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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 Shares Traded Last Trade
  0.00 0.0% 12.00 93,294 08:00:19
Bid Price Offer Price High Price Low Price Open Price
11.50 12.50 12.00 12.00 12.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -0.11 -0.11 17
Last Trade Time Trade Type Trade Size Trade Price Currency
08:22:17 O 60,000 12.50 GBX

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Date Time Title Posts
05/3/202121:36Westmount Energy: Charts & Fundamentals1,869
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

Trade Time Trade Price Trade Size Trade Value Trade Type
08:22:1812.5060,0007,500.00O
08:00:2111.7233,2943,902.06O
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Westmount Energy (WTE) Top Chat Posts

DateSubject
08/3/2021
08:20
Westmount Energy Daily Update: Westmount Energy Limited is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker WTE. The last closing price for Westmount Energy was 12p.
Westmount Energy Limited has a 4 week average price of 11.25p and a 12 week average price of 11.25p.
The 1 year high share price is 22.50p while the 1 year low share price is currently 7.25p.
There are currently 144,051,486 shares in issue and the average daily traded volume is 1,265,279 shares. The market capitalisation of Westmount Energy Limited is £17,286,178.32.
05/3/2021
15:07
corrientes: Agreed, and the planned ramping on some other threads was disgusting ; probably part of a clique that has 'disappeared'. I now doubt if there'll be a significant share price increase ahead of the next well, even although with the new information obtained, it must give the drillers grounds to remain optimistic.
17/2/2021
20:29
mick: Remember there are some JHI shareholders that reduced their exposure to Canje risk by selling some of their JHI shares to WTE - thats how WTE built its stake in JHI. Some of these may now be liquidating some of their WTE holding in advance of the Bulletwood result.
06/1/2021
15:43
robs12: Yes...If Bulletwood-1 comes in 'as expected', WTE should fly, and certainly multi bagger longer term. Not only due to the value of that one well but derisking of the other prospects. 1.26% of 10bn bbls at whatever price per bbl someone might want to buy into the block for (JHI have stated they will sell out after discovery, WTE have stated they have "Potential for transformational transaction in future - possibly via RTO".). $5/bbl would be £466m, vs current WTE market cap of £32m. Not including their stakes in Kaieteur, ECO, Ratio (not written off yet!). GLA
09/11/2020
10:56
fishbournetrader: https://www.worldometers.info/oil/ World oil demand has been constantly rising and has not reached a peak yet, with the exception of 2020 which will see a fall for the obvious reasons. Suriname and Guyana are no where on the list of oil reserves which dates from 2016. They could soon be near the top. Short term rises and falls in the share price of WTE are irrelevant to the long term prospects for the share price if several of the wells are successful.
09/11/2020
10:39
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.
01/11/2020
17:26
robs12: Information on Canje potential is not that easy to find. This video (link at bottom) is a JHI presentation from June 2019 and quite informative (more than can be found elsewhere I think!). JHI hold 17.5% of Canje, and WTE hold 6.9% of JHI, so WTE have ~ 1.2% of Canje. Bulletwood-1 is targeting 500MMBBL more or less P-mean recoverable "looks exactly like Liza". Second well targeting much larger fan estimated at 1-1.2BnBBL P-mean recoverable. Multi-well campaign (JHI are carried for 4 wells) is targeting 7BnBBLs (!) Liza age equivalents with "significant exploration upside" from shallower and deeper prospects. The DeGoyler McNaughton CPR attributed from 12 prospects 1.2BnBBL net to JHI (that's ~83MMBBL to WTE). JHI plan to exit via an asset sale sometime after discovery. WTE in their last presentation stated "Potential for transformational transaction in future - possibly via RTO". They've just made a share swap with JHI, so would seem fairly obvious what the plan might be.. https://www.youtube.com/watch?v=RpcwXurxh60 Edited to add, possibly interesting... 1) the 1.2BnBBL from the DeGoyler CPR mentioned in the video is based on 12 prospects "that we gave to them" i.e. JHI/DeGoyler only looked at 12 prospects (?), whereas the AR posted above says JHI now report "more than a dozen prospects" and 10BnBBL recoverable (which would be 1.75BnBBL to JHI, 120MMBBL to WTE). 2) For anyone who wants a little more detail on the basin..: hxxps://guyaneseonline.files.wordpress.com/2020/10/presentation__hydrocarbon_system_and-major-tectonic-events-of-the-guyana-basin_nibbelink-jhi-associates.pdf
16/9/2020
12:52
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.
10/8/2020
09:49
phoebusav: Having crunched the numbers for the prospects across WTE's 4 blocks in Guyana and Suriname, WTE's total exposure amounts to 97.3 MMB P50 net recoverable with an average COS of 31.3%. At $5 per barrel that equates to £379M or 301p unrisked and 94p risked. The current drilling plan for the next 12 months appears to be for 7 wells which I anticipate will be [Canje Block] Sapote, Jabillo, Bulletwood, [Kaieteur Block] Tanager, Toucan, [Orinduik Block] Amalia/Kumaka and Iatuk-D. This amounts to 40.8 MMB P50 net recoverable to WTE or 126.5p unrisked and 51.7p risked at $5 per barrel. Prior to the Covid crisis Hess and Exxon were touting $7 per barrel for Guyana oil in the ground and ECO topped that valuation on hitting pay dirt at Joe and Jethro. This would equate to 177.1p unrisked and 72.4p risked for WTE. The great thing is this target price is based on accretive value from multiple largely Exxon operated wells rather than a single high risk binary event. Given the immense success so far on this fairway I will be very surprised if WTE does not have 5 to 6 major discoveries and at least 30 MMB under its belt this time next year and a share price well north of 100p.
28/5/2020
13:55
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... GLA
28/5/2020
13:36
mick: Taken from LSE Board today. Looks like WTE is now only a few weeks away from the spudding of Tanager-1 on the Exxon operated Kaieteur block. Well is targetting 256.2 MMB P50 recoverable with an amazing 72% COS. Looks to be bang on trend with the huge number of discoveries on the adjacent Stabroek block, the most prolific oil exploration block of recent years. Through its holdings in Cataleya and Ratio Petroleum WTE has a 1.53% interest in the licence amounting to 3.9 MMB P50 net recoverable for Tanager-1. In addition the block contains a further 1.86 billion barrels in 8 targets giving a total of 31.9 MMB P50 net to WTE on block including the tantalising Toucan prospect with 702.7 MMB P50 net recoverable at a whopping 56% COS. https://ratio-media.s3-eu-central-1.amazonaws.com/g2_002.JPG WTE also has a 0.84% interest in the Exxon operated Canje block, also adjacent to the prolific Stabroek block, through its holding in JHI Associates. Several targets have been identified for drilling including Bulletwood-1, Jabillo-1 and Sapote-1. I have not seen and resource figures, but imagine they will be of similar size and COS to those on Kaieteur. WTE also has a 0.12% interest in the Tullow operated Orinduik block, also adjacent to Stabroek, through its holding in ECO Atlantic. Further major exploration drilling is anticipated for 2021 targetting around a billion barrels. Prior to the virus outbreak Exxon was planning to drill a total of 6 wells on Kaieteur and Canjie over the net few months all at zero cost to WTE. Exxon is currently still going ahead with Tanager-1 which is expected to spud next month. If all seven wells (Kaieteur 3, Canje 3, Orinduik 1) are drilled as originally planned that should amounts to around 30 MMB P50 net recoverable to WTE, with further upside in additional targets. Six of the wells are Exxon operated, many have a high COS and all are on trend with the prolific Stabroek block. The current NAV of its block interests is around 10p per share, which underpins 2/3 of the current market cap of only £17M. The shares are also thinly traded so any interest in the shares will lead to a very rapid increase in share price especially with the first well coming in at 72% COS! Given all of this I expect WTE will perform extremely well indeed in the days and weeks ahead. STRONG BUY
Westmount Energy share price data is direct from the London Stock Exchange
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