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WTE Westmount Energy Limited

0.00 (0.0%)
Last Updated: 08:00:00
Delayed by 15 minutes
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 Shares Traded Last Trade
  0.00 0.0% 1.825 5,108 08:00:00
Bid Price Offer Price High Price Low Price Open Price
1.80 1.85 1.825 1.825 1.825
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec -2.7M -2.97M -0.0206 -0.88 2.62M
Last Trade Time Trade Type Trade Size Trade Price Currency
10:02:08 O 108 1.8485 GBX

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Date Time Title Posts
27/9/202320:45Westmount Energy: Charts & Fundamentals2,080
11/1/201612:30Westmount Energy with Charts6
06/1/200614:33Sunday Telegraph says "Buy Westmount Energy"156
10/9/200420:01Any info on Westmount Energy1
21/5/200409:16The Black Slick to Getting Rich3

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Westmount Energy (WTE) Most Recent Trades

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Westmount Energy (WTE) Top Chat Posts

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Posted at 04/12/2023 08:20 by Westmount Energy Daily Update
Westmount Energy Limited is listed in the Offices-holdng Companies,nec sector of the London Stock Exchange with ticker WTE. The last closing price for Westmount Energy was 1.83p.
Westmount Energy currently has 144,051,486 shares in issue. The market capitalisation of Westmount Energy is £2,621,737.
Westmount Energy has a price to earnings ratio (PE ratio) of -0.88.
This morning WTE shares opened at 1.83p
Posted at 27/9/2023 18:44 by dogberry202000
Ah well. Interesting RNS with Exxon and Hess giving up their share of the Kaieteur Block. Ratio Guyana (owned by Ratio Petroleum) are already in talks with other major oil companies and there is a time schedule before the licenses run out.

Read another way, Exxon intend to go ahead with drilling the Canje Block. It's still all to play for!!!
Posted at 30/5/2022 15:03 by ratiopetrolguy
News coming soon this funny price don't stay long
Good luck catalaya with the enter to namibis
Posted at 29/4/2022 13:08 by ratiopetrolguy
I think gazania make westmount share price raise to 14p
Good luck and be patient a lot of drills before us
Gazania drill
Canje drill
4b drill
Orduink drill
Posted at 23/2/2022 13:55 by ratiopetrolguy
We hv 3 infulence drills this year:

1. Gazania q3 wte hv 1,500,000 eco shares
Discovery make this invest to be worth 6 million dollarals 50% upside.

2.kaieteur block q4 drill , wte hv 5% hold in catalaya inc. if the made discovery the make ipo with 1 billion worth wte make 150% profit and upside.

3.canje block q4 - wte hv 7.7 % at jhi stocks if make discovery it's will worth 30 million pounds 200% upside..

So be patient the chances with us!!!!
Posted at 10/1/2022 21:42 by corrientes
Years ago, on the strength of the majors' finds, WTE's share price would have been much much higher by this time in the cycle, but nowadays, just as in precious metal exploration, until a company actually finds something meaningful, the Market isn't terribly keen.

The difference is that speculation in both hard and soft commodities has been supplanted by technology spec where fortunes have been made for the risk takers. Maybe this will change, but it'll take a major shift in sentiment to make that happen. Thank goodness however, history shows that nothing is forever.
Posted at 14/10/2021 11:08 by robs12
@bionicdog - I don't think so. People just catching on to the potential here and that a result is just days away. Doesn't take much volume at all to shift the share price a lot here, it is very tightly held.

WTE holds 7.2% of JHI, who in turn have 17.5% of the Canje block - so an effective 1.26% of the block.

Sapote-1 is described as potentially the largest drill on Canje to date, and Jabilo-1 (previous drill) was targeting 1Bnbbls.

So if a positive result and commercial, WTE should have at least 1.26% x 1bn = 12.6Mbbls, worth at say $10/bbl, approx £92m - on this well alone.

WTE market cap is ~£20m after yesterday's and today's rises.

With another 12 drills lined up starting Q1 next year, and seven prospective areas identified so far, then the potential at Canje is huge.


Of course, what WTE is worth will be down to what JHI is worth and what they do. JHI's plan is to (hopefully) make the discoveries then sell up. I suspect there will be many suitors knocking on JHI's door if things go well.
WTE have talked of a potential RTO previously - guess that might be another route...

And that's without even taking Kaieteur into account..
Posted at 12/8/2021 11:30 by phoebus_av
WTE looks fantastic value at these levels

Huge thanks again Harel for posting such excellent information. The news that Exxon is seeking to undertake a 12 well campaign on Canje is massive news for WTE and transforms the outlook for the company and the shares. Despite being about to drill Sapote-1, the biggest drill for WTE in terms of net barrels and closest to the main action on the massively successful Stabroek Block and Block 58, the market seems to have practically written off WTE and is pricing it as if this next drill is last chance saloon for the company when nothing could be further from the truth.

With further drill program announcements due soon on Kaieteur, thanks again Harel, and ECO expecting to announce drill plans on Orinduik by end Q3, it seems that WTE may soon have exposure to an extraordinary number of wells in Guyana over the coming 18 months making the current share price an absolute steal.

WTE first entered Guyana in February 2017 when it took part in ECO's listing placing on the LSE. At that time only the Liza, Liza Deep and Payara discoveries had been made on the Stabroek Block. Since then Exxon has made over 20 discoveries on block totalling over 9 billion barrels, several discoveries have been made on the adjacent Block 58 in Suriname and a few others in other adjacent blocks.

During this time WTE has steadily built a portfolio of indirect interests in three licences adjacent to Stabroek and one in Suriname via shareholdings in JHI, Cataleya, ECO and Ratio. This has been largely funded using WTE shares issued at an average of around 12.25p over this period, a 50% premium to the current share price The fact these holdings are indirect means that WTE will not have to go cap in hand to shareholders to fund the huge number of wells expected, but can sit back and enjoy the ride.

Although modest in percentage these interests give WTE exposure to P50 net recoverable in the order of 150 MMB. Previously Stabroek partners suggested that due to extremely low break evens that barrels in the ground in this area are worth around $7 per barrel, which puts WTE's blue sky potential at around £750M or 520p per share as against a current market cap of only £12.M and 8.5p share price. Clearly that will not all be realised, but it will take very little in the way of success to seriously move the needle here and it looks like WTE is going to have a huge number of largely Exxon operated rolls of the dice to do so.

The shareholder register is also very interesting with several directors holding significant positions in the company including Chairman Gerard Walsh 8.28%, Dermot Corcoran 3.64%, ex-Cove CEO John Craven 3.64% and ex-Cove Chairman Tom O’Gorman 3.23%. It should be noted that Cove Energy was a huge success story with the directors turning it from tiny exploration company with minority stakes in oil major operated blocks in a prolific area into a £1.2 billion takeover success story. Sound familiar? I think these guys know a good thing when they see it.

Given the unprecedented exploration success in Guyana and Suriname, WTE's increased investment in the adjacent blocks funded at a significant premium to the current SP, the huge number of mostly Exxon operated wells WTE have to look forward to at no extra cost, the large oil potential for such a small market cap and the major BOD holdings and great track record, it is remarkable that the share price is currently at the lowest since WTE first moved into Guyana more than 4 years ago. Draw your own conclusions, but for me, this is a very strong buy at these levels.
Posted at 09/11/2020 10:39 by corrientes
Two things bothered me about investing in WTE - 1) the politics, but I think that problem of 'theft' from the country, if it had any validity, should have been pursued by the then opposition when they had a chance to and 2) the green movement changing sentiment, but Western countries will need huge amount of fossil fuels to have any chance of avoiding total economic collapse, and which offsets general decline in oil consumption.

I don't know much about oil companies, but when you look at the higher caps of other specs with far less attractive prospects, and the much higher potential of this one in a 'hot' oil province, allying itself with mega major oilers, it does make you wonder. With results from drilling shortly, the price so far today is down !! Is WTE share price deliberately supressed or is it just a market anomaly. LOL.
Posted at 16/9/2020 12:52 by phoebusav
Most folks probably haven't bothered to do their homework on this one because working out WTE's exposure is a bit 'hard' due to indirect holdings or because they think their interests are too tiny to be of any value. If you work it out though then look at the market cap and then consider this is right next to Stabroek it looks super compelling. OK, oil price was higher, but when ECO was drilling Joe and Jethro last year it hit $3.97/BOE in the run up to drilling before settling at $2.67/BOE just before drill results. Based on Tanager, Bulletwood, Jabillo, Sapote and GV-N drills WTE share price would need to be between 56p and 83.1p to reflect the same valuation per BOE pre drill. Current share price is like buying ECO last year at 25p in the run up to Joe and Jethro. ECO is 22.5p right now and they're not even drilling for some time! Current WTE share price looks a steal.
Posted at 28/5/2020 13:55 by robs12
Westmount holds ~ 4.8% of JHI.
JHI hold a 17.5% carried interest in the Canje Block covering over 4,800 square kilometres, offshore Guyana. This block is located adjacent to and in the same geologic basin as the Stabroek Block which has delivered sixteen substantial oil discoveries since 2015, with reported discovered recoverable resources in excess of 8 billion oil-equivalent barrels to date.
ExxonMobil is the operator of both blocks.

"The proximity to these world-class source rocks means that reservoirs on the Canje block are in direct contact with the source, and are charged through vertical migration. Effectively, Canje’s reservoirs are filled first before hydrocarbons migrate up-dip to other blocks." (JHI website)
"Canje Block is the same size and adjacent to the productive portion of the Stabroek Block operated by ExxonMobil, with recoverable reserves exceeding 4 billion barrels. Utilizing block wide 3D seismic, JHI’s technical team is working closely with ExxonMobil to select drilling locations on multiple billion-barrel prospects, each demonstrating direct hydrocarbon indicators identical to successful wells in the Stabroek Block." (JHI website)

As a result of a 2018 farm-out to Total, JHI is carried for the drilling of up to four wells and is funded for the drilling of additional wells.
It is anticipated that the first well on the Canje Block, Bulletwood-1, will be spudded in H2 2020, with the possibility of additional drilling by the end of the year.

That's about the closest I've found to any figures - multiple billion bbl prospects, same size as Stabroek which has >4bn bbls recoverable.
Though likely that JHI would sell out at some point sooner rather than later (after the 4 carried wells?), and who knows what they'd be valued at.... 4bn x 17.5% = 700mn bbls @5$ is $3.5bn. 4.8% of that (i.e to WTE) is $168m.

WTE have bought their 4.8% stake in JHI for approx $5.3m (£4.3m) (if I am interpreting the slightly obscure wording "At cost, Westmount's holding in JHI equates to approximately 38.1% of the value of Westmount's gross assets as of 31st December 2019." correctly?).

So it could be very, very good for the WTE share price if they strike...
Then there's Kaieteur next.

All assuming there's no shenanigans about the validity of the licenses by the Guyana government, though that seems unlikely given how far in Exxon are already, but you never know...

Westmount Energy share price data is direct from the London Stock Exchange

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