy/sell, what is that about?
jamesiebabie
10/8/2009
08:34
Here's my latest calc of worth, any comments?

Westmount Energy

No. Of shares WTE own Current bid price Value of share
Desire 5200000 0.56 0.417174047
Sterling energy 31500000 0.034 0.153431801
Cash in bank 700,000 0.100282223
Total Value 0.670888071

Total Number of Shares in circulation 6,980,300

jamesiebabie
10/8/2009
07:46
Hmmmmmm. It's alive :-) A whole penny and a half on the bid. Spread narrowing nicely now ;-)
cwa1
07/8/2009
08:01
SEY perky these days :-)

Just thought I would give you all a start and waken you up

cwa1
09/6/2009
10:09
These seem to keep at good to fair value. But with the massive spread its definitely not a trading stock. It's a case of buy and hold (perhaps for a few years) and hope that the directors sell WTE's holdings at the right time and then return cash to shareholders - and don't spend the proceeds but pay it back to shareholders.
whackford
05/6/2009
09:02
oftc - it's time for a punt here, I think. DES is rocketin' today, like.

:-)

whammo
05/6/2009
08:48
5.2 million held at early March. Worth about £2.25 million at current DES price
cwa1
05/6/2009
08:26
Does anyone know if WTE still has any significant holding in DES? If so it might be worth a small punt here as DES now seems to be on an upward roll and WTE should be bound to catch up before long.

All IMHO/DYOR

oftc

out for the count
22/5/2009
17:33
RNS Number : 6125S
Westmount Energy Limited
21 May 2009

Westmount Energy Limited

('Westmount' or the 'Company')

Change of Adviser

Westmount is pleased to announce that Cenkos Securities plc has been appointed as Broker and Nominated Adviser (NOMAD) to the Company with immediate effect.


Paul R. Anderson,

Westmount Energy Limited Tel: 01534 814209

Cenkos Securities plc 020 7397 8900

Nick Wells

Elizabeth Bowman

skiboy10
13/3/2009
09:30
Roderick,
Regarding SEY, I presume WTE will hang on until an offer for SEY comes, or it goes under, or sell at some perhaps distant date when WTE thinks it is best. I think you can take it that WTE management are close to SEY and know more than anyone on this blog. Remember WTE have had ample opportunity to get out of SEY over the years and have "missed the boat on SEY", so I don't see WTE selling SEY at 1p a share.

Regarding DES, I think WTE will sell most, perhaps all DES, when a rig is announced and in the run up to drilling. We saw evidence of that when 0.3million were sold on announcement of farmin.

It is DES that is the main attraction of WTE, plus the half million in cash. We might get a pleasant surprise with SEY but the market does not seem to think that's likely.

whackford
13/3/2009
08:30
Not really sure whackford although in the current World wide economic and financial crisis it does make one think the worse. What are your thoughts on the likely outcome for SEY?

Plus do you think that WTE could sell their SEY in these markets?

roderick montrose smythe
10/3/2009
16:44
What do you mske of it, Roderick? (SEY update). Looks as though WTE intend holding until the end of SEY, whatever that may be.
whackford
09/3/2009
19:30
9 March 2009


STERLING ENERGY PLC
("Sterling" or the "Company")


Financial and Corporate Update


Progress on Refinancing


Sterling (symbol: SEY), an AIM listed independent oil & gas exploration and
production company with interests in the Gulf of Mexico, Africa and the Middle
East, today issued the following update regarding its banking facilities, recent
trading and certain other corporate matters.


* The Company is in advanced discussions with its syndicate banks regarding the
granting of a waiver until mid August in connection with the schedule of
repayments on its loan needed to bring borrowings into line with the expected
reduction in the Borrowing Base.



* Natixis, as agent and technical bank, has indicated that, reflecting the major
fall in energy prices in the last few months, the Company's Borrowing Base under
its syndicated debt facility would currently be approximately US$76 million.



* The reduction would give rise to a debt gap of approximately US$28 million,
after taking account of an US$8 million repayment by the Company on 17 February
2009.



* While there can be no certainty of a successful outcome to these discussions,
Sterling expects to reach agreement with the Banking Group and is satisfied that
such an agreement would provide sufficient headroom for Sterling to continue to
service its existing cash flow obligations until at least the next scheduled
Borrowing Base re-determination.



* The Group's current cash resources are approximately US$7 million.



* Net production in the USA and Mauritania averaged 4,750 boepd in 2008 and is
currently 5,100 boepd. Since the start of 2009 Sterling has participated in 4
wells in the USA, all of which have been successful.



* Seismic acquisition on the Sterling operated Sangaw North block in Kurdistan has
been completed and is highly encouraging. Early interpretation of the processed
data confirms a larger than expected sub-surface structure with multiple target
horizons. Drilling preparation is proceeding for Q4 2009.



* Due to prevailing market conditions, Sterling has not yet finalised the sale of
its USA assets but remains committed to the sale and is in discussions with a
number of interested parties for all or part of these assets.



* On 4 November 2008, the Board announced that it had received approaches
regarding possible offers for Sterling from third parties. Discussions with
third parties continue, which may lead to an injection of assets and/or cash
into, or an offer for the Company. There can be no certainty that these
discussions will lead to either an injection of assets and/or cash into, or an
offer for the Company. A further announcement will be made when appropriate.



Graeme Thomson, Sterling CEO, said:


"Completion of this financing agreement will be an important step forward for
Sterling. We are working closely with our banks to reach an agreement acceptable
to all parties as quickly as possible.


"Sterling is focused on both improving expected cash flows through action to
drive down costs and asset realisations, whilst bringing greater focus into the
business through better prospect prioritisation. Discussions with third
parties continue as we seek a longer-term platform from which it can expand.
Notwithstanding the marked decline in energy prices over recent months, we
remain confident that Sterling has some highly prospective world class assets
and we are determined to exploit the potential upside that they offer."




Enquiries


Sterling Energy Plc (+44 20 7405 4133) Web site: www.sterlingenergyplc.com
Graeme Thomson, CEO
Jon Cooper, FD


Evolution Securities (+44 20 7071 4300)
Rob Collins
Chris Sim


N M Rothschild & Sons Limited (+44 20 7280 5000)
Neeve Billis


Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove


In accordance with the guidelines of the AIM Market of the London Stock
Exchange, Andrew Grosse, B.Sc (Hons) Geology & Geophysics (1980), Exploration &
Technical Director of Sterling Energy Plc, who has been involved in the oil
industry for over 27 years, is the qualified person that has reviewed the
technical information contained in this press release.



Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of STERLING, all "dealings" in any "relevant
securities" of that company (including by means of an option in respect of, or a
derivative referenced to, any such "relevant securities") must be publicly
disclosed by no later than 3.30 pm (London time) on the London business day
following the date of the relevant transaction. This requirement will continue
until the date on which any offer (if made) becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the "offer period" otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
"interest" in "relevant securities" of STERLING, they will be deemed to be a
single person for the purpose of Rule 8.3.


Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of STERLING by STERLING, or by any of its "associates", must be
disclosed by no later than 12.00 noon (London time) on the London business day
following the date of the relevant transaction.


A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at



"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.


Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.





This information is provided by RNS
The company news service from the London Stock Exchange

roderick montrose smythe
04/3/2009
07:40
RNS Number : 2574O
Desire Petroleum PLC
04 March 2009






For immediate release
4 March 2009









Desire Petroleum plc




('Desire' or 'the Company')




EIA Submission




Desire Petroleum plc (AIM:DES) the exploration company focusing on the North Falkland Basin, is pleased to announce that the Environmental Impact Assessment (EIA) prepared by RPS Energy has now been submitted to the Falkland Islands Government.




This EIA covers the Desire operated licences PL 006, 007 and 034.




Approval is expected in July 2009.




For further information please contact:




Desire Petroleum plc



Stephen Phipps, Chairman

Ian Duncan, Chief Executive Officer
020 7436 0423






Seymour Pierce Limited

Jonathan Wright

Richard Redmayne
020 7107 8000






Buchanan Communications
020 7466 5000

Ben Willey

Ben Romney








This information is provided by RNS
The company news service from the London Stock Exchange

roderick montrose smythe
04/3/2009
07:15
Half Yearly Report (Westmount Energy)





TIDMWTE

RNS Number : 2478O
Westmount Energy Limited
04 March 2009

?




04 March 2009


CONTACTS:


+---------------------+--------------+
| Westmount Energy | Tel: 01534 |
| Limited | 814209 |
+---------------------+--------------+
| Paul Anderson, | |
| Director | |
+---------------------+--------------+
| Ruegg & Co Limited | Tel: 020 |
| | 7584 3663 |
+---------------------+--------------+
| Gavin Burnell | |
+---------------------+--------------+
| Brett Miller | |
+---------------------+--------------+
| | |
+---------------------+--------------+
| | |
+---------------------+--------------+
| | |
+---------------------+--------------+


PRESS RELEASE


WESTMOUNT ENERGY LIMITED


INTERIM RESULTS FOR THE SIX MONTHS
ENDED 31 DECEMBER 2008




The Board of Westmount Energy Limited (the "Company") today announces the
interim results of the Company for the six months ended 31 December 2008.


These results will shortly be available to download from the Company's
website www.westmount-energy.co.uk and will be posted to shareholders no later
than Friday 6 March 2009.


________________________________________________________________________________


SUMMARY AND OBJECTIVE
The condensed information contained in this unaudited half-yearly financial
report has been prepared in accordance with pronouncements on interim reporting
issued by the Accounting Standards Board (ASB). The information has been
prepared on the basis of the accounting policies set out in the company's most
recent audited annual financial statements for the year ended 30 June 2008.


CHAIRMAN'S HALF-YEAR REVIEW
The past six months have been an important period in your Company's history
during which we realised our investment in Eclipse Energy Plc following the
successful offer from Vattenfall AB (publ) for the whole of the issued share
capital at GBP18.01 per share.

This resulted in a profit on disposal of GBP3,659,440 and the company paid a
return of capital of 65p to shareholders on the 13 February 2009. Following this
distribution the price quoted for your company's shares on the AIM market was
reduced by this amount so that the current quote of 32-40p reflects this
distribution.

We thus have two remaining investments, namely Sterling Energy Plc and Desire
Petroleum Plc.

Sterling Energy Plc (Sterling)
We hold 31.5 million ordinary shares in Sterling and this has been a very
disappointing investment over the last year or so. The company's activities have
been badly affected by the fall in the oil price and reduced production in
Mauritania, together with the lower gas prices received in the U.S.

The Board of Sterling announced on the 4 November 2008 that it had received an
approach that could possibly lead to an Offer for the company and we believe
that at the present moment the company is still in talks. As we await the result
of these discussions we are therefore unable to comment on what the ultimate
value of our investment may be. In view of the historic carrying value we have
concluded that we should make a provision of GBP2,125,250 to reflect a reduction
which is more aligned to the current market value.

Desire Petroleum Plc (Desire)
We hold 5.2 million ordinary shares in Desire. On the 10 February 2009 they
reported that they have not yet contracted for a rig to drill the Falklands
licence area but that the global rig market is beginning to ease both in terms
of availability and cost. The Board of Desire are of the opinion that the
fundamentals of Desire's project remain unchanged notwithstanding the current
oil price and that they are hopeful of resolving the rig position in the near
future. They reaffirm that the project remains unchanged with any discoveries
offering very exciting prospects. We await further news regarding progress on
this project.

Profit for the six months ended 31 December 2008
The Company made a net profit before taxation of GBP1,296,319 after the
provision of GBP2,125,250 resulting from the write down of the carrying cost of
our holding in Sterling. This profit was struck after allowing for the
commission of GBP115,615 due to the Estate of our late Chairman Derek Williams
and to Ridge House Resources Ltd a connected company. In addition there were
expenses of GBP56,850 connected with the return of capital. Net annual costs for
the six month period were GBP101,000 compared to GBP168,381 for the six months
ended the 31st December 2007. Your Board is extremely conscious of the need to
control our expenditure and will continue to be vigilant in this regard.

Future Developments
It is the Board's intention to dispose of our investments as and when a suitable
opportunity presents itself as well as to consider proposals to further develop
the company. We are hopeful that the next six months will see developments in
each of our holdings of Sterling and Desire.


Mervyn Bradlow
Chairman

roderick montrose smythe
25/2/2009
09:34
Updated webpage. What we now need to know is curent cash balance:



Westmount Energy Limited (the "company"), incorporated in Jersey on 1 October 1992 under the Companies (Jersey) Law 1991, as amended, is a public company with registered number 53623. The company now operates solely as an energy investment company.

The investment strategy of the company has been to provide seed capital to small companies which are identified as having significant growth possibilities. The sale of such stakes taking place subsequent to flotation or when a significant third party offer is available, which values such a stake as attractive both for price and market reasons.

The shares of the company commenced trading on the Alternative Investment Market ("AIM") at 15p on 2 October 1995. The middle market closing share price on 30 June 2008 was 102p (30 June 2007: 95p). Following the re-organisations of the company's share capital approved by shareholders on 22 December 2005 and 30 January 2009, and the resultant return of capital to shareholders, the company now has a total of 6,980,300 ordinary shares of 20p each (at 24 February 2009) in issue held by approximately 1,300 shareholders. This number of shares is after taking into account 541,380 shares purchased by the company in the market which have now been cancelled. There are also share options outstanding over 450,000 20p ordinary shares exercisable at an amended subscription price of 38.5p per share and 100,000 20p ordinary shares exercisable at an amended subscription price of 26p per share, both over various periods, expiring 31 December 2012.

Shareholders should be aware that their rights in respect of a Jersey registered company will differ from an English registered company.

Significant Shareholders Number %
Amodeo Investments Limited 864,000 12.38
Personal Representatives of the late
D.G Williams and related parties 1,005,939 14.41
Hargreave Hale Limited 1,327,000 19.01


Shares held by Directors
The total number of shares held by Directors is 349,988 shares.

Shares not held in public hands
The total number of shares not regarded as being held in public hands is 3,454,427 shares.

The information on this website is being disclosed in accordance with rule 26 of the AIM rules.


Page Last Updated 24/02/2009




So there is no explicit statement of the present investments. Whilst this avoids need for possible updates it does not make it easy to see what we've got in a WTE share.

whackford
20/2/2009
08:01
Zingaro...your luck is as about as good as mine :-(
inv3stwise
17/2/2009
09:28
17 Feb. In the post today was my cheque for 65 pence per share .
vraic
16/2/2009
11:08
sold my 5000 @0.36.
zingaro
14/2/2009
19:28
no money for me yet
bisiboy
13/2/2009
16:42
Just checked. Selftrade credited my cash today (which is pretty good for them).

I'm totally done with this stock now. Good luck to all holders. See you around.

Des

deswalker
13/2/2009
13:02
Credited to TD Waterhouse account today
whackford
13/2/2009
12:30
Have you got your money yet Des?

If so the beers are on you!

roderick montrose smythe
13/2/2009
12:04
Has anyone got their cash yet ?
deswalker
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