Westmount Energy Share Discussion Threads

[whackford] 21/11/2007 14:57

Mick. I contacted WTE about 2 months ago and pointed out they should be buying back shares unless they thought some of their current investments were about to go downhill (or WTE shareprice!). I pointed out that WTE had previously bought back at 106p (I think - see earlier RNS), below the price of about 85p at which they stood when I contacted. Had a courteous reply saying the idea would be put to the board. No buybacks seen yet, however.

No clear statement of strategy, as yet, it seems.

Like other posters, I am keen to see refund of cash and certainly no further investments. Might pay to wait until Eclipse and Desire mature, though.

I would urge shareholders to use the "Contact company" on the WTE website to get their views to the board. I have done so. AGM in Jersey makes it difficult to express shareholder viewpoint.

[deswalker] 21/11/2007 11:07

There's the RNS topvest. A funny way of doing things but we got there in the end.

[topvest] 20/11/2007 22:44

I don't think that is any way to announce the results of a company listed on AIM - they are off my buy list for the time being as this is not a good start for the new team! I'm amazed that the LSE allow them to get away with it. May be right, may be wrong but sniffs of having shareholders over at some point to me when you treat them with such contempt.

[mickinvest] 20/11/2007 21:57

They may not want to advertise they are looking to offload their SEY and DES stake, they might as well buy shares back as soon as with cash they have at the moment which will leave more for the rest of us :>)

Mick

[topvest] 20/11/2007 20:49

Yes, looks like its going to wind itself up or some other strategy. Hardly going for a positive pr stunt as can't even be bothered to post the results in an RNS. Never like it when this happens. Only had one other company that did this and they were suspended a few months later. Not suggesting it will happen here, but it has to be rather poor investor relations and suggests to me that they are trying to bury the results as far as the wider public are concerned.

[deswalker] 20/11/2007 17:51

The final section of the review entitled "The Future" seems to point towards a winding down and return of capital when circumstances allow. There is no mention of further investments. I'm happy about this.

As we know the £7.50 per share "directors' valuation" of Eclipse is in line with venture capital and other standards (last funding round) and won't be what they value it at now. They remain very tight-lipped about Eclipse for the time being.

[deswalker] 20/11/2007 17:31

They're there now ...

[deswalker] 20/11/2007 17:22

RNS says Finals are available on the website. Can anyone find them ?

[deswalker] 16/11/2007 08:03

Can't see it being anything other than a fire-sale for personal reasons. Net assets per share excluding Eclipse come to about 97p. Eclipse worth at least another 60p per share IMO.

[mickinvest] 16/11/2007 07:58

I hope that was someone selling their inheritance from the late chairman!

Mick

[whackford] 16/11/2007 07:55

One sale of 48,437 @ 80p yesterday pm.

[whackford] 13/11/2007 11:33

Thanks Des - very interesting. There have been some concerns expressed about connectivity (to the grid) for similar developments. Hopefully, with so many turbines in place around Barrow, that won't be a restriction.

I certainly hope to get an indication from the ARA where WTE are with Eclipse and a staement as to when/what circumstances DES and SEY would be sold. And is WTE looking to keep going long term and make further investments?

[deswalker] 13/11/2007 08:48

whackford

Nothing to get excited about I'm afraid but a couple of tiny mentions in connection with the larger windfarm announced last week. Simply stating that they got the go-ahead earlier in the year. Hardly new news but an indication that the local press still thinks it's alive and I see absolutely no reason to suspect otherwise. Slow progress but we'll see quite a bit of progress in the next six months IMO.





Des

[whackford] 13/11/2007 08:35

Des. You say that you have seen local press snippets re. Eclipse. Can you guide me to these or paste some here, please?

I would have thought a decent multiple of book value was correct otherwise the Eclipse investment was ill conceived. It's been dragging on for quite a few years now, so a decent return is to be expected.

Regarding ARA, I observe that last year's were signed off by the chairman on 5 Dec 2007.

[mickinvest] 12/11/2007 12:54

Agreed Des re SEY, just need Thunder Stud or whatever its called to come in and we should see a decent spike here.

Results here normally out early December so should get Eclipse update shortly.

Mick

[deswalker] 12/11/2007 12:51

Very nice news from SEY today.

Looks like it wasn't WTE selling DES based on the new DES RNS.

Eclipse is quiet but there have been some recent local press snippets indicating that everything is running okay. Hopefully the major contracts are being awarded as we speak (late 2007 was quoted back in the spring) and we'll see some real progress next year. Quite what Eclipse is worth remains the big question but it must be a multiple of Book Value IMO.

[bisiboy] 10/11/2007 12:07

sterling are as cheap as chips, but something must be wrong with eclipse its to quite for me

[whackford] 09/11/2007 11:32

Des. I see your point. If WTE does sell DES I would hope that we get proper warning so that we can take a position in DES and not miss the boat.

I do not mind if SEY is sold because cannot see much immediate upside here, but I am ill qualified to pass comment on this complex company.

Regarding Eclipse, still no news. Will the credit crunch make a float more difficult or affect its value?

I hope WTE becomes more communicative so that shareholders can see where they are going.

On present form, I stll think WTE is good value.

[deswalker] 09/11/2007 08:47

whackford

I also think DES is good value at these levels but for me WTE is a discount play revolving around Eclipse. Consequently I hope WTE have sold DES and are planning some form of liquidation or corporate restructuring. After all one can always go and buy DES and SEY in the market if one so chooses.

Within WTE I'd like to see everything bar Eclipse turned into cash and returned to shareholders. At current prices this should just about exceed the current market cap leaving the Eclipse holding for free. I've even wondered about the possibility of Eclipse reversing into a WTE shell instead of IPO'ing. Highly unlikely I know but ...

Des

[whackford] 09/11/2007 08:22

When WTE disposed of CDS they got out an RNS same day. No sign of RNS. Unless DES quantity misreported I don't think it can be WTE. In any case,why dispose of almost all of 5.5m shares (and retain a small holding)?

I therefore assume it is not WTE. I would have been very annoyed if WTE had disposed of DES at 26.5p at the present time when things seem to be warming up in the Falklands.

[deswalker] 08/11/2007 16:40

Good spot Mick. Fingers crossed it's WTE.

[whackford] 08/11/2007 16:25

Mickinvest. Well spotted. Yes, I think WTE have (or had) 5.5m DES. Still, could be a mistake in reporting. If it turns out to be WTE's then it may be that we are in for a total liquidation (hopefully after windfarm float) and payout to shareholders. So it may be Sterling Energy next!

Presume WTE will make an announcement late today or tomorrow if it was their Des holding.

Presume also WTE's ARA soon, in which I hope to see strategy properly defined.

[mickinvest] 08/11/2007 16:05

5,005,000 trade on DES at 26.5p, wouldn't be WTE's would it?

Mick

edit, just checked and its 5.5m WTE hold but could be.

[mr multibagger] 24/10/2007 14:50

Could someone please kindly tell me what the URL is for the WTE website?