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Cataleya just "raised" 20m$ at a mc value of 100m$.
Wte holds 4%+ that are valued by this transaction at 4m$, but wte's main value at the moment is the jhi holding that upon approval of the drilling campaign submitted by exxon should triple or more..
Wte also holds more then half a million dollars of shares in africa oil..
All it needs is a trigger to rocket..
All I know is the SP is a tenth of what I paid before all the news. Don't get it. You would have thought it would be ay north of where it is.
I’m a bit confused by this….. In 2019 Westmount announced that it entered into unconditional agreements to acquire an additional 313,500 common shares in Cateleya Energy Corporation ("CEC") at a price of USD $10 per share, for total consideration of US$3,135,000 million (equivalent to GBP £2,582,372)….
But WTE mcap today with all the various investments in many companies is still only at £2m…
So, WTE either overpaid for CEC or the rest of the portfolio is worth zilch?
Maybe someone out there can unconfuse me?
Westmount retains a holding of 474,816 common shares in CEC, representing approximately 4.13% of the enlarged issued share capital of CEC.
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 is pleased to report that its investee Cataleya Energy Corporation ("CEC") has redeemed in full USD $43,782,722 in convertible loan notes previously issued to a certain noteholder (the "Noteholder"), a large American Private Equity Fund, between April 2020 and January 2023. The loan notes have been redeemed via the repayment of USD $21,590,000 in cash and the conversion of USD $22,192,722 into 2,458,705 CEC common shares. The transaction closed on the 15th March 2024 and CEC is now debt free. As a result of this loan note conversion the Noteholder has now become a significant shareholder in CEC, with a shareholding of approximately 21.4% of the enlarged CEC share capital.
Where everyone would like to be but will this get noticed.
Was a joke, wte owns a few shares in a company that holds shares in a compsny that has 10% interest in the well.
But this rally may show us what real news will look like that may triggrr 100-200% rally and real news are immenent and its the approval of the 12 wells campaign submitted by exxon in canje block where wte holds 7% of jhi which has 17.5% interest in the block and/or a farm out deal in kaieteur where wte holds 7% in cataleya which holds 50% of the block..
Gerard Walsh, Chairman of Westmount Energy Ltd. commented:
"Today's positive update by our investee AOC confirms our view that the Orange basin is a major emerging, prolific, hydrocarbon province which offers Westmount shareholders continuing exposure to high impact exploration and appraisal drilling outcomes. We also note the commentary provided yesterday at the TotalEnergies 2023 Results and 2024 Objectives presentations2, with the operator of the giant Venus Discovery indicating that the appraisal program and development planning was now focussed on the optimisation of the location of the first Development FPSO with respect to reservoir sweet spots in terms of permeability and productivity. In addition, the operator signalled a continuing aggressive exploration and appraisal program in 2024, with a Namibian E&A budget of circa $300M, and with another potential exploration drilling target already identified to the south of Venus. So an exciting program of drilling and testing lies ahead and we look forward to further newsflow in this regard."
Surprised?
The company wte holds some shares in- africa oil, didnt rise, why would wte should rise?
Some money lost here today…..criminal
I count have timed the spike better to buy?? Unbelievable! What a chimp!
LOL short lived that wee spike.
Cold alot of good trades at 2.3 -2.45! News is good and MM short.
Weak traders selling lol
Mm’s now trying to get them shares back lol
Was investigating this company.
Wanted to buy at 1.6 but the Train just left the station! was 2 minutes to late and could not buy anymore!
Good luck to the Holders!
MM been caught out here... tiny float and big news the perfect combination.
Can buy loads now
Lovely RNS on here and GTC today... primed for a great afternoon
Says it all then!! Can anyone buy though? looks like it will hit 100% before my order lands :(
Can sell at 2.3p though :p
Were u ever in? ffs desperate. You cant buy!!
Thanks for the heads up guys. 25% profits taken and moved to #HE1
Change his tune when he gets some of these