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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 |
Date | Subject | Author | Discuss |
---|---|---|---|
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.sterlingenergypl 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 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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