Westmount Energy Share Discussion Threads

[bionicdog] 10/11/2005 11:48

Result of AGM

RNS Number:9436T
Westmount Energy Limited
10 November 2005


Westmount Energy Limited to Return Capital of 50 pence per ordinary share (in
aggregate approximately #7,500,000) to shareholders.


At the Annual General Meeting of Westmount Energy Limited held in Jersey today,
the Chairman, Derek G. Williams made the following statement:


"As already reported to shareholders following the end of the financial year, as
a result of the realisation of the Group's North Sea interests and the sale of
40,000,000 ordinary shares of Sterling Energy plc the Company has funds of
approximately #9 million in cash.


The Board has been examining ways to return funds to shareholders, whilst
retaining the flexibility to make further selective investments for the future
growth of the Company.


I am now able to advise shareholders that subject to shareholders' approval the
Board will recommend the return of 50 pence per ordinary share (in aggregate
approximately #7,500,000) to shareholders and a 1 for 2 Share Consolidation. A
circular providing full details of the proposed arrangements will be sent to all
shareholders shortly together with a notice convening the required Extraordinary
General Meeting."


Westmount Energy Limited Tel: [phone]

Derek G. Williams, Chairman



Oriel Securities Limited Tel: [phone]

Andrew Edwards
Scott Richardson Brown


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

RAGPKKKQDBDDADD

[bionicdog] 03/11/2005 08:20

No idea , but welcome nonetheless.
Nice to be above £1 again , still waiting for my £1.20 :o(

[cwa1] 03/11/2005 08:12

Early morning boisterousness from Westie this am. Anyone any idea the reason? Possibly cash return info. leaking into the market?

[kim_clay] 11/10/2005 13:31

With all this cash, and with Dereks age, I wonder if he's creating a cash shell for one of the new unquoted north sea exploration companies to reverse into?

[cwa1] 04/10/2005 15:10

Hi BLT, 20,000 trade almost certainly a sell FWIW.

[bitterlemontart] 04/10/2005 12:20

More big buys awaiting in the wings ?

[bitterlemontart] 04/10/2005 12:16

20K BUY from earlier obviously got WTE going today !

[cwa1] 04/10/2005 10:43

Yes, things have shifted a bit since my post, perhaps someone has sold a few still to be announced or buyer has backed off, too small a share to get concerned about day to day minutiae anyway. Just thought it was interesting to see how tight things were first thing.

[papillon] 04/10/2005 10:40

CWA1, you can definitely buy 1000 online with TDW at 1.07. Buy at 1.07, sell at 1.05. I wonder if we are getting a little IHS forming here?

[andy] 04/10/2005 08:44

CWA1,

Interesting!

[cwa1] 04/10/2005 08:20

Blimey! Just attempted a dummy trade and the best that can be bought online is 100 shares. Can sell 15,000. Barely ever recall such a large amount being saleable online. For interest the price offered for a 5000 share sale amount is 105.5p-mid market price. Somebody must be hoovering up stock.

[cwa1] 04/10/2005 08:14

Hmmmm. Some modest movements yesterday and, so far, today. Maybe the panny is starting to drop somewhere:-)

[bitterlemontart] 30/9/2005 18:00

Holding(s) in Company

RNS Number:0386S
Sterling Energy PLC
30 September 2005


Sterling Energy PLC (the "Company")

Holding in Company


The Company was informed on 30 September 2005 that, following the purchase of
36,286,568 ordinary shares of 1p each ("Ordinary Shares") on 29 September 2005,
Invesco Perpetual UK Investment Series (UK ICVC) is the beneficial owner of
176,548,480 Ordinary Shares, representing approximately 12.67 per cent. of the
issued share capital of the Company. The above holding is held in the registered
name Vidacos Nominees Limited.

30 September 2005




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

[p@] 30/9/2005 14:06

Can't find it BOM but it was on the lines of he made some interesting comments on Raj.I thought you were talking about enc,though.

[bomfin] 30/9/2005 13:45

What did I say again?

[p@] 30/9/2005 13:43

Oh right,so was that comment he made about enc then?

[bomfin] 30/9/2005 13:39

There's the DW btw P@

[bomfin] 30/9/2005 13:38

I went back in for a small amount last week. 2,400 shares.

Sold half today as I think DW has a small take off profit on this disposal and also they've no income at present.

Having said that the DES and Eclipse stakes make it worth quite a bit more than it's current value. The market has never really given them full credit for that though.

imho dyor

rgds bomfin

[p@] 30/9/2005 13:32

I think that He wants to take some money off the table in case hurricane Rita
has done damage in the GOM......wise man .

[cwa1] 30/9/2005 12:49

BTW are you still a holder?

[cwa1] 30/9/2005 12:48

Amvescap, I believe. Now at an impressive 21.5%

[bomfin] 30/9/2005 12:11

I've got a hunch it's another triangular relationship but can't figure it out.
Wondering if Talisman might figure. They must be awash with cash. Wonder who bought the Sey shares?

[cwa1] 30/9/2005 12:04

Will certainly be interesting to see bomfin. They do have a pretty good track record IMHO.

[bomfin] 30/9/2005 12:00

Interesting development. Must have something good to invest in?

[cwa1] 30/9/2005 11:55

Excellent to see them monitising some gains. Pleased to see that they are returning some of it to shareholders. Alongside the £1.2m gained from the Licence P241 sale there should be a substantial cash back or share buyback. Glad they are holding on to the balance as I believe there is more upside to come in Sterling. Happy days :-)