Westmount Energy Share Discussion Threads

[bomfin] 19/1/2006 09:19

BLT,

Presentaions I have seen also seem to suggest that Eclipse intend to provide electricity from gas turbines for 8 years with the suggestion the average production would be 4,000 boepd.

Again. All imho dyor

rgds bomfin

[bomfin] 19/1/2006 09:08

If the 14% is correct and it's looking likely it is then the extra 4% could be worth £2 million!

Or in other words WTE's share in Eclipse could be worth £7 million.

Based on the Press and Journal article which said Eclipse had 11.25 million boe gas reserves.

Gas currently selling at £36/ boe. Eclipse's gas in shallow water right underneath a gas pipeline to Barrow production facilities only about 10 miles away.

imho dyor

rgds bomfin

[mickinvest] 19/1/2006 08:12

More importantly, the RNS confirms I was wrong in my calculations with Eclipse and WTE owns approx 14% rather than the 10% I worked out :>))))

Also see the new brokers are getting a slice of the options and this now looks one of the best investments for 2006 at the current level available on the stockmarket in my view.

Mick

[bitterlemontart] 19/1/2006 08:05

Westmount provides CDS 500,000 stg convertible loan for Paraguay oil project

LONDON (AFX) - Investment group Westmount Energy Ltd said it has provided
AIM-listed exploration company CDS Oil & Gas Group PLC with a 500,000 stg
convertible loan to fund its project in the Chaco Basin, Paraguay.
The loan is repayable on Dec 29, at which time Westmount can use the value
of the loan plus accrued interest to subscribe for new CDS shares at a 5 pct
discount to a 14-day average mid-market price.
But, prior to that date, Westmount can use the loan, excluding interest, to
subscribe for 5 mln new CDS shares at a price of 10 pence per share. CDS will
also issue Westmount with warrants to subscribe for a further 5 mln new shares
at 10p per share for a period of one year.
CDS shares closed yesterday at 7-1/4 pence.
Westmount's current investment portfolio includes 30 mln shares in Sterling
Energy PLC and 5.5 mln shares in Desire Petroleum PLC.

[e-mail]

[bitterlemontart] 19/1/2006 07:55

Exploration in Chaco Basin

RNS Number:1242X
Westmount Energy Limited
19 January 2006


CONTACTS:

Westmount Energy Limited Tel: [phone]
Derek Williams, Chairman
Paul Anderson, Director

Ruegg & Co Limited Tel: [phone]
Gavin Burnell
Brett Miller

Merlin Tel: [phone]
Paul Downes
Tom Randell



19 January 2006


WESTMOUNT ENERGY LIMITED


PARTICIPATION IN OIL & GAS EXPLORATION IN THE CHACO BASIN

IN NORTH WEST PARAGUAY THROUGH CDS OIL & GAS GROUP plc

AND OTHER RECENT EVENTS


Westmount Energy Limited ("Westmount") the Jersey, Channel Islands, based
independent energy investment company quoted on AIM, today announced it has
provided a #500,000 Convertible Loan to AIM quoted CDS Oil & Gas Group plc ("CDS"),
to be utilised solely towards the funding of its exploration programme in the Chaco
Basin in North West Paraguay.

The Loan is repayable on 29 December 2006, but in lieu of repayment, Westmount
has the option, at any time prior to 29 December 2006 to elect to subscribe for,
and apply the amount of the Loan by subscribing for and paying up five million
new ordinary shares of 1p each in CDS at a subscription price of 10p per share.
Westmount will waive any interest and CDS will simultaneously procure the issue
to Westmount of Warrants to subscribe for a further five million new ordinary
shares of 1p each in CDS at 10p per share for a period of one year thereafter.

In the event Westmount has not exercised its rights as aforesaid, by 29 December
2006 it has agreed to apply the Loan (including accrued interest thereon) in
paying up and automatically subscribing for on 29 December 2006, such number of
new ordinary shares of 1p each in CDS as shall be found by dividing the
aggregate amount of the Loan and accrued interest by the "Average Price" (namely
the average mid-market price per share of an Ordinary Share of 1p in CDS as
traded on AIM for the previous 14 trading days prior to the 29 December 2006)
less 5% thereof.

CDS is a London based newly listed AIM company and owns CDS Energy S.A., a
Paraguayan company which was formed to pursue the exploration and development
potential of three blocks covering a large area (7.22 million acres or 29,210 km
(2)) of North West Paraguay in South America.

CDS has a 100% working interest in all three blocks, which include the 400km(2)
Gabino Mendoza Block, the 4,911 km(2) PG&E Block and the 23,899 km(2) Boqueron
Block. These blocks include substantial exploration opportunities in a large
prospective area in the eastward extension of the Chaco Basin within Paraguay.
CDS has recently announced that it had reached the planned depth of 1,635 metres
on its first well in the Chaco region of Paraguay. The well has been cased and
suspended for further evaluation.

The well, which was spudded on 25 November 2005, is located 200m southeast of
the Independencia 1 well drilled in 1993 on the Gabino Mendoza block, which was
in turn a re-entry of the Mendoza 1-R well drilled by Pure Oil in 1959. The
primary objective of the new well was a potential oil-bearing zone between 705
metres and 1,600 metres, identified by CDS through its interpretation of seismic
data and the well logs of previous drilling operations.

Early results have indicated the presence of hydrocarbons at various levels
within the well, but are as yet inconclusive. CDS is currently engaged in
analysing the drilling logs and the results taken from sidewall cores to
ascertain the potential of the well. Further information will be provided in due
course.

James Wade, President and CEO of CDS, said: "There are encouraging indications
from this well. However there is still a great deal of work required before we
can confirm the quality and quantity of the hydrocarbon indications we have
encountered."

Commenting on the investment in CDS, Derek Williams, Chairman of Westmount,
stated:

"I am pleased, now that Westmount has received shareholders approval to its
Return of Share Capital proposals, we are able to utilise part of our remaining
funds in providing assistance to CDS in bringing forward its encouraging
exploration programme in NW Paraguay. Westmount has been able to take advantage
of the opportunity to participate at an early stage in the largely under
explored and unexploited Paraguayan area of the Chaco Basin and one of the least
explored hydrocarbon provinces left in South America."

On other recent events at Westmount, Derek Williams, commented as follows:

* "At the Extraordinary General Meeting of Westmount held on 22 December
2005, shareholders approved the Reorganisation of Westmount's Share Capital.

* Westmount also announced on 22 December 2005 that the Board has been widened
by the appointment of Paul Anderson, who has been closely involved with the
administration of Westmount for over nine years.

* On 17 January 2006 Westmount announced the appointment of Ruegg & Co
Limited, an independent corporate finance house, established in 1992, which
specialises in the AIM and OFEX markets, as Westmount's Nominated Adviser
and Broker.

* All of these moves have been designed to assist in the further
development of Westmount and the growth in value per share for the benefit
of shareholders.

* Included in Westmount's current investment portfolio, besides the recent
investment in CDS, Westmount owns 30,000,000 shares of Sterling Energy plc
and 5,500,000 shares of Desire Petroleum plc. These three companies are all
traded on the AIM market. Westmount also owns 244,000 shares of the
presently unquoted Eclipse Energy, representing approximately 14% of the
issued share capital of Eclipse.

* Following the consolidation of 15,013,361 10p ordinary shares, Westmount
has 7,506,680 20p ordinary shares in issue traded on AIM, held by
approximately 1,500 shareholders.

* There are also currently outstanding share options over 750,000 20p
ordinary shares, exercisable at 1031/2p per share over various periods
expiring on 31 December 2012. As previously announced, 600,000 of these
share options are held by the four directors of Westmount, each holding
150,000 share options. The balance of share options over 150,000 20p
ordinary shares have since been issued to Ruegg & Co Limited.

* As a result of the Share Capital Reorganisation of Westmount, involving
the return of capital of approximately #7,500,000 to shareholders, to
facilitate this, there are also 15,013,361 unquoted B shares of 1p each in
issue, which are in the course of being redeemed at 50p per share in cash."


ENDS



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

[bionicdog] 19/1/2006 07:35

Nice bit of business this morning if you have the spare cash knocking about.

[bitterlemontart] 18/1/2006 19:40

Is it correct that an AIM share that is sold, but subsequently repurchased within 30 days is deemed to be neutral with regards to business taper relief ?


Example :-

AIM share purchased {100,000 shares} in April 2003 and then sold in October 2004....meaning 1 year + holding period i.e. 50% BTR....

The shares were then repurchased within 30 days....and then sold a year later....meaning a total holding period of more than 2 years i.e. 100% BTR....


My point being that if you repurchase AIM shares within the 30 days that the business taper relief {BTR} is maintained....is this true ?

Any comments ?

[cwa1] 17/1/2006 14:50

Before this gets out of hand :-) I don't know anything at all about the situation. I just think it is...interesting... to see that, at this stage of the game, they are changing brokers. Why now? What is in the pipeline that would make them want to change broker? Possibly nothing to it at all; maybe they are cheaper, better, or maybe they are specialists in floatations, etc.

[mickinvest] 17/1/2006 14:40

Knowing CWA, he'll be filling a buy order before he says a word :>))))))))

Mind leave some for me later in the week, back to work :>(

Mick

[bitterlemontart] 17/1/2006 14:25

Please do tell !

[cwa1] 17/1/2006 14:18

Now that would be telling :>)

[bitterlemontart] 17/1/2006 14:00

CWA1 - can not see that it means that much to WTE and it's shareholders....can you ?

[bitterlemontart] 17/1/2006 13:51

Ooh yes that's right....thanks....

[bitterlemontart] 17/1/2006 11:46

CWA1 - sorry missed your post....who were the previous ones then ?

[bitterlemontart] 17/1/2006 11:45

Change of Adviser

RNS Number:0358X
Westmount Energy Limited
17 January 2006


17 January 2006




PRESS RELEASE


WESTMOUNT ENERGY LIMITED


Change of Nominated Adviser and Broker


The Board of Westmount Energy Limited (the "Company") is pleased to announce
the appointment of Ruegg & Co Limited as Nominated Adviser and Broker to the
Company with immediate effect.


Enquiries:

Westmount Energy Limited 01534 814209
Derek Williams
Paul Anderson

Ruegg & Co Limited 020 7584 3663
Gavin Burnell
Brett Miller




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

[cwa1] 17/1/2006 11:44

Interesting, wonder why they are doing that at this juncture?

The Board of Westmount Energy Limited (the "Company") is pleased to announce the appointment of Ruegg & Co Limited as Nominated Adviser and Broker to the Company with immediate effect.

Hmmmmm.

[bitterlemontart] 12/1/2006 08:25

The stocks that 'catch my eye', are those that are achieving levels not seen for a very long time, such as WTE, which I viewed a couple of days ago, and which I typed in red to highlight the fact .. here is the link ..

[bitterlemontart] 12/1/2006 08:20

fingers xxd - 12 Jan'06 - 00:27 - 4019 of 4024



Hi PRO_BETTER,

I have given up highlighting an individual stock, as I usually end up with 'egg on my face'. If you are looking for stocks with good upside potential, I would recommend visiting the '100%' thread, where posters are nominating stocks which they believe will double this year, and they are providing their reasons .. HAMBI has done an amazing job with his '2double web site' which is linked to the thread, and makes viewing all the nominations so easy .. there are some very good stocks to choose from.

Another thread that I highly recommend, is the 'FAR4' thread .. The host, MEL, is very knowledgeable, and there are stocks with 'explosive potential' being highlighted on the thread each day.

Having said all that, returning to your original question .. I wish I could name a stock with 'a huge aggressive uptrend about to start', but unfortunately my 'crystal ball' is at the garage at the moment having its annual service, so I can't help.

The stocks that 'catch my eye', are those that are achieving levels not seen for a very long time, such as WTE, which I viewed a couple of days ago, and which I typed in red to highlight the fact .. here is the link ..



Also stocks that are in 'well established long term narrow uptrends', that are continuously reaching new 'all-time' highs .. overall, a stock that is consistantly making steady upward movement, will often rise much further than one that keeps 'leaping up and down' .. quite a few have been mentioned on this thread recently, and I recently highlighted 5 x of them again: TLW, AHT, DGO, BUR, WLF .. here is the link ..



My personal favourite over the last year has been AHT, and although it has already travelled far, I still reckon there is more upside to come .. and the AHT thread is one of the friendliest on the BB's, and I 'hang out there' a great deal.

My long term favourite is MER .. it is a very well run company and is based close to where I live. Its not an agressive riser, but overall, it just keeps on rising .. other personal long term favourites are CS. and JKX.

.. and after all that, I still haven't answered your question .. Sorry :-)

[bitterlemontart] 09/1/2006 08:50

A CHARTISTS PRICE GUIDE FOR NON-CHARTISTS. (£1)

[bitterlemontart] 09/1/2006 08:47

A CHARTISTS PRICE GUIDE FOR NON-CHARTISTS. (£1)



fingers xxd - 8 Jan'06 - 01:06 - 3944 of 3955



Hi BLT,

WTE - 118.50p .. yep, at its present price, its a breakout, and viewing the 'all-data' chart below, it shows the price moving to a level not seen for over 7 yrs .. so quite an achievement .. a very significant breakout .. and a good signal that the price is moving up into a new stage !!



Zooming in, it can be seen that the price has been held around the 112.50p level for about 14 mths, and during this period it will have built up a great deal of strength ..



Zooming in again, the strength of Fridays breakout is clearly visible .. such a breakout would normally be accompanied by high volume, but the volume was relatively low, possibly due to the fact that the main rise occurred late in the day.



With such a significant breakout, I would expect increased market interest early next week, which should increase the volume, which will add momentum to its breakout moves .. so I am expecting to see more strong upward moves early next week.

It looks very, very good .. thanks for highlighting it just at the right time !!

[bitterlemontart] 09/1/2006 08:40

"Westmount also owns a potentially valuable 14.75 per cent stake in Eclipse, a company formed to exploit stranded gas reserves, which is rumoured to be planning a float...."

[whackford] 07/1/2006 16:04

Yes Mickinvest I more or less agree with what you say except:
1. WTE's ahare in Eclipse ststed as 13.96% in last annual report.

2. I think cash should be nearer £1.5m (£9m cash stated in last annual report less B share payout of £7.5m)

Regards.

[mickinvest] 07/1/2006 09:46

Morning chaps

A quick gander at what we may hold at the moment.

5.25m DES shares @ 31p = £1.6275m

30m SEY shares @ 19.25p = £5.775m

Cash around £1.2m

Eclipse, 10.1% holding, I may try to clarify this shortly, possibly could be higher but my guess is 10.1% won't be far out, pleasant suprise if it is higher though. 244,000 shares and last issue valued them at £7.50 each or around £1.83m.

Since the last issue, I think we can agree that green power suppliers will have increased in value considerably along with the associated gas field.

At £7.50, the project is valued at £18.1m, my total stab in the dark figure would put it at up to 3 times that value and WTE's stake at £5.49m

Total assets £14.09m shares in issue 7,506,681 = £1.87 a share or £1.74 once the directors cash in their 600,000 share options.

Anyone want to try a better stab at Eclipse's value :>)

regards

Mick

Edited to show eclipse at 3 X current value but fair chance Sterling can add on 3 or 4p from here and an extra £1.2m