We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Westmount Energy Limited | LSE:WTE | London | Ordinary Share | GB00B0S5KR31 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.025 | -1.72% | 1.425 | 1.40 | 1.45 | 1.45 | 1.425 | 1.45 | 75,095 | 12:44:45 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | -2.7M | -2.97M | -0.0206 | -0.69 | 2.05M |
TIDMWTE
RNS Number : 0005Z
Westmount Energy Limited
28 August 2018
The information contained within this announcement (the "Announcement") is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this Announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
28th August 2018
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Investment in JHI Associates Inc.
The Board of Westmount is pleased to announce that it has purchased 1,110,000 common shares in JHI Associates Inc. ("JHI") commencing on 31(st) December 2016 and completing on 24(th) August 2018. The total consideration, including transaction costs, of GBP809,840 has been funded from Westmount's existing cash resources.
JHI is a private, Ontario registered, company established in 2014 and focused on oil exploration opportunities in the emerging Guyana-Suriname Basin. The company's main asset is a 40% carried interest (17.5% carried interest, subject to approval of Total Farm-in transaction announced in February 2018) in the Canje Block covering over 6,000 square kilometres, offshore Guyana. This block is located adjacent to and in the same geologic basin as the Stabroek Block which has delivered eight substantial oil discoveries since 2015, with reported discovered recoverable resources in excess of 4 billion oil-equivalent barrels to date.
ExxonMobil, which is the operator of both blocks, acquired in excess of 6100 km(2) of 3D seismic on the Canje Block in 2016 and this dataset is currently undergoing processing and interpretation with a view to evaluation of a future drilling program.
Westmount's holding in JHI represents less than 1% of the fully diluted shares and, at cost, as of 31(st) December 2017, represents approximately fifty-six per cent of Westmount's gross assets. Westmount reported a loss for the Year End 30(th) June 2017 of GBP200,500 (audited), whereas JHI incurred a loss of USD $5,203,852 (unaudited) for the Year End 31(st) December 2017.
This investment is consistent with Westmount's strategy of seeking exposure to opportunities in the prolific Guyana-Suriname Basin, which the Board considers to be a major emerging hydrocarbon province.
Further disclosure with respect to JHI is available through SEDAR and their website at www.jhiassociates.com.
For further information, please contact:
Westmount Energy Limited www.westmountenergy.com David King, Director Tel: +44 (0) 1534 823133
Jane Vlahopoulou
Cenkos Securities plc (Nomad and Broker) Tel: +44 (0) 20 7397 8900
Nicholas Wells / Harry Hargreaves (Corporate Finance)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
AGRFKFDQCBKKDFB
(END) Dow Jones Newswires
August 28, 2018 05:46 ET (09:46 GMT)
1 Year Westmount Energy Chart |
1 Month Westmount Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions