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WMELF does not currently pay a dividend.
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Westmount Energy Limited functions as a venture capital firm, primarily furnishing early-stage capital to small and medium-sized enterprises (SMEs). Its investment strategy is concentrated within the Guyana-Suriname Basin region. The company was established on October 1, 1992, and maintains its headquarters in Saint Helier, Jersey.
Westmount Energy has noted Africa Oil and Eco (Atlantic) statements regarding the farm-in by TotalEnergies and QatarEnergy into Blocks 3B/4B in the Orange Basin, offshore South Africa. Upon completion of the transaction the participating interests in Block 3B/4B, held via their respective subsidiaries, will be as follows: TotalEnergies 33% (operator), Qatar Energy 24%; Ricocure (Proprietary) Ltd.
Exciting times lie ahead according to Westmount Energy Limited (AIM:WTE, OTCQB:WMELF) chair Gerard Walsh following news of a new discovery offshore Namibia. Westmount, a small-cap investor in the oil and gas sector, has a minority shareholding in Africa Oil which in turn has an economic interest in TotalEnergies discoveries in Block 2913B.
Westmount Energy Limited (AIM:WTE, OTCQB:WMELF) told investors that deepwater exploration ‘hotspots' offshore Guyana and Namibia are well positioned to capture increased industry spending on exploration. Investment in the oil sector's ‘upstream' segment is this year projected to reach its highest level since 2015, up to $528 billion, Westmount said highlighting estimates from the IEA.
Dual-listed oil and gas investing company Westmount Energy Limited (AIM:WTE, OTCQB:WMELF) has noted the recent update from Africa Oil Corp (TSX:AOI). (AOC) regarding ongoing exploration and appraisal activities in the Orange Basin, offshore Namibia.
Westmount Energy Limited (AIM:WTE, OTCQB:WMELF) has acknowledged the takeover of the PL001 North Fawklands licence by part-owned JHI Associates Inc from Argos Resources Ltd (LSE:ARG). Following the latter's fall into administration, JHI has taken on the 1,126 square-kilometre license, which sits immediately west of the giant Sea Lion Discovery.