Westmount Energy Share Discussion Threads

[btfd] 27/2/2019 14:19

And ECO up near 100% since finals

[btfd] 27/2/2019 14:16

Not just JHI .. Ratio Petroleum investment is up near 250% since they announced in finals they'd taken 1% of the co.

[btfd] 27/2/2019 12:47

could still be good gains here imo

[wh0sthedaddy] 27/2/2019 11:36

WTE have built up a position spanning the three most prospective blocks neighbouring Stabroek... Even Exxon and Total can't say that :)

Looks like more JHI could be on the way too given that directors currently hold shares and would rather swap them for WTE

[mick] 27/2/2019 10:49

Very pleased to see WTE increase its stake in JHI. JHI hold 17.5% of the Canje block along with Exxon 35%, Total 35% and Mid Atlantic 12.5%. The Canje block adjoins the Stabroek block where Exxon / Hess have already found 5bn barrels in 12 successful wells so far.

JHI is fully carried for the first four wells on Canje with the first well expected to be drilled by Exxon by the end of this year or early 2020.

The management of WTE have excellent pedigree having grown and sold Cove Energy for over £1bn.

WTE is building up a very nice and appreciating portfolio of Guyanese assets and of course, there is always the distinct possibility of an RTO of Westmount - now that would be very exciting!

[wh0sthedaddy] 27/2/2019 09:45

50% up now!

Guyana is the place to be :)

[wh0sthedaddy] 27/2/2019 09:19

JHI news today, and both ECO and Ratio looking good at +200% gains on their investment.

If all three drill successful wells in 2019/20, the sky is the limit.

Almost no free float here and ticks up on every buy. Totally under the radar, but just wait until the drill bit starts turning in Guyana!

[mick] 25/2/2019 07:45

Initial Colter result is a discovery with hopefully more to come with the sidetrack. The WTE Net Profit Interest, although small at 0.5%, must be worth something.

[mick] 11/2/2019 17:53

I agree Divmad. Total raised €1.6m - it will be interesting to see in which Guyana player it is invested.

[divmad] 10/2/2019 04:28

I take it that there were no more takers for their CLNs over and above the initial £1.6mn issued to insiders, otherwise we should have got an updated RNS by now. I am intrigued by what they might have in mind as an investment for that newly raised cash.

[mick] 06/2/2019 19:19

Good to see Eco trading at the equivalent of 75p in Toronto this evening. ECO alone is worth nearly 5p a share to WTE.

[packman8] 03/2/2019 19:55

Definitely a back door way into the Guyana story. Ensco72 is now on location, and should be drilling this week.

[mick] 03/2/2019 18:47

No news packmand. But the WTE investment in ECO is going very well 3.125m @ 62p = £1.9m = worth 4.1p per share to WTE. ECO actually traded at the equivalent of 70p in Toronto on Friday so I suspect the WTE investment in ECO will be worth more tomorrow.

WTE's investments in Ratio Petroleum and JHI also give exposure to potentially valuable blocks (Kaieteur and Canje block's respectively) offshore Guyana. Both blocks adjoin Exxon's Stabroek block. WTE also has a small 0.5% Net Profit Interest in the soon to be drilled Colter drill in the UK.

WTE's free float is only 19m shares (40% of 48m shares in issue).

I reckon the current share price 10p is pretty much underpinned by the current investments plus cash. Any good news from ECO's Orinduik drilling or drilling in Kaieteur and Canje could be transformational for WTE's investments.

There is always the possibility that WTE will be used as an RTO vehicle by some of its investees.

With WTE's exposure to Guyana exploration and its shares so tightly held, 2019 could be a very exciting year for its shareholders

[packman8] 01/2/2019 12:02

Mick,
Have you heard of any other news in the offing?

[mick] 18/1/2019 18:40

I wonder is it more than just ECO?

[packman8] 18/1/2019 10:43

Moving up on the rise of ECO.

[packman8] 18/1/2019 10:41

Moving up on the rise of ECO.

[mick] 18/1/2019 10:10

Interesting to see some action in WTE - I suspect that the long awaited corporate transaction is making progress!!

[vraic] 09/12/2018 19:38

AGM Monday 10th Dec. Am still a log term holder.

[mick] 02/10/2018 09:08

From Infrastrata's announcement;No value was ascribed to the Net Profits Interests in the Company's most recently published annual accounts for the year ended 31 July 2017.Presumably WTE purchased them for small money.

[divmad] 02/10/2018 07:59

How much did WTE pay for these NPI acquisitions?

[cpap man] 02/10/2018 07:53

Following on from ADL in another format but WTE are joining in with UOG and the others at the COLTER party amongst various....



The Directors believe the NPIs - being a 0.5% NPI in licence P1918 (Colter Prospect), a 0.5% NPI in licence P2222 (Oulton Discovery) and a 1.0% NPI in licence P2235 (Wick Prospect) - offer low-cost exposure to near-term exploration and appraisal drilling targets, with independent prospect risks and potential for substantial value uplift, in the success case, without requiring further investment by the Company.

[mick] 03/9/2018 16:18

This company has made some shrewd moves into Guyana connected companies, ECO, Ratio and now JHI. They could pay off big time for these ex Cove directors.

[deacondeep] 01/6/2018 09:53

I'm also pleased with this - toe-dipping in Guyana/Surinam could be forerunner to a much more strategic stake in Ratio.

[mick] 01/6/2018 07:22

Interesting development today regarding the little stake in Ratio Petroleum. Positioning the company in a hot exploration part of the world.Pleased!