Replies to post #686 on Westmont Resources Inc. (fka WMNS)

[ohundred]

Hey guys....So lets talk about this.
I'm just wondering by looking at this press release, where and for how much did they acquire these wells that they estimate are worth 200mil. Below in the PR he also says it complements exising assets that they own, but if you look on the 10q's they have owned these other assets forever and there has been nothing at all too show for it.

They have 1.9mil SO because the of the 1-50 reverse stock split, and it appears the management is new, maybe these new guys know what they are doing. From the PR front this looks very playable, but still there is a lot of questions.

I not to long ago played MILL.ob which had a similar situation and the stock did great. But they specifially said that we we're fortunate to acquire these new wells and land that they purchased at auction for this amount of money (example 2mil) that we estimate are worth Example(200mil) this number which was huge, and they also had a low SO and new management, and the stock steadily climbed and climbed so I'm hoping it's the same situation here.

PR
Announced that they have completed an agreement that will extend Westmont's reach and resources with the acquisition of 92 wells in the Chattanooga Shale region in the northern tier of Tennessee from Domestic Energy Corporation.

Preliminary estimates indicate that the value of the reserves for these latest 92 wells could amount to nearly $200 million. This is based on the company's review of other assessments and production in the immediate area.



"This is a strategic step and a natural extension into the Chattanooga," said Glenn McQuiston, Westmont's President. "We have considered extending our Marcellus natural resources operations into the Chattanooga region for some time and this acquisition provides a significant beachhead for growth in the region and complements our existing strengths in both West Virginia and Pennsylvania. It's the right time because recent advances in seismic technology and continued enhancements in facilities design have reduced the risks in one of the world's oldest basins which is now showing significant renewed potential."