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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Westmount Energy Limited | WTE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.05 | -3.33% | 1.45 | 08:15:55 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.50 | 1.45 | 1.50 | 1.45 | 1.50 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 07/1/2022 17:45 by mick Fangtooth has to be very positive for the Santonian prospects in Canje and Kaieteur. See below from Oil Now today.While the recent Fangtooth-1 discovery augments the list of over 20 significant finds in the Stabroek Block by operator ExxonMobil, its value should not be overlooked or underappreciated, says Hess Corporation’s Chief Executive Officer (CEO), John Hess. During Goldman Sachs’ Global Energy and Clean Technology Conference 2022 held on Thursday, Hess, who spoke extensively about the exploration outlook of Guyana, noted that Fangtooth-1 is actually the first test of the deepwater horizon of the Lower Campanian and Santonian plays. Hess said success in this relatively new territory for the partners proves his well reported conclusion that the Stabroek Block holds multi-billion-barrel exploration potential that is far beyond the 10 billion barrels of oil equivalent resources already discovered. The Hess CEO said, “…we were happy to announce more discoveries, being Fangtooth-1 and Lau Lau-1. Both of these are significant in pay counts and have significant high-quality reservoirs as well as aerial extent so they will add to the 10 billion barrels of oil equivalent already discovered and they should be fairly significant adds and will go into the queue of development opportunities.” 20 billion barrels projected at Guyana’s largest oil block; region is hotbed for investments, analyst says He continued, “But Fangtooth itself is meaningful because it was the first of the deeper horizon of the Lower Campanian and Santonian that we just tested and the other times we tested those horizons it was focusing from the shallower horizon and these horizons which by the way are 15,000 feet for the shallow horizon and 18,000 feet for the deeper horizon.” Furthermore, the Hess executive said Fangtooth-1 shows that the joint venture partners still have a lot of running room for exploration in Guyana. “And when we say there is multi-billion barrels of exploration potential remaining above and beyond what was discovered, Fangtooth validates that,” Hess added. He said too that Fangtooth-1 is a really significant discovery since it has opened up another deep play for the partners to pursue. Taking this into account, he said Guyana is truly a unique cash flow story for investors, whether they are in the hydrocarbon industry or not, to take their money. For 2022, he said the partners are excited about the organic leverage it still has on the block and will continue its efforts to grow the queue of developments as well as their resource base of “low cost, high value, low carbon oil.” By 2026, 4 FPSOs will deliver 50 million barrels of oil, US$4 billion annually to Guyana – Bharrat It was on Wednesday the Guyana Government disclosed that the country scored big again with two significant discoveries. The administration said the Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs and was drilled in 6,030 feet (1,838 meters) of water. It is located approximately 11 miles (18 kilometers) northwest of the Liza field. As for the Lau Lau-1 well, it encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field. OilNOW also reported earlier this week that Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana. Exxon has found an average of 1.7 billion barrels of oil per year in Guyana since 2015 The Stabroek block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest. |
Posted at 07/6/2021 07:31 by robs12 Exciting times.7.7% stake in a targeted 1bn barrel well with a market cap of £16m.., That's just Jabillo-1, never mind all the rest. The new presentation is here: hxxps://www.westmoun |
Posted at 26/3/2021 08:53 by xxnjr I presume WTE are only a passive investor and would not be on the Joint Operating Committee for the block. Hence they get their day to day info from reading the press and NTM's - Just like we do. |
Posted at 05/3/2021 16:16 by corrientes Could be six of one and half a dozen of the other. Delay often means investors get spooked, but on the other hand you can see concerted ramping and the inevitable selling thereafter. |
Posted at 03/3/2021 13:53 by mick Great news from Exxon Investor Day pack today!'Quality reservoirs and hydrocarbons identified in first wells in Canje, Kaieteur, and Suriname' |
Posted at 20/1/2021 19:34 by robs12 From a while back (2015):"MEMBERS of the team behind Cove Energy, the Irish oil and gas explorer sold for £1.2bn in 2012, are seeking to raise funding to progress a project in the Caribbean. AIM-listed Westmount Energy, backed by ex-Cove chief executive John Craven and Cove’s former chairman Tom O’Gorman, is seeking as much as £764,000 in working capital, via a share placing and an open offer to qualifying existing shareholders. It has agreed to raise £200,000 from the placing — with institutional investors — and the balance will be determined in the coming days when the results of the open offer are known. Westmount has repositioned itself as an oil and gas investment company and has recently taken a small stake in a company with interests in Guyana. The company, Eco (Atlantic) Oil and Gas, has an interest in the so-called Onduik block, operated by Tullow Oil. Onduik is adjacent to a block where Exxon Mobil has made a number of significant discoveries. “At Westmount we have created a platform, which has similar characteristics to the Lapp Plats model, which we will use to seek access to exploration and investment opportunities in the emerging oil and gas province of the Guyana-Suriname Basin,” Westmount chairman Gerry Walsh told the Sunday Independent. Walsh and O’Gorman were involved in Lapp Plats, the AIM-listed cash shell that became Cove after the men persuaded Craven to invest and join in 2009. O’Gorman is now a director of Westmount alongside Walsh and Dermot Corcoran, who was formerly the head of the exploration at Petroceltic. Craven had left his job as chief executive of Petroceltic, the company he founded, just months earlier after a boardroom row over who Petroceltic should partner with for a project in Africa. Three years later he sold Cove to Thai company PTTEP. Shell had also been interested but wouldn’t match PTTEP’s bid. Craven backed Westmount — of which he is not a director — in 2015 alongside O’Gorman." Now: As of the last financial report, three of the four directors are paying themselves £20K per year (only started in 2020, nothing before that). Walsh holds 8.28% Corcoran - 3.64% Craven (not a director) - 3.64% O'Gorman - 3.23% This is all about getting the share price up for them. |
Posted at 17/10/2020 17:28 by robs12 LOL, I have been ignoring it for some time...I just liked the bits:"They invest carefully, which means that the Canje Oil Block is a sure thing,..." "there is an incredible level of confidence on Westmount’s part, which conveys that the returns are as good as guaranteed." "It is good for Westmount Energy Ltd. and its well-placed investors." But maybe to be fair, that should be ignored too... ! ;-) Hopefully we'll know more very soon...just watching for news of a ship heading off in Canje's direction...can't be far off now. Maybe Kaieteur news before that, any day now... |
Posted at 30/7/2020 21:24 by phoebusav July 30, 2020“The Stena Carron will next move to the Kaieteur block in which Hess holds a 15% working interest to spud the Tanager-1 well, which is located 46 miles northwest of Liza,” Greg Hill, President and Chief Operating Officer of Hess Corporation told investors on Wednesday. A block-wide application for environmental authorization to conduct oil and natural gas activities on the deepwater Kaieteur block was submitted to the Environmental Protection Agency (EPA) by ExxonMobil. This has since been approved, according to EPA head, Dr. Vincent Adams. |
Posted at 14/3/2019 13:43 by mr hangman Will be very interesting to see what happens when new investors are aloud totrade their new shares this time next week @ 9.75p which represents 16% of the company... |
Posted at 08/3/2019 11:30 by phoebus_av Despite ECO and Ratio soaring, WTE looks to be a whopping premium to NAV. Looking at last accounts and RNS statements WTE appears to have the following holdings, ARG 1M shares x 3p = £0.03M, ECO 3.125M shares x 89p = £2.78M, Ratio 1.2M shares x 65.27p = £0.78M, JHI 2.21M shares x 69p = £1.52M. In total that's £5.12M, whereas the current market cap at 18p is £11.7M. So WTE appears to be trading at a massive 128% premium to its investment NAV! Can anyone shed any light on its net cash position. I doubt it makes up for the yawning gap. Whilst this offers an nice spread of Guyana exposure for LSE investors that can only get direct exposure through ECO, it looks to be a very expensive choice. Surely it's better just to buy ECO shares direct? |
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