Westmount Energy Share Discussion Threads

[bomfin] 23/3/2006 10:11

So Des has come off the boil.

Noticed though that Alkane have contracted electricity sales at over £50/Mwhour.

That would be WOWSA for Eclipse. IMHO DYOR

[bomfin] 17/3/2006 09:42

So we've got DES and SEY + loan to CDS + cash at over £10 million (£1.33/WTE share) and absolutely nothing in for Eclipse which must be worth at least a couple of Million. IMHO DYOR

[bitterlemontart] 14/3/2006 10:16

DES = + 10.5%

[bitterlemontart] 05/3/2006 10:50

Whoever mentioned SEY [which agreed does look very interesting] should not forget WTE [fingers xxd did some charts on WTE recently] own a significent chunk of SEY shares and therefore any large move in SEY is reflected in the share price of WTE....

[bitterlemontart] 02/3/2006 09:05

Westmount Energy Westmount H1 results boosted Sterling Energy stake sale, NSea gain

LONDON (AFX) - Westmount Energy Ltd announced a climb into the black in the
first half, as results were boosted by gains made from the sale of shares in
Sterling Energy PLC and the realisation of its interests in a North Sea licence.
Pretax profits came in at 4.8 mln stg in the six months to Dec 31, compared
with a loss of 80,786 the previous year.

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[bitterlemontart] 02/3/2006 08:20

Westmount Energy Ld Interim Results
RNS Number:1475Z
Westmount Energy Limited
02 March 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]
Tom Randell
Paul Downes




2 March 2006

WESTMOUNT ENERGY LIMITED


INTERIM RESULTS FOR THE SIX MONTHS
ENDED 31 DECEMBER 2005


The Board of Westmount Energy Limited ("the Company") today announces the
interim results of the Company and its subsidiary ("the Group") for the six
months ended 31 December 2005. Highlights are as follows:


* Turnover from discontinued operations in the North Sea #1,118 (2004:
#60,090).

* Profit before tax of #4,810,877, profit after tax #4,343,603 (2004: Loss
before tax of #80,786, loss after tax #91,690).

* Earnings per share of 28.93p (2004: Loss per share of 0.61p).

* The results for the six months ended 31 December 2005 include the
surplus realised on the termination of the Group's overriding royalty
interest relating to Licence P.241 North Sea amounting to #1,706,201 and the
profit realised on the disposal of 40 million of the Company's shareholding
of 70 million Ordinary Shares of Sterling Energy plc amounting to
#3,189,999. No investments were sold in the corresponding period last year.

Following the approval of Shareholders at the Extraordinary General Meeting of
the Company held on 22 December 2005 Capital of the equivalent of 50p per 10p
Ordinary Share totalling approximately #7,500,000 was authorised to be returned
to shareholders. Shareholders have also received one Consolidated Share of 20p
for every two Ordinary Shares of 10p each held. On 31 January 2006 a total of
#5,836,679 was returned to shareholders and those shareholders not receiving
full earlier payment will be forwarded return of capital on 1 May 2006,
totalling #1,670,001.50.

The 10p Ordinary Shares of the Company commenced trading on AIM on 2 October
1995 at 15p. Following the Share Capital Re-organisation there are now 7,506,680
20p Ordinary Shares in issue traded on AIM held by approximately 1,500
shareholders. There are also Share Options outstanding over 750,000 20p Ordinary
Shares exercisable at a subscription price of 103.5p per share, over various
periods, expiring 31 December 2012.

Attached: Full text of the Chairman's Interim Review from the forthcoming
Interim Report, including the Consolidated Profit and Loss Account, Consolidated
Balance Sheet and Consolidated Cash Flow Statement.

Copies of the interim results will be available from the offices of Ruegg & Co
Limited, 39 Cheval Place, London SW7 1EW for a period of one month from today's
date.



CHAIRMAN'S INTERIM REVIEW

The results for the six months ended 31 December 2005 show profits before
taxation of #4,810,877 (#4,343,603 after taxation) compared with a loss before
taxation of #80,786 (#91,690 after taxation) for the six months ended 31
December 2004. Turnover for the six months ended 31 December 2005 arising from
the Group's discontinued operations in the North Sea amounted to #1,118 as
compared with #60,090 for the six months ended 31 December 2004.

For the six months ended 31 December 2005 the results include the surplus
realised on the termination of the Group's overriding royalty interest relating
to Licence P.241, North Sea amounting to #1,706,201. Also included in the
profits for the period was the profit realised on the disposal of 40,000,000
Ordinary Shares of Sterling Energy plc ("Sterling") amounting to #3,189,999. No
investments were sold in the corresponding period last year.

As set out in the Circular to Shareholders dated 25 November 2005, following the
sale of the two Investments referred to above, the Company had cash funds
available of approximately #9 million and the Directors were in a position to
recommend return of capital to Shareholders, whilst retaining sufficient funds
for the future growth of the Company. Following the Extraordinary General
Meeting of the Company held on 22 December 2005 it was announced that all
enabling resolutions as set out in the Circular were duly passed and accordingly
Capital of the equivalent of 50p per Ordinary Share totalling approximately
#7,500,000 would be returned to Shareholders. Shareholders would also receive
one Consolidated Ordinary Share of 20p for every two Ordinary Shares of 10p each
held. On 31 January 2006 a total of #5,836,679 was returned to shareholders and
those shareholders not receiving full earlier payment will be forwarded return
of capital on 1 May 2006, totalling #1,670,001.50.

On 19 January 2006 Westmount announced it had 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. Westmount has the option at any time prior to 29 December 2006 to
elect to apply the Loan by subscribing for and paying up 5 million new ordinary
shares of 1p in CDS at 10p per share and CDS will procure the issue to Westmount
of warrants to subscribe for a further 5 million new ordinary shares of 1p each
in CDS at 10p per share for a period of one year thereafter. In the event
Westmount does not exercise its option or the Loan is not repaid on 29 December
2006, Westmount will apply the Loan by paying up and 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 of an ordinary share of 1p each in CDS as traded on AIM for the
previous 14 trading days, less 5% thereof.

On 22 December 2005, Westmount was pleased to announce the appointment of Paul
Anderson as a director of the Company. Paul is an associate member of the
Institute of Chartered Secretaries and Administrators, a trust manager of Bedell
Group, Jersey, and has been involved with Westmount's business for over 9 years.
On 17 January 2006, the Board announced that Ruegg & Co Limited, which
specialises in the AIM and OFEX markets, had been appointed as Nominated Adviser
and Broker to the Company.

The moves outlined above have been designed to assist in the further development
of Westmount and the growth in value per share for the benefit of Shareholders.

Westmount's investments continue to perform well. Besides the recent investment
in CDS these include, 30,000,000 shares of AIM quoted Sterling, 5,500,000 shares
of AIM quoted Desire Petroleum plc and 244,000 shares of presently unquoted,
Eclipse Energy Company Limited.

The 10p Ordinary Shares of Westmount Energy Limited commenced trading on AIM on
2 October 1995 at 15p. Following the Share Capital Re-organisation there are now
7,506,680 20p Ordinary Shares in issue traded on AIM held by approximately 1,500
shareholders. There are also Share Options outstanding over 750,000 20p Ordinary
Shares, exercisable at a subscription price of 103.5p per share, over various
periods, expiring 31 December 2012.


Derek G. Williams
Chairman


2 March 2006

[bitterlemontart] 27/2/2006 09:20

wakey, wakey !!!!

[bitterlemontart] 27/2/2006 09:17

UK smallcap opening - Sterling Energy up on news of Chinguetti production start

LONDON (AFX) - Shares in Sterling Energy went better in early deals, up
1-1/2 pence at 24-3/4, after it said crude oil production has begun at its
Chinguetti oilfield, located offshore Mauritania.
Harry Wilson, chief executive of Sterling Energy, said: "We are delighted by
the news that Chinguetti has produced its first oil and within the time schedule
outlined last year. This outcome endorses Sterling's innovative funding
agreement with the Mauritanian government signed in November 2004, which could
pave the way for similar agreements in the future."

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[p@] 14/2/2006 14:34

BLT- Thanks for that ,have just bought some CDS.

[bitterlemontart] 14/2/2006 13:26

SEY & DES = BLUE/+

[bitterlemontart] 14/2/2006 13:22

CDS = + 16%

[bitterlemontart] 14/2/2006 13:20

Westmount Energy 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.

[bomfin] 11/2/2006 15:52

The Chaco is a huge lowly populated area. I thinks it's unlikely that there are no hydro carbon reserves. Until recently there was speculation/hopes that they could get cheap gas from Bolivia which is full of the stuff. Now that must be in doubt because of the crazy lurch to the left in Bolivia in recent years. Who's going to put forward the investment to build the pipeline? Until recently the exploration companies may have been expected to risk the investment believing they would recoup the profits from the exploitation of their reserves. Now ownership of everything from licences to discovered resources is in doubt. Paraguay may wish to bash on with finding and developing some of their own reserves.IMHO DYOR

[bitterlemontart] 11/2/2006 12:05

Petróleo en Paraguay

La sabiduría popular dice que Paraguay no tiene reservas de hidrocarburos con las que se pueda contar. Pero díganle eso a Chaco Resources y CDS, dos pequeñas compañías registradas en AIM de Londres. Los ingenieros de Chaco creen que las perforaciones de 1997, cuando se acabaron los últimos 48 pozos, equivocaron las áreas con más probabilidad de contener depósitos importantes, dice Martin Groák, de Chaco, que tiene oficinas en Londres, Perth y Asunción. Dos sitios están siendo vueltos a visitar, ambos en cuencas que han dado hidrocarburos en los vecinos Brasil, Argentina y Bolivia. Los geólogos de Chaco están muy ocupados procesando de nuevo datos sísmicos históricos con modernos equipos y programas de computación.


--------------------------------------------------------------------------------


Petroleum in Paraguay

The popular wisdom says that Paraguay does not have hydrocarbon reserves on which it is possible to be counted. But they say that to Chaco Resources and CDS to him, two small companies registered in AIM of London. The engineers of Chaco think that the 1997 perforations, when the 48 wells finished last, mistook the areas with more probability of containing important deposits, says Martin Groák, of Chaco, that has offices in London, Perth and Asuncio'n. Two sites are being returned to visit, both in river basins that have given hydrocarbons in the neighbors Brazil, Argentina and Bolivia. The geologists of Chaco very are occupied processing again historical seismic data with modern equipment and programs of computation.

[bomfin] 02/2/2006 09:32

BTW,

I've got valuations for WTE assets as.

Sey shares. £6.9 million
Des shares. £1.8 million
The Paraguayan stuff + cash at £1 million.

= to roughly £1.29/share without anything in for Eclipse.

Looks like WTE have 1/7th of Eclipse who in turn have 11.25 milion boe gas reserves. I'd like to think WTE's share could be worth £10 million. DNX talking about a fast track development for Monkwell which is meant to be 5 million boe recoverable.

imho dyor

rgds bomfin

[bomfin] 02/2/2006 09:27

CWA1,

Anyone buying now has a similar cash outlay as before. Shares only about 20% higher priced than previously. The potential gain from the Eclipse floatation is nearly double what it was before though. imho dyor

[cwa1] 02/2/2006 08:42

Hello bomfin

I actually think it's provided a good opportunity.

Wonder if you would care to expand upon that one?

Squaregain have placed the cash in the accont. Excellent. Westmount must have sent out the cash nice and early for this one :-)

[bomfin] 01/2/2006 12:33

I'm happy with the repayment. I actually think it's provided a good opportunity.

I'd also like to thank Mr Williams for bringing home the bacon.

Having had quite a lengthy talk with him over the sale of Buchan I hope there are no hard feelings.

Best wishes and here's to more success.

Bring on the Eclipse floatation:-)

[cwa1] 01/2/2006 09:23

Credit where credit is due. idealing, normally the slowest of the brokers I use when crediting dividends, etc, had the cash in the account yesterday. Well done them as well :-) I sense a brief, polite, e-mail to Squaregain coming on to try and gee them up a bit! Anyone else feel they want to do something similar to SG, please feel free ;-)

[bionicdog] 01/2/2006 08:20

It's a bit of an odd one isn't it. It can't all be treated as CGT , imagine that the current price was the same as your buying price and you hadn't made any money , why should you pay CGT? So I presume one should work out what % rise you have achieved , otherwise it will all be a bit pointless. Personaly I wish that they'd just started buying back shares , then my holding would still be intact.