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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 1.40 | 1.60 | 1.50 | 1.50 | 1.50 | 25,010 | 07:31:42 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | -2.7M | -2.97M | -0.0206 | -0.73 | 2.16M |
TIDMWTE
RNS Number : 4964T
Westmount Energy Limited
14 November 2019
14 November 2019
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Portfolio Update
The Board of Westmount is pleased to provide an update on the Company's offshore Guyana investment portfolio, which is composed of four investee companies as summarised in the table below.
The focus of the Company's current portfolio is JHI Associates Inc. and Cataleya Energy Corporation, both of which are unquoted, private companies and which together constitute approximately 78% of the Company's portfolio based on financial values as reported by the Company as at 30 June 2019(2) .
The Westmount Board estimates that this portfolio provides shareholders with exposure to a range of independent, Upper Cretaceous prospects in the Liza play fairway, and at least three ExxonMobil operated, high impact, wells between now and the end of 2020. The Company's full portfolio has the potential to provide exposure to up to seven wells over the next 12 months, with scope for a transformational value uplift in the success case.
As at 14 November 2019, Westmount's investments with exposure to offshore Guyana are as follows:
Company Quotation Westmount Percentage Main Percentage Holding of issued Asset of Westmount shares Portfolio(2) 2,213,770 JHI Associates common 3.0% issued 17.5% Canje Inc. Unquoted shares shares(1) Block 29.0% 567,185 Cataleya Energy common 5.4% issued 25% Kaieteur Corporation Unquoted shares shares Block 48.5% 1,500,000 Eco Atlantic Oil common 0.8% issued 15% Orinduik & Gas Ltd. Quoted shares shares Block 11.4% Ratio Petroleum 1,200,000 0.7% issued 25% Kaieteur LP Quoted share units shares Block 11.0%
(1) Figure assumes that JHI Associates Inc is unchanged from the figure as at 21st December 2018
(2) Percentage of current Guyana Portfolio NAV using financial values reported on Balance Sheet date 30th June 2019 (with post balance sheet purchases referenced to that date)
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
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(END) Dow Jones Newswires
November 14, 2019 12:56 ET (17:56 GMT)
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