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Surprised there still seems to be very little interest here.
Volumes still very low, very few posts on the various boards, and seems to be still under the radar.
Market Cap £30.6m (including the recent JHI purchase).
Drilling Tanager now.
Bulletwood in Q4 (and possibly more on Canje before year end).
Goliathburg early 2021, and several more planned for later in 2021.
The 'hottest' oil region....
"Potential for transformational transaction in future - possibly via RTO" - WTE's own words.
What's not to like?
I couldn't agree more. 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 SP would need to be between 56p and 83.1p to reflect the same valuation per BOE pre drill. Current SP 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 SP looks a steal.
Wte is a holding company, if you want to value the company all you need to do is to calculate the value out of the companies it holds.
Cataliya and rp represent the same value more or less though rp are well funded and holds more assets including the prime location block 47 and jhi should be a bit cheaper as it holds 17.5% of canje compered to 25%.
Eco is a small holding but easy to calculate.
Directlly at the moment the holdings plus cash are worth less then 20p, so its all about potential.
I run an oil&gas forum in israel and mentioned wte a few times, i was asked to make a calculation of the holdings value at the moment (before the latest jhi swapp):
??????? ?? ?????????:
Company
Quotation
Westmount Holding
Approx. Percentage of Issued Shares
Main Asset
JHI Associates Inc.
Unquoted
3,563,770
4.8%1
17.5% Canje Block
Cataleya Energy Corporation
Unquoted
567,185
5.2%2
25% Kaietur Block
Ratio Petroleum Energy LP
Quoted
1,200,000
0.7%
25% Kaietur Block
ECO Atlantic Oil and Gas Ltd.
Quoted
1,500,000
0.8%
15% Orindiuk Block
??"? ???? ???? ???????- 13 ?????? ?????.
????? 2.5 ?????? ?????.
???- 15.5 ?????? ????? ???? ????.
???? ???? - 20 ?????? ?????.
Its about 16m pound.
Non the less it offers unique exposure to some world class wells and that is worth a nice premium.
I used to think that, but that's like saying a stock is only worth its net current assets. That is not the case. ECO is not worth only 7.75p is it? It's all about potential particularly for oil explorers. That's what we need to focus on to get the appropriate valuation.
@harel - also the BoD here take ZERO salaries/fees so everything they raise is actually invested. Never seen that on AIM before, and I think it's something that we should see more of
The BoD also have significant skin in the game, holding more than 20% of the shares between them.
Their raison d'etre is to raise that share price (significantly!).
Yep. Clearly they're expecting large returns from their significant shareholdings. Two of them are were at AIM tiddler Cove Energy, John Craven as CEO and Tom O’Gorman as chairman, and Cove was bought out for £1B+ after major success offshore Mozambique. These guys know what they are doing.
If you believe the trade data on here (why not?) there have been all of 37 trades this week!
700K shares for a total of £152K....
Don't forget Gerry Walsh was at Cove too...
Well spotted WTD.
Phobeus is that you de-risking? 2 big sells this affo.
Nope. I'm staying in 100%.
seen 5 x 100k block sells in the past few days - someone losing interest or worrying the poo is droping
Probably someone derisking ahead of drill results as they always intend to. Let them go. I see no reason to do so in this case as I'm very happy with the risk reward at these levels. 4 drills in Guyana and one in Suriname over the next nine months with plenty more to follow. Biggest risk here is not having any shares IMO.
about 700,000 since 29 Sept to date
"MODU Stena Carron will move from the LIZ_4P21 to Tanager -1 Well Site, arriving on August 09, 2020. The drilling activity will conclude on October 20, 2020" (From the Notice to Mariners).
Two weeks to go if all is going to plan..... :-)
Only ~ 1.11m shares traded in the last week - £210K or thereabouts.
I said result due before end october .news could drop any day now remember 72.5 % chance of success.
the mariners notice is inaccurate, results will not be released before 90 days since spud!
i think its around 6-10/11.
i do know the drill is progressing rapidly ahead of schedule so by now they should be at the santonians layers.
"i do know the drill is progressing rapidly ahead of schedule.."
How?
cant answer that..
believe it or not..
Just incase you missed it.
https://www.kaieteurnewsonline.com/2020/10/07/hess-sells-out-lucrative-gulf-of-mexico-oilfield-for-guyana/
You make out your in the know!
But your in dogs like trp gbp bhp and other penny dreadfuls gies a break all BS.
I follow around 40 companies world wide, got a few k's at most of them just to learn and watch so when the time is right ill make my move, 80% of my investments are guyana related at the moment.
You questioned my integrity once and it didnt end up well for you..
Some learn from mistakes and some are doomed to repeat them..
Well just you watch this space chabibi.