Director Shareholding

Westmount Energy Limited
15 January 2004



WESTMOUNT ENERGY LIMITED
15 January 2004

                            Westmount Energy Limited

                           Exercise of Share Options


Westmount Energy Limited ('Westmount' or 'the Company') announces that options
over a total of 625,000 10p shares in Westmount have been exercised at a price
of 33.5p per share as follows: by Peter J. Richardson and Marc S.D. Yates,
executive directors of the Company as to 225,000 shares each and by a company in
which Derek G. Williams, Chairman of the Company, has a potential interest as to
175,000 shares.


As provided in the Chairman's Review to shareholders contained in the Annual
Report and Financial Statements dated 1 December 2003, in order to satisfy
certain costs and expenses incurred by the Company in connection with the sale
of its wholly owned subsidiary, Westmount Resources Limited to Sterling Energy
plc on 19 September 2003, a total of 561,831 new shares of 10p each in Westmount
(including 311,833 shares to directors of the Company) have been issued at a
price of 48p per share (being the middle market price of a share of the Company
on 29 December 2003).


Application has been made to the Stock Exchange for quotation of the above new
1,186,831 shares on the AIM market.


Following these transactions the number of 10p shares of Westmount in issue
total 14,888,361.


The directors of Westmount have the following interests in the ordinary share
capital of the Company:


                                                     Beneficial and
                                                     non-beneficial

Derek Williams
Previously announced                                      1,585,000
Option exercise                                             175,000
New shares                                                  251,879
Current interest                                          2,011,879     (13.51%)

Peter Richardson
Previously announced                                         25,000
Option exercise                                             225,000
New shares                                                   29,977
Current interest                                            279,977      (1.88%)

Marc Yates
Previously announced                                         25,000
Option exercise                                             225,000
New shares                                                   29,977
Current interest                                            279,977      (1.88%)



Contacts:


Westmount Energy Limited                                    Tel: [phone]
Derek G. Williams


Oriel Securities Limited                                    Tel: [phone]
Andrew Edwards
Scott Richardson Brown




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