Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Great news isn't it
Shut the fu ck up for god sake
RNS Number : 5576N
Westmount Energy Limited
25 September 2023
25th September 2022
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Acquisition of North Falklands Basin PL001 by JHI
Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), the AIM-quoted oil and gas investing company focussed on high impact drilling outcomes in emerging basins, notes the announcenment today by Argos Resources Limited ("Argos") with respect to the completion of the acquisition by JHI Associates Inc. ("JHI") of North Falklands Basin Production Licence PL001. As previously announced by Argos, the consideration for the acquisition of operatorship and 100% working interest ("WI") in PL001 is 8,467,820 JHI Common Shares ("the Consideration Shares") and £303,500 in cash, with the Consideration Shares expected to represent approximately 9.3 per cent. of the enlarged share capital of JHI following completion of the transaction.
Production Licence PL001, which covers approximately 1,126 square kilometres, is located in the North Falklands Basin immediately to the west of the giant Sea Lion Discovery which has a currently anticipated Final Investment Decision, for a phased development, in 2024.
Following the completion of this transaction and the passing of resolutions at the Argos general meeting held on the 22nd September 2023, Argos has been placed into members voluntary liquidation and Argos shares, which are currently suspended, will be cancelled from Admission to trading on AIM with effect from 7am on 26 September 2023. Furthermore, as previously announced by Argos, having agreed with certain creditors to settle those liabilities using Consideration Shares, it is anticipated that approximately 7.9 million of the Consideration Shares will be available for distribution on a pro-rata basis to Argos' shareholders on the register at the relevant date.
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 17.5% WI 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 more than thirty substantial oil discoveries since 2015, with reported discovered recoverable resources of in excess of 11 billion oil-equivalent barrels to date.
The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with TotalEnergies E&P Guyana B.V. (35%), JHI Associates (BVI) Inc. (17.5%), and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.
Prior to the completion of the JHI-Argos transaction Westmount held a total of 5,651,270 shares in JHI, representing approximately 7.2% of the issued common shares in JHI as of 31st December 2021; Westmount also held 1,000,000 shares in Argos representing approximately 0.4% of the issued
Tomorrow too....great time to be in here
Keep pumping it Ria….. I’ve got an average of 6p on this pile of craap! If it ever gets news of developments in Guyana then I’ll get excited…. Anything else is a waste of qwerty time.
Great to see on this top of the risers
Cheap 3 years ago was 20.00 now at 2.50 ....broken past 200 day average....technical break out.....multi-bagger coming easy
(Alliance News) - Westmount Energy Ltd on Monday noted an announcement by Argos Resources Ltd, regarding the completion of an acquisition by JHI Associates Inc of the North Falklands Basin production licence, PL001.
Westmount Energy is an oil and gas investing company focused on high impact drilling outcomes in emerging basins. Shares in the firm were up 26% at 2.39 pence each in London on Monday afternoon.
PL001 is located in the North Falklands Basin, immediately to the west of the giant Sea Lion discovery. It covers a total area of 1,126 square kilometres.
As previously announced by Argos, the consideration for the acquisition of operatorship and 100% working interest in PL001 is 8.5 million JHI common shares, as well as GBP303,500 in cash. The consideration shares are expected to represent approximately 9.3% of the enlarged share capital of JHI following completion of the transaction.
Following the completion of this transaction, Argos has been placed into members voluntary liquidation. Its shares, which are currently suspended, will be cancelled from admission to trading on AIM with effect from 0700 BST on September 26.
Prior to the completion of the transaction, Westmount held a total of 5.7 million shares in JHI, representing approximately 7.2% of the issued common shares in JHI as of December 31.
Westmount also held 1.0 million shares in Argos, representing approximately 0.4% of the issued common shares in Argos as of March 3.
It is anticipated that approximately 33,600 of the consideration shares will be distributed to Westmount as a result of the company's shareholding in Argos at the relevant date.
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
People now noticing Ria20 pushing this.....would love for short to see get to around 2.00 today and open 1.50-
2.3 million buys outstripping sells
People now noticing this and buys coming in strong again.....would love to see get to around 3.00 today and open 3.50+
Now....nice
Risers now.....expect we are in for a big push in the last 30 minutes
2 Million wow....buys outstripping sells
Down again!
Thanks Ria20, just opened my short 5 minutes ago. Keep it up.
Leaderboard now
Now .....watch people buying into and close and the massive influx tomorrow
Very cheap now easy multi-bagger coming great time to buy today
Flying, easily get to 10p by close as Ria20 has said.
By close today. Get in now.
On the leaderboard.....buying pressure immense
Now on the leaderboard.....can we finish top by close .....buying pressure relentless
On the leaderboard