Westmount Energy made a pre-tax profit of £2.01m in the year to June 2019 thanks to strong performances from Eco (Atlantic) Oil and Gas Ltd and Ratio Petroleum.
The focus is investments in the Guyana-Suriname basin. Westmount has investments that will benefit from drilling in the region by ExxonMobil.
The NAV was £5.93m at the end of June 2019, but since then £5.57m has been raised at 13p a share. Also, convertible loan interest has been paid in shares. A further 313,500 shares have been acquired in Cataleya Energy Corp for £2.46m.
At 17p a share, Westmount is valued at £18.7m.
© 2020 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.