Westmount Engy. Regulatory News (WTE)

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

Interim Results

The Company is pleased to announce its Interim Results for the six months ended 31 December 2017. A copy of the results is available on the Company's website, www.westmountenergy.com, and will be posted to shareholders shortly.

CHAIRMAN'S REVIEW

2017 Highlights

· Continued Focus on Guyana-Suriname Basin

· Operating Profit of £197,645 for the 6 month period to December 31, 2017

· Strategic Investment in Eco (Atlantic) Oil and Gas Limited to gain exposure to the Guyana offshore shows strong performance

· Evaluation of Exploration & Production opportunities with potential for a substantial transaction continue

The second half of 2017 was characterised by a continuing improvement in oil prices and investor sentiment towards the sector. In addition, offshore Guyana is proving to be a major exploration hotspot with a string of significant oil discoveries announced by ExxonMobil throughout 2017 and into early 2018 and the announcement by Total of a multi-block farm-in on the 5th February 2018, subject to approval by the relevant authorities. These elements have contributed to rising asset prices and this improvement is reflected in your Company's financial performance with a net operating profit of £197,645 for the six months to 31 December 2017.

The net operating profit results in the main from the share price performance of your Company's strategic investment in Eco (Atlantic) Oil & Gas ('EOG'). As at 20 March 2018, the EOG investment has more than doubled in value since our investment in February 2017 and continues to provide Westmount shareholders with exposure to Guyanese offshore exploration activity. EOG has recently been recognised as a 2018 TSX Venture 50™ company - an annual ranking of top-performing companies on the TSX Venture Exchange (the 'TSX-V') over the last year- achieving a 'top 10' status in the oil and gas sector, one of the five main sectors on the TSX-V. This accolade reflects, inter alia, two achievements, namely the announcement of the Orinduik Farm-in option agreement with Total E&P Activités Pétrolières, ("Total") on 26th September 2017, which grants Total the option to acquire a 25% working interest in the Orinduik Block; and secondly, the Strategic Alliance and Share Subscription Agreement with Africa Oil Corporation, announced on 13th November 2017, which raised gross proceeds of CAD$14 million.

In addition to the general improvement in the London listed Oil & Gas sector, the ExxonMobil led exploration programme on the Stabroek Block, offshore Guyana, continues to deliver excellent results. On the 28th February 2018 ExxonMobil announced a further oil discovery, Pacora-1, the 7th major oil discovery on the block since May 2015 - adding to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep, Turbot and Ranger, which are estimated to contain more than 3.2 billion recoverable oil-equivalent barrels.

Continued success on the Stabroek Block is likely to increase the industry's interest in the Guyanese offshore sector and should continue to support investor interest in EOG and other quoted companies offering investment exposure to this world class deep-water play.

Outlook

Your Company's focus continues to be to seek exposure to exploration opportunities in the Guyana-Suriname basin. Although competition has increased in this space, we believe that significant opportunities remain with the Westmount platform presenting an opportunity to create a London listed and financed vehicle with exploration exposure to the Guyana offshore play.

While Guyana is a primary focus, we continue to evaluate other investment and potential transaction opportunities. We will update investors on any significant developments at the earliest opportunity.

GERARD WALSH

Chairman

20 March 2018

For further information, please contact:

Westmount Energy Limited www.westmountenergy.com

David King, Director Tel: +44 (0) 1534 823133

Jane Vlahopoulou

Cenkos Securities plc (Nomad and Broker)

Nicholas Wells Tel: +44 (0) 20 7397 8900

Elizabeth Bowman

CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 DECEMBER 2017

All results are derived from continuing operations.

The Company had no items of other comprehensive income during the period / year.

CONDENSED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

CONDENSED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2017

CONDENSED STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 31 DECEMBER 2017

NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2017

1. Accounting Policies

Basis of accounting

The interim financial statements have been prepared in accordance with the International Accounting Standard ("IAS") 34, Interim Financial Reporting.

The interim financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Company's annual financial statements for the period to 30 June 2017. The annual financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS").

The same accounting policies and methods of computation are followed in the interim financial statements as in the annual financial statements for the period ended 30 June 2017.

2. Investments