WESTMOUNT ENERGY LIMITED 
By Westmount Energy Limited ("Westmount" or the "Company") Interim Results
The Company is pleased to announce its Interim Results for the period ended 31 December 2012. A copy ofthe results is available on the Company's website, www.westmountenergy.com, and will be posted to shareholders.
CHAIRMAN'S REVIEW
Over the past six months your board have been actively engaged in negotiations and discussions with various potentia1 investors and companies who were either interested in injecting new capitai or merging their companies with Westmount with a view to creating increased shareholder value. The process is ongoing.
This process has confirmed your board's view that the Company remains an attractive investment vehicle notwithstanding its relatively small capitalization. It has no permanent overhead commitments such as staff or office space and the operating costs are tight1y controlled.
In an effort to preserve our capitai base, Gerry Walsh and Tom O'Gorman who joined the board in November 2011 have waived their Directors' fees from l January 2013 and Peter Richardson and I have reduced our fees by fifty per cent from the same date. This has the effect ofreducing the Company's overhead by some f87,500 per annum.
Investments.
There has been no substantial movement in the investment pmtfolio since l July 2012, except fora reduction of our holding ofFalkland Oil & Gas fora profit of f69,000.
Our investments are ali reasonable liquid and thus when a suitable opportunity arises we see no difficulty in realising them.
Future Strategy.
Your board is very conscious of the need to create real value for our shareholders and we are renewing our efforts in
2013 to achieve this result. The core value of your Company remains very attractive and your Directors are clearly mindful oftheir responsibility to see that this is achieved.
Mervyn Bradlow
Chairman
Date: 20 March 2013
WESTMOUNT ENERGY LIMITED
CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2012 (Expressed in United Kingdom Sterling)
Six months ended | Six months ended | Year ended |
31 Dee 2012 (unaudited) | 31 Dee 2011 (unaudited) | 30 June 2012 (audited) |
f | f | f |
Realised gain/(loss) on disposal of investments | 69,043 | (962,744) | (1,371,884) |
Unrealised (loss)/gain on fmancial assets at fair value through profit or loss | (328,260) | 911,864 | 1,513,407 |
Administration expenses | (120,157) | (359,020) | (480,914) |
Operating Ioss Interest receivàble | (379,374) | (409,900) | (339,391) | ||
Operating Ioss Interest receivàble | 42 | 205 | |||
Loss before tax Taxation | (379,374) | (409,858) | (339,186) | ||
Comprehensive Ioss for the period | (379,374) | (409,858) | (339,186) |
Basic loss per share (pence) (3.86) (5.19) (3.85) Diluted loss per share (penee)
The Company had no items of other comprehensive income during the period.
AS AT 31 DECEMBER2012 (Expressed in United Kingdom Sterling)
ASSETS Non current assetsSix months Sixmonths
ended ended Year ended
31 Dec2012 31 Dee 2011 30 June 2012 (unaudited) (unaudited) (audited) f f f
Financial assets at fair value through profit and loss 1,045,072 891,301 1,464,718
Current assets
Trade receivables 4,892 4,816 7,430
Cash and cash equivalents 300,529 787,281 251,471
305,421 792,097 258,901
Trade and other payables 84,315 118,730 98,067
EQUITYShare Capitai | 1,966,060 | 1,946,060 | 1,946,060 |
Share Premium Account | 497,737 | 248,524 | 480,295 |
Share Option Account | 287,793 | 550,071 | 305,235 |
Profit and Loss Account | (l ,485,412) | (1,179,987) | (1,106,038) |
WESTMOUNT ENERGY LIMITED
CONDENSED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2012 (Expressed in United Kingdom Sterling)
Six months Six months ended ended
31 Dee 2012 31 Dee 2011 (unaudited) (unaudited)
Notes :E :E
Year ended
30 June 2012 (audited)
:E
Net cash outflows from operating activities
Purchase of investments Sale of investments Interest received
Net cash generated/(used) from investing activities
Ordinmy shares issued
Expired redemption of B shares not taken up
Net cash generated in financing activities
(131,371) (300,314)
160,429 356,034
42
160,429 356,076
20,000 440,000
20,000 440,000
(484,227)
(623,973)
598,993
205 (24,775)
440,000
28,954
468,954
Net increase/(decrease) in cash and cash equivalents | 49,058 | 495,762 | (40,048) | ||
Cash and cash equivalents at the beginning of the period | 251,471 | 291,519 | 291,519 | ||
Cash and cash equivalents at the end of the period | 300,529 | 787,281 | 251,471 |
Reconciliation ofnet cash flow from operating activities
Six months Six months
ended ended Year ended
31 Dec2012 31 Dee 2011 30 June 2012 (unaudited) (unaudited) (audited)
Total comprehensive loss for the period (379,374) (409,858) (339,186) Adjustment for interest income (42) (205) Adjustment for net loss/(gain) on investments at fair value through profit or
Ioss 328,260 (911,864) (1,513,407)
Adjustment for costs attributable to share options 215,866 177,124
Adjustments for realised (loss)/gain on investments at fair value through
profit or Ioss (69,043) 962,744 1,371,884
Decrease/(increase) in prepayments and accrued income 2,538 2,412 (202) Decrease in creditors and accrued expenses (13,752) (159,572) (180,2352
Net cash outflow from operating activities (131,371) (300,314) (484,227)
WESTMOUNT ENERGY LIMITED
NOTES TO THE UNAUDITED INTERIM RESULTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2012
2 Investments
Six months Six months
end ed ended Year ended
31 Dee 2012 31 Dee 2011 30 June 2012 (unaudited) (unaudited) (audited) f f f
Desire PLC, at market value 375,000 430,000 435,000
Cost, 2 million shares 874,643 874,643 874,643 (31 Deeember 2011: 2 million, 30 June 2012: 2 million shares)
Sterling Energy, at market value 193,125 340,001 175,000
Cost, 0.5 million shares 863,064 1,467,208 863,064 (31 Dee 2011: 0.85 million, 30 June 2012: 0.5 million shares)
Argos Resourees Limited, at market value 247,500 121,300 153,800
Cost, l million shares 310,775 310,775 310,775 (31 Dee 2011: l million, 30 June 2012: l million shares)
Falkland Oil & Gas pie ("Falkland"), at market value 57,000 348,000
Cost, 0.2 million shares 91,386 182,772 (31 Dee 2011: nil shares, 30 June 2012: 0.4 million shares)
Paneontinental Oil & Gas NL ("Paneontinental"), at market value 172,447 352,918
Cost, 3 million shares 393,246 393,246 (31 Dee 2011: nil shares, 30 June 2012: 3 million shares)
Total market value 1,045,072 891,301 1,464,718
Total eost 2,533,114 2,652,626 2,624,500
Cunent period movement (1,488,042) (1,761,325) (1,159,782) Reverse prior year FV adjustment 1,159,782 2,673,189 2,673,189
Cunent period ineome statement impaet (328,260) 911,864 1,513,407
Enquiries:
David King
Westmount Energy Limited Tel: 01534 835660
Adrian Hargrave
Cenkos Securities Pie Tel: 0207 397 8922
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