Member Info for whackford

I should have said BS date of 31/12/2025 of course.

WTE has a 4.13% stake in this private company , value according to balance sheet at 31/12/2026 of £1.378m. The only asset Cataleya has is a 50% holding in Kaietur block in Guyana. Catalaya website is being updated (has been for many months and gives little info).

Does anybody know what is going on at Kaietur? It is a significant part of WTE's portfolio so it would be nice to know..

As aside, I notice Mr. Evans has made a further acquisition in WTE.

You beat me to it Notrac. We must keep an eye on Mr. Evans.

Present management behaving as indecently as Poddar & daughter

Looks like Mr. Evans definitely knows more than I do. He now holds 7.69%

Taking the values of Cataleya and Ratio as stated in accounts at 31 Dec 2025 plus adding in the cash plus adding in the value of prospective total number of Eco shares at 50p, I get a value of 3.03p per WTE share. Eco accounts for 63% of the value. The big doubt is Cataleya since Ratio worth only £5k. Might as well hang on for the Eco shares.

Does Mr. Evans know more than me?

Cataleya is a mystery - is it worth anything? The investment in Ratio is trivial.

It looks as though most of the value resides in the present and future (post JHI acquisition by Eco) holding in Eco. Therefore is there any point in WTE carrying on as a standalone? I would have thought the most sensible thing was to wind up and distribute Eco shares to WTE shareholders.

No RNS which is unusual for WTE. I suspect something is going on in the background. At face value JHI sold out cheaply so not good for WTE. I wonder if Eco will now bid for WTE (which is now all Eco apart from Cataleya and a small amount of cash). I suspect terms are being talked over. and we shall hear something next week.

WTE will amount to mainly ECO shares, plus a bit of cash, plus the stake in mysterious Cataleya which in turn has a 50% stake in Kaietur block which is undergoing drilling. Maybe WTE will just merge into Eco.

Yes, Eco just done deal to buy JHI. See Eco RNS

Just announced by Eco. Maybe another partner in North Basin to follow?

Just announced by Eco Atlantic.

Norseman - yes regrettable RKH left out. But Westmount very much in due to 6.24% stake in JHI - hence WTE rise today.

All looks good for opening the whole basin ASAP.

Applicable - thanks for the link to the letter.

Can someone please give me a link to this letter to shareholders. I cannot see it on website. Thanks.

WTE has interests in 4 companies, one being JHI Associates which holds 100% of PL001.

However, now FID at sea Lion we expect 2C NPV10 of £3956£m for Navitas and RKH combined (RKH presentation July 2025).

Take 5% of that, £200m, which may eventually be value of PL001 (many prospects identified).

WTE's share of this postulated £200m is 6.24 % which is 8.7p per share. So plenty of gas in the tank at WTE especially when adding in the other hotspot licences.

If you say PL001 could be worth £200m , post Sea Lion FID and based on the seismic and declared prospects, WTE share (6.24%) is worth about 8.7p/share.

As regards the rest of the portfolio it's difficult to judge, especially Cataleya which is private.

The value component arising from Eco Atlantic can be accurately measured since this quoted on LSE and important recent developments there. But share of Eco held by WTE not huge.

The key WTE elements are JHI and Catalaya but both at the present are private so tricky to get a handle.

Full details on LSE.

04 December 2025

ECO (ATLANTIC) OIL & GAS LTD.

("Eco" "Eco Atlantic" or the "Company")

Strategic Partnership with Navitas Petroleum

Eco Atlantic enters Framework and Option Agreements with Navitas Petroleum for Orinduik Block offshore Guyana and Block 1 CBK offshore South Africa as well as future oil and gas cooperation

Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG) (Toronto, Canada), the oil and gas exploration company focused on the offshore Atlantic Margins, announces the Company has entered into a binding Framework Agreement, the Orinduik Option and the Block 1 CBK Option with Navitas Petroleum LP ("Navitas"), an international oil and gas exploration and production partnership with a portfolio of established North American and Falkland Islands oil and gas assets (the "Strategic Partnership").

Thanks Harel. I could not read the announcement since irritatingly in Hebrew only.

To lose the licence would be a serious matter for Westmount. According to my calcs, WTE have 2% of Kaieteur via Cataleya and .02% via Ratio. Ratio can be ignored when looking at WTE, a negligible holding. However, the ONLY thing Cataleya has is the stake in Kaieteur, so without Kaiteur Cataleya amounts to nothing.

Also out yesterday was the ECO half year report.

Poster 36800 sets the scene correctly in Westmount's ARA. A truly encyclopedic record of events by Gerard Walsh.

It seems to me there's a good deal of uncertainty about future drilling but Ranger ongoing.

WTE have promoted PL001 to possibly the main asset.