Westmount Energy Share Discussion Threads

[mick] 28/5/2020 13:29

Nice jump this morning - I wonder why?

[gowlane] 21/5/2020 17:01

This seems an interesting speculation and nicely under the radar, though not without its risks.

What kind of newsflow are we expecting next, confirmation of the drill in Tangier I suppose?

[mick] 12/5/2020 20:51

Good to see WTE's indirect interest in Canje block increased to nearly 1% (4.8% shareholding in JHI which has a four well carry on 17.5% share in Canje block. Exxon are the operator and are planning to drill at least three wells on Canje immediately adjacent to the Stabroek block. H2 could be very profitable for WTE shareholders.

[robs12] 12/5/2020 07:24

Bought (with WTE shares valued at 14.745p, despite market price less than 10p!!) another chunk of JHI - now hold 4.8%.

[ein4] 05/5/2020 12:11

Interest is growing in W T E and also in ECO, may be a good year for these two?

[mick] 05/5/2020 12:04

Taken from the LSE Board. WTE have an indirect interest of 1.6% in Kaieteur block via their stakes in Cataleya and Ratio Petroleum. WTE also has an indirect interest of 0.5% in the Canje block via their stake in JHI. Both Kaieteur and Canje blocks adjoin the Exxon's prolific Stabroek block 8bn barrel reserves.


The US supermajor will drill the Tanager-1 well on Guyana’s Kaieteur permit before an adjusted mid-September deadline, sources with direct knowledge of the project told Upstream.
The drillship Stena Carron has been lined up to drill the Tanager prospect in 2900 metres of water and to a targeted total depth of 8000 metres, Upstream was told.

Canje block

In the case of the other deep-water block, called Canje, there is no agreed deadline between the partners, only an official well commitment, which is still more than two years from the time limitation period.
On Canje, ExxonMobil had targeted the Bulletwood prospect, at a water depth of 2800 metres.
Here, ExxonMobil is said to be focusing principally on a confined channel in the Upper Cretaceous, with the possibility of pursuing secondary Lower Tertiary and deeper Lower Cretaceous targets, but it is no longer clear if these plans will still go ahead in 2020

[thelings] 03/2/2020 11:55

Hess talked about the Kaiteur block drilling with Exxon on its 4Q call and Exxon now makes note of it (and Canje) on its Guyana slide on Fridays conf call. Drilling when the 5th ship arrives shortly

[mick] 08/1/2020 13:30

Yes indeed plunger2. WTE's Canje block, via its shareholding in JHI, is adjoins two successful blocks Stabroek and now Block 58 in Suriname. The Bulletwood well later this year should be exciting for WTE shareholders.

[plunger2] 07/1/2020 23:38

Apache's Suriname find might help too:

[mick] 06/1/2020 16:35

It looks like the market is waking up to the potential of WTE's participation in at least two Exxon operated drills offshore Guyana in 2020;

Tanager 1 will take place in Kaieteur Block. WTE's indirect share in this block is 1.6% via its shareholdings in Cataleya and also in Ratio Petroleum.

Bulletwood 1 will take place in the Canje Block. WTE's share in this block is 0.5% via its shareholding in JHI Associates.

Both Kaietuer and Canje blocks are immediately adjacent, to Exxon's prolific Stabroek block.

WTE currently valued at £18m so considerable upside.

[papillon] 13/11/2019 15:58

Surprised no comments today on the big percentage drop in the share price following on from the TLW RNS. Still ECO has had a bigger drop.

[robs12] 20/9/2019 14:27

On the assumption that 1) there is no shenanigans over the validity of the licences and 2) they actually drill and find commercial oil in Kaieteur, then yes, could do very well indeed ..

[plunger2] 19/9/2019 21:30

Got to be interesting strategically with ME looking very dodgy.
If this becomes a new oil province WTE could do really nicely.

GLA

[hugothesecond] 02/9/2019 17:19

Nice roll over today - someone is happy to continue holding !

[hugothesecond] 29/8/2019 16:55

On any further positive news this is going to move quickly - todays small trades show how tightly the stock is held.

[ein4] 23/8/2019 12:59

Yes indeed, its going to be very exciting over the next year, huge upside?

[hugothesecond] 23/8/2019 11:33

Despite low subscription price it will be difficult for new holders to enter under 20p as we can see small purchases are driving up the price. Exciting times ahead !

[mick] 23/8/2019 11:03

So WTE now holds 5.4% of Cataleya which in turns holds 25% of Kaieteur block. Along with its 1% shareholding in Ratio which also holds 25% of Kaieteur block, WTE effectively have a net 1.6% interest in the Kaieteur block. Ratio's CPR for Kaieteur is 2.1bn b.o.e. WTE also holds a net interest of 0.5% in Canje block via its 3% stake in JHI. Both blocks due to be drilled by Exxon in the next 12 months.

While a bit surprised that the fundraising was done at a low price of 13p, overall happy to see WTE increasing its exposure to Kaieteur.

I also find the following comment quite intriguing 'there may be further investment opportunities for the Company in the short to medium term with the potential for a transformational transaction in due course'.

Overall, it feels like it could be a very exciting 12/18 months for WTE.

[robs12] 21/8/2019 20:31

Seems to be getting steadily chased up in the last few days. People cottoning onto how to get into Kaieteur and Canje, and spread the risk a little as well.

(Yes, the share price is well above NAV - this is about what happens if either or both blocks are discoveries.....and of course what ultimately happens to ECO).

I've a reasonable stake now, being a believer that the other Guyana blocks will be fruitful too.

DYOR and GLA!

[mick] 12/8/2019 15:19

Correction Kaieteur is on the East side of Stabroek, not West side as in my earlier post.

[mick] 12/8/2019 14:45

Interesting to see Ratio Petroleum up 18% this morning in Tel Aviv, presumably on the back of the Jethro result which may have had a read-across for Ratio's 25% share of the Kaieteur block.

The real excitement for WTE will be when Kaieteur and Canje blocks are drilled within the next year.

Through its holdings in Ratio (who hold 25% of Kaieteur) and Cataleya (who also hold 25% of Kaieteur), WTE indirectly holds nearly 1% of Kaieteur block. Kaieteur is on the west side of Exxon's prolific Stabroek block with nearly 6bn boe reserves already. Exxon holds 35% of Kaieteur. Ratio's CPR for Kaieteur is showing prospective resource of 2.1bn barrels. See extract from WTE announcement in May;

Westmount Energy Limited

15 May 2019

15(th) May 2019

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

Investments in Cataleya Energy Corporation & Ratio Petroleum

- Update from Kaieteur Block Partner, Ratio Petroleum

-- Ratio Petroleum publish CPR on Kaieteur carried out by Netherland, Sewell & Associates Inc.
-- ExxonMobil planning to spud the first well in the Kaieteur Block on the Tanager Prospect in the first half of 2020

-- Tanager Prospect assigned a 'Best Estimate' Unrisked Gross (100%) Prospective Oil Resource of 256.2 MMBBLs with an aggregate Probability of Geologic Success (POSg) of 72%.

-- Aggregate 'Best Estimate' Gross Unrisked Prospective Resources for top 9 prospects is 2.1 BnBBLs

-- Ratio Petroleum and Cataleya decline option to be carried by Exxon Mobil on the first well (Tanager)

[robs12] 12/8/2019 10:28

A brief summary on WTE assets:

Argos Resources (Falklands) - 1m shares, quoted LSE.
ECO - 1.5m shares, quoted LSE.
Ratio Petroleum - 1.2m shares (approx 1% of the company), quoted Israel stock exchange, holds 25% of Kaieteur block, due to be drilled H1 2020. Partners Hess and Exxon (operator). Also assets in Suriname.
JHI Associates - 2.21m shares (approx 3% of the company). Unquoted. 17.5% of Canje block, due to be drilled late 2019, with 2-3 more drills in 2020. Carried for cost of 4 wells, partners Exxon (operator) and Total.
Cataleya - 254K shares (approx 2.4% of the company - TWE's buy price valued Cataleya at $100m). Unquoted. 25% of Kaieteur block (as above).

[mr hangman] 12/8/2019 10:26

BOD of directors have done well here, Selling most of their ECO, & having a placing
to buy into a Kaieteur and Canje, that's under investigation

[robs12] 12/8/2019 08:34

Indeed, and the market slow to wake up first thing this morning!
I was able to buy a chunk more before the share price moved up.

There is of course a premium over the NAV, but how else can you easily get a stake in Kaieteur and Canje if you believe they will also be discoveries in the near future?