Westmount Energy Limited

Westmount Energy notes major Orange Basin developments

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.

Westmount Energy cheers new discovery offshore Namibia

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 says Guyana and Namibia are well positioned for rising industry investment

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.

Westmount Energy investee notes significant progress in Venus light oil discovery

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 portfolio company acquires licence

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.

Oil and gas highlights: Westmount Energy, Arrow Exploration, IOG, Zephry and more

Westmount Energy buys into pipeline of catalysts at it takes shareholding in Africa Oil

London-listed small-cap oil and gas investor Westmount Energy Limited (AIM:WTE, OTCQB:WMELF) has taken a shareholding in Canada's Africa Oil Corp (TSX:AOI), purchasing 300,000 shares in the open market. The transactions have an aggregate cost of £538,633, paid from Westmount's existing cash resources, and give it a 0.065% of the successful and well-regarded E&P company.

Westmount Energy well capitalised, eyes Guyana drill decisions

Westmount Energy Limited (AIM:WTE, OTCQB:WMELF) has told investors, in its interim results statement that it is well capitalised with a minimal cost base and investment exposure to the next round of high impact drilling opportunities offshore Guyana. It highlighted that Guyana economic transformation, driven by investments by international oil companies such as Exxon, has continued apace and it is now a significant oil producing nation.