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NEUTRAL

Westmount Energy Provides Investment Portfolio Update

Why we think this is neutral

This RNS announcement from Westmount Energy Limited does not contain any major news regarding the company's financial performance, operations, or strategic developments. It is an update on the company's investment portfolio, which does not directly impact the company's core business. As such, the overall sentiment is neutral.

Key Points

  • Westmount has received £286,155 from the sale of its entire holding in Meren Energy Inc.
  • Westmount continues to hold interests in exploration companies with licences in the Guyana-Suriname Basin
  • Westmount holds a 100% working interest in the North Falklands Basin Production Licence PL001 through JHI Associates

Summary

The investing company provides an update on its investment portfolio, including the sale of shares in Meren Energy Inc. and its holdings in other exploration companies.

Westmount Energy Limited (UK AIM: WTE.L), the AIM-quoted oil and gas investing company, has provided an update on its investment portfolio. The company has received proceeds of circa £286,000 from the sale of 300,000 common shares in Meren Energy Inc. (formerly Africa Oil Corp.). Westmount continues to hold interests in JHI Associates Inc., Cataleya Energy Corp., and Eco Atlantic Oil and Gas Ltd., which have direct working interests in exploration licences in the Guyana-Suriname Basin. The company also holds a 100% working interest in the North Falklands Basin Production Licence PL001 through JHI Associates.

GENERAL UPDATE