Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from Westmount Energy ( (GB:WTE) ).
Westmount Energy reported that its investee company JHI Associates has signed a non-binding memorandum of understanding with Navitas Petroleum for a farm-in to the PL001 North Falklands Basin licence, under which Navitas will acquire a 65% working interest and operatorship of the block. PL001, which lies adjacent to Navitas’s recently sanctioned Sea Lion development and is fully covered by 3D seismic, is considered to hold substantial exploration potential with JHI estimating multi-billion-barrel prospective recoverable resources, including two high-graded prospects in the same stratigraphic interval as Sea Lion; Westmount’s chairman highlighted that combining PL001 with the Sea Lion operator could unlock operational synergies in subsurface work, rig use and production facilities, potentially enhancing value for stakeholders if exploration proves successful.
Spark’s Take on GB:WTE Stock
According to Spark, TipRanks’ AI Analyst, GB:WTE is a Underperform.
Westmount Energy’s overall stock score is low due to significant financial challenges, including negative revenue and profitability. The bearish technical indicators further contribute to the low score. Valuation concerns are heightened by a negative P/E ratio and lack of dividends. The absence of earnings call data and corporate events means these components do not influence the score.
To see Spark’s full report on GB:WTE stock, click here.
More about Westmount Energy
Westmount Energy Limited is an AIM-quoted oil and gas investing company focused on high-impact drilling outcomes in emerging basins, with portfolio exposure that includes a minority shareholding in private explorer JHI Associates Inc., which targets oil exploration opportunities in the Guyana-Suriname and North Falklands basins.
Average Trading Volume: 1,027,439
Technical Sentiment Signal: Buy
Current Market Cap: £10.08M
See more data about WTE stock on TipRanks’ Stock Analysis page.