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Started: MSA, 19 Mar 2024 09:53
Last post: harel, 19 Mar 2024 12:07
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.
Started: Markeurasia, 19 Mar 2024 07:27
Last post: Markeurasia, 19 Mar 2024 07:27
Where everyone would like to be but will this get noticed.
Started: harel, 9 Feb 2024 13:12
Last post: harel, 9 Feb 2024 13:12
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!
Started: brimsness, 8 Feb 2024 14:40
Last post: predator7, 8 Feb 2024 14:56
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!
Last post: Gordonbennett1, 8 Feb 2024 14:40
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
Started: InvestorACE, 8 Feb 2024 14:23
Last post: Gordonbennett1, 8 Feb 2024 14:29
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
Started: petroinvestor, 8 Feb 2024 14:20
Last post: Markeurasia, 8 Feb 2024 14:22
Change his tune when he gets some of these
Eveloping a deepwater oil field is very expensive, and there's a risk that costs could overrun estimates.
Started: petroinvestor, 8 Feb 2024 14:16
Last post: Alans55, 8 Feb 2024 14:20
Your negativity is so boring. Do you purposely look for shares to annoy people. Let me think where your rubbish hasn't worked over the last week let alone months and years.
I expect traders will be selling very soon for a small profit. Newbies left holding the baby here
Started: MrJonesSmith, 8 Feb 2024 14:14
Last post: MrJonesSmith, 8 Feb 2024 14:14
RNS recently release , oil fund
It needs to be. I previously paid 15p
This is massive,
Started: harel, 13 Dec 2023 09:10
Last post: harel, 30 Dec 2023 20:08
You are the one that kept braging how you increase your position from 12p to 6-8p until you cant buy no more without being an insider... Lol
Uk warship nervous?
Harel you not bankrupt yet?
As quiet as things around here, in the back stage things are brewing..
A 12 wells campaign on canje (or more likely three and then results dependant) is a BIG deal!!!
Jhi and mid atlantic must prepare themselves for funding.
My GUESS and i have no inside information, is a triple RTO.
Once the permit is recieved and the timeline is out i think the most logical thing to do is consolidate and go public.
I believe mid atlantic and jhi will merge and on an optimistic scenario rto with wte to raise the funds for the campaign.
Jmho
Gla
Started: Dogberry, 10 Nov 2023 08:32
Last post: harel, 8 Dec 2023 16:38
I also think mid-year is a good guess, my guess is that the permit for the 12 wells should be recieved in the next few weeks and only then we might get more information in regard to the time table.
such news can rocket the sp..
jmho
I'd be surprised if drilling on Canje does not begin by the end of the second quarter next year. WTE's directors think this is a possiblity and the window for drilling ends in 2027. Ratio Petroleum are in talks with oil companies over drilling the Kaietaur block. Results due soon from Nigeria. It seems all to play for. Just as before, patience required.
Started: Dogberry, 22 Nov 2023 16:18
Last post: Dogberry, 22 Nov 2023 16:18
Speculators do not like static situations but investors do, especially where outstanding value through optionality can be had. Happy to hold! May buy more.
There's likely a little more to Exxon and Hess pulling out of Kaieteur than one might think and it does not necessarily have much to do with prospectivity in finding oil. The likelihood of (more) oil being found on this block is high. As Hamlet says: "There are more things in heaven and earth, Horatio, than are dreamt of in your philosophy".
Started: Dogberry, 26 Sep 2023 23:26
Last post: Dogberry, 27 Sep 2023 19:50
"Majors".
There's possibly also an insurance issue in case of a spillage for Exxon. They never did want to cover the fufll amount.
Things are moving, one way or another.
Yes, but there is another way of reading this: Exxon intend going ahead with their drilling campaign in the Canje Block. Ratio Guyana are alreading in talks with other majjors over Kaieteur. Who knows khow the latter will work out.
Ouch. A late afternoon RNS that nobody wanted...
In the recent presentation management said that they expected news in early October on drilling plans for Canje or Kaieteur by earlyish October. Whether this comes to pass within this time-frame given we will know soon enough. Meanwhile the hot money poster seems to have moved on and found other companies to speculate on. I think that this poster and whoever they are linked with seems to have put WTE back into play. It has broken out. I'm glad that they have moved on but they would appear to have done holders a service!
Some time in October the full year report will drop. If anything has happened then it will be articulated there.
Started: Erebus55, 26 Sep 2023 09:13
Last post: Erebus55, 26 Sep 2023 09:13
Sub 2p coming.
Started: ria20, 25 Sep 2023 16:25
Last post: Bloomy1976, 25 Sep 2023 21:12
So let me get this straight you have this doing 60 plus % tomorrow ?
Ria I agree 4p tomorrow incoming. While we make money the doom mongers can cry in their cornflakes! Roll on 8am in the morning!
Phoebus what a depressing post. Whatever you do don't join the Samaritans. In fact looks like you need them. Want the number?
If a few punters jump into a highly illiquid stock like WTE on some random RNS the SP will react, even if the news is a complete non story. Today's RNS is of very little importance to Westmount. Not only was this transaction announced to the market many months ago, WTE's stake in ARG was worth a pitiful £3,500 on delisting the other week. WTE still has limited exposure to ARG's falklands licence through its take in JHI, but the licence is very early stage with ARG having never even drilled it.
All the value drivers for WTE will come from elsewhere. The Orinduik and Venus licences are of limited impact for WTE given its limited exposure to them. Gearing to Kaieteur drilling is better, but it will take a drilling announcement for the Canje block for WTE to see any real traction, and that appears to still be some way off.
Great news isn't it
Started: ria20, 25 Sep 2023 16:03
Last post: molokai, 25 Sep 2023 16:50
Oh jeez...I just double checked, my average isnt 6p its 140,000 @ 10.40p!.. I'm in for a long long ride with this one..... and I want to get off- its not fun!
Hopefully we are in for a run of news because my previous post on here prior to today was in February and we were at 2.55p then.....
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
People now noticing Ria20 pushing this.....would love for short to see get to around 2.00 today and open 1.50-
Started: ria20, 25 Sep 2023 16:31
Last post: ria20, 25 Sep 2023 16:31
Enjoy your evening have a few beers and glasses of vino.....Great day and expect a better one tomorrow
Started: Bloomy1976, 25 Sep 2023 16:26
Last post: Bloomy1976, 25 Sep 2023 16:26
Shut the fu ck up for god sake
Started: ria20, 25 Sep 2023 16:23
Last post: ria20, 25 Sep 2023 16:23
Tomorrow too....great time to be in here
Started: ria20, 25 Sep 2023 16:08
Last post: ria20, 25 Sep 2023 16:16
(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.
Now....nice
Started: ria20, 25 Sep 2023 14:58
Last post: ria20, 25 Sep 2023 16:15
2.3 million buys outstripping sells
2 Million wow....buys outstripping sells
1.5 million.....news still getting expect we are going to have a monster rise in the last hour
1.2 million ....mms going to let go for sure
10 times more than daily average ...mms going to let go any minute