Westmount Energy Share Discussion Threads

[vraic] 18/11/2014 11:18

Annual report arrived today , AGM in St Helier Jersey 10 December 3 pm.
Still looking for a deal, in the meantime still holding energy shares with
investments in the Falklands.

[loobrush] 28/4/2014 13:04

They have already announced a small profit for last 6 months and but have been frustrated in finding the right deal.
As stated
"In line with our stated strategy, your board continued to look for an acquisition that would create value for shareholders. A large part of the year has been taken up with a specific proposal, outside the resource sector, that the majority of your board believed could have delivered significant value to shareholders.

Westmount Energy Limited remains a highly attractive, Jersey based, investment vehicle quoted on AIM. The company is well positioned to evaluate and take advantage of new investment opportunities should they hold value creating potential for shareholders. The board together with our advisors continue to seek a suitable strategic acquisition, primarily but not exclusively within the resource sector where the board has core experience".

With price rising maybe they have at last found the right deal and with ex Director of Cove on board, if they have, the share price will see a big reaction

[thecynical1] 28/4/2014 12:42

loobrush - what happened to the action you were talking about in November last year? Their holding in SEY is now worth even less than it was the last time I posted.......is anybody else watching this one?

[thecynical1] 27/11/2013 12:09

even if you add some value for the listing, where is the value? They need to find an oil/gas/mineral project to put in here. jmo.

[thecynical1] 27/11/2013 11:04

why? market cap - 1.4 million......cash plus 'assets' ( shares in SEY et al ) - approx 980,000.........em....why do you think this is worth buying at this price?

[loobrush] 15/11/2013 17:12

Ex Director of Cove has this share as a shell

Over the past six months your board have been actively engaged in negotiations and discussions with various potential investors and companies who were either interested in injecting new capital or merging their companies with Westmount with a view to creating increased shareholder value. The process is ongoing.

This is from the last accounts in MARCH -full year results due out imminently
only 13 million shares in issue most tied up.

Current price only 20 p

If deal is announced price will rocket

Well worth getting on board now before the action.

[thecynical1] 17/6/2013 07:49

guess they are waiting for someone to approach them about a reverse takeover......

[thecynical1] 29/5/2013 09:16

Looks like this is doing spectacularly well.....the value of the assets is now nowhere near the 2 Million market cap...........is anybody else watching this?

[thecynical1] 19/1/2013 12:56

has everyone given up on this and moved on???

[thecynical1] 27/8/2012 15:30

I see this is popular at the moment! Anybody know what TOG has planned with this little baby or is he is now concentrating on FAST?

[thecynical1] 14/3/2012 08:19

the bid in the fifties...

[thecynical1] 12/3/2012 08:13

that was short-lived....

[bionicdog] 28/2/2012 16:32

The share that just keeps giving.

[bionicdog] 27/2/2012 11:01

They have never let us down yet.

[thecynical1] 22/2/2012 12:57

afternoon all! has anyone any idea what O´Gorman has planned here? I don´t believe that he is planning on leaving the company as a holder of small investments in other companies? it is not really his style...? the question I am asking myself is when is he going to raise funds and at what price......has anybody got any real detail about what he is likely to do? perhaps go back and pick up licences that Cove didn´t bother with in the early stages??

[mick] 20/2/2012 17:03

NAV is 20p and directors now have authority to issue a large amount of new shares i.e. dilution - why would anyone pay 41p - seems way over the top.

[itsonlyme2] 18/1/2012 18:28

so how is this share price going to move up from here then, des and arg wont move the share price much?????/

[bionicdog] 31/12/2011 09:49

Most on here have had their initial investment returned to them many times over , so they won't be complaining. WTE has been in the process of being wound down for a few years now , they just have a few assets left.

[rajaster] 30/12/2011 16:03

guys randomly came across this today.. wanted to look at their website and found it was just one page with no information about the company.. looked here and a bit more info however it doesnt look credible to me with so little information.

[vraic] 08/12/2011 09:34

Walsh and Ogorman paid 2p over net asset value as they paid 20pence means net asset value was 18pence all shares and cash.

[thecynical1] 07/12/2011 09:47

does anyone know how much cash these guys had before they got the GBP440k?

[tyb4lt] 30/11/2011 08:12

multi board ramping? a sign of a real dog. congrats on bringing it to our attention mick

[mick] 29/11/2011 14:55

Very very interesting development! Is this going to be the next Cove??

Worth recalling that Tom O Gorman took over as chairman of Lapp Plats in 2006 at 1p and Market cap of 220k. He then, along with John Craven transformed Lap Plats into Cove Energy which now has a share price of 91p and a market cap of £450m.

A great opportunity to get in at the ground level on TOG's next vehicle.

Lapp Plats plc

25 September 2006

Press Release

£1.26million Equity Placing

New Board Appointments

Lapp Plats plc ("Lapp Plats" or the "Company") is pleased to announce that it has completed a fund raising of £1.26million by way of an oversubscribed conditional placing (the "Placing") of 8,366,667 new ordinary shares of Stg1p each (the "Placing Shares") at a placing price of Stg15p per Ordinary Share.

The Placing is conditional only on admission of the Placing Shares to trading on the AIM Market of the London Stock Exchange and the IEX Market of the Irish Stock Exchange. Dealing in the Placing Shares is expected to commence on 28 September 2006.

The proceeds of the Placing will supplement the working capital of the Company and will primarily be used for corporate development purposes.

In addition, application will be made for 593,333 new ordinary shares of Stg1p each ("Share Payment") to be issued to satisfy certain professional service and consultancy liability obligations.

Following the Placing and the Share Payment the issued share capital of the Company will increase to 22,268,334 ordinary shares of Stg1p each ("Enlarged Share Capital").

Allied to the Placing and the Share Payment, the Board of the Company have appointed Thomas O'Gorman as non-Executive Chairman by splitting the current role of Chairman and CEO held by Michael Nolan. Mr O'Gorman is a long time investor and financier in the natural resource sector. The Board has also appointed Paul Sweeney as a non-executive Director, Mr Sweeney has worked with two of Ireland's largest financial institutions as an investment adviser for over 17 years.

[liquid millionaire] 29/11/2011 07:52

Tuesday 29 November, 2011


Westmount Energy Ld

Issue of Equity and Appointment of Directors


RNS Number : 9101S

Westmount Energy Limited

29 November 2011






Westmount Energy Limited

("Westmount" or the "Company")

Issue of Equity and Appointment of Directors

Issue of Equity

The Board of Westmount are pleased to announce that they have entered into a conditional agreement to issue 2,200,000 new ordinary shares of 20 pence in the company to Mr Gerry Walsh and Mr Thomas O'Gorman at a price of 20 pence per share, a premium of 2 pence per share to the Company's undiluted NAV at the close of business on 25 November 2011, raising gross proceeds for the Company of £440,000. Following the share issue, Messrs Walsh and O'Gorman will own 22.6% of the issued share capital of Westmount. The transaction will not constitute a change in the Company's existing investment strategy.

Appointment of Directors

Mr Walsh and Mr O'Gorman have experience in identifying and developing energy assets and companies and the Board believes that they can provide considerable expertise to the Company in this role. Accordingly, following the subscription, they will be both be appointed to the Board of the Company.

Gerard Walsh (48) has been or is currently a director of the following companies in the past five years;

Current Directorships - GW Management Ltd, Primary Resources Ltd and Tradefex Ltd

Previous Directorships - Gwalia Resources Limited resigned April 2008

Thomas O'Gorman (59)

Current Directorships - Balbairde Capital Ltd and Mayos Gold Ltd

Previous Directorships - Cove Energy plc (formerly Lapp Plats plc) resigned July 2009

Midas Mineral Resources Limited resigned December 2009

Save as disclosed above, there are no further details required to be disclosed pursuant to schedule 2 (g) of the AIM Rules for companies



Enquiries

Westmount Energy Limited

Paul Anderson - 01534 814209

Mervyn Bradlow -

Nicholas Wells / Elizabeth Bowman - Cenkos Securities plc Tel: [phone]


This information is provided by RNS

The company news service from the London Stock Exchange