Westmount Energy Share Discussion Threads

[bitterlemontart] 02/5/2006 13:47

From the FAR5 thread....



melfaraj - 2 May'06 - 13:08 - 3374 of 3375


wte,

used to have this on my main monitor. time to re-familiarise!

has risen by some one third since the start of this year. had a golden cross towards the end of last month.


Charts....etc, etc....

[mickinvest] 02/5/2006 13:27

If I were part of the Eclipse investors, I would be banging on the table to postpone any flotation until the winter months and take the chance that there may be some crisis that has power generation on the front pages of the newspapers.

They would be falling over themselves for a piece of Eclipse if things are going to plan :>)

Mick

[bitterlemontart] 02/5/2006 13:20

And not forgetting Eclipse!!!!

[bomfin] 02/5/2006 13:10

Having top sliced last week went in for a small top up this morning. Thought SEY might be struggling because Chinguetti isn't firing on all cylinders yet.
WRONG! again!. Looking very good for WTE presently and I agree Mick's valuations. Good luck all.

[bitterlemontart] 02/5/2006 13:00

Wakey, wakey!

[bitterlemontart] 02/5/2006 12:55

WTE are basically cheap as chips!

[mickinvest] 02/5/2006 12:48

30m SEY shares at 31p = £9.3m

5.5m DES at 33p = £1.8m

Cash around £700,000

Loan to CDS £500,000

244,000 shares in Eclipse, last fund raiser at £7.50= £1.8m

Possible floatation price £22.50 = £5.5m

target £17.6m or £2.37 a share

WTE with 7,506,681 shares currently £10.7m @ £1.435 = £10.77m

Room for £1.80 plus yet :>)

Mick

[bitterlemontart] 02/5/2006 12:45

but should be even higher!!!!

[bitterlemontart] 02/5/2006 12:37

AIM listed Westmount Energy {WTE} which holds 30 MILLION SEY shares is also {as you'd expect} absolutely flying this morning as well....

[bitterlemontart] 02/5/2006 12:33

SEY....+ 2.5p!

[bitterlemontart] 02/5/2006 12:30

SEY up again....now what could ECLIPSE that?!?!?

[cwa1] 02/5/2006 12:06

Hmmmmmmm. Westie off "on one". Anyone heard anything substantive?

[bitterlemontart] 27/4/2006 08:36

SEY = 29p....+ 1p

[*drywhite*] 27/4/2006 08:25

Brokerage sources, with historic ties to Westmount are indicating no imminent
announcements regarding Eclipse. If anything a flotation would appear to be further away-no thanks to Government indecision.
WTE then is driven only by SEY and DES for the momment and with DES adrift without a rig SEY is the sole primary drive.
I ,for one, would be greatly pleased to be proved wrong by events but despite SEY's encouraging surge I think WTE's upside is limited on the near horizon.

[papillon] 26/4/2006 12:37

SEY strong today.

[schiff] 18/4/2006 17:08

Thanks Mick & bomfin for all that - very useful and helpful.
On the face of it WTE seems a dry old stock, lacking excitement and sharp fluctuations in price, but under the surface there's a lot going on (as you have explained).
And it's perhaps not a bad thing for me to have some of these steadier shareholdings to balance up the other lively ones I hold!

Best of luck.

[mickinvest] 18/4/2006 16:17

talked myself into another couple seeing they opened it up a bit :>)

[bomfin] 18/4/2006 14:04

Thanks Mick.

Seems quite possible to me. Those gas fields are bigger than some SNS gas fields that are being developed and they're in shallower water. imho dyor

[mickinvest] 18/4/2006 14:01

Thats around my ballpark figure on my spreadsheet Bomfin for WTE which uses £22.50 for their 244,000 shares.

That would value WTE at £2.21 a share using SEY at 27p and DES at 33p.

Currently, I'll settle for £1.85 ish but DES might be in the right area shortly to come back into fashion.

Mick

[bomfin] 18/4/2006 13:50

Personally (and it's only an opinion) I think Eclipse may be able to knock out 2 to 3 million shares at £20 to £30/share when they float.


This would give an initial value for the company of roughly £80 million backed by over £40 million cash or even as high as nearly £150 million backed by £90 million cash.

IMHO DYOR

rgds bomfin

[mickinvest] 18/4/2006 13:41

schiff

To be honest if your going to be interested in Eclipse, you'll not going to get a better price than the current WTE to get in. Totally discounted for the Eclipse asset and the potential flotation price so all in all, when the flotation is announced, I expect a 30% plus hike in the wte share price.

As for the large spread, remember there is no stamp duty and more often than not you can trade well within the given spread. Currently £1.376 to sell although they have no stock and are unwilling to sell below the £1.41 offer and have limited it to 1000 shares.

Must admit I have had a few transactions here today and was well chuffed they were giving away 5k at one point:>)

Interesting scenario, a lot of people would turn their nose up at buying 1000 shares but if you already have a holding then you are only paying the £10-12 dealing cost once as you will be able to flog them together once the Eclipse announcement is done. For a possible 40p x 1000 shares repeated say 10 times makes the seperate dealing costs irrelevant and quite profitable when added to the main holding.

Best to see if a seller is found though before going back to give WINS a kick for their 1000!

Mick

[schiff] 18/4/2006 13:23

Bomf & BLT - I am going to be interested in the Eclipse flotation. Do you think being a shareholder in WTE would be advantageous in getting some of the opening issue (which may not be a public offering)?
Also how can I best keep tabs in advance on the date of the float?
I could be out of the country at the crucial time, though with the ability to use an internet cafe or some such.