Interim Results

Westmount Energy Limited
26 March 2007


26 March 2007

CONTACTS:

Westmount Energy Limited     Tel: [phone]
Paul Anderson, Director

Ruegg & Co Limited           Tel: [phone]
Gavin Burnell
Brett Miller


                                 PRESS RELEASE


WESTMOUNT ENERGY LIMITED
INTERIM RESULTS FOR THE SIX MONTHS
ENDED 31 DECEMBER 2006


The Board of Westmount Energy Limited ('the Company') today announces the
interim results of the Company for the six months ended 31 December 2006.


Note for Editors:

Westmount Energy Limited ('Westmount') is a Jersey based AIM quoted Energy
Investment Company. Its present investments include, 30,000,000 shares of AIM
quoted Sterling Energy plc, 5,500,000 shares of AIM quoted Desire Petroleum plc,
37,622,687 shares of AIM quoted CDS Oil & Gas Group plc and 244,000 shares of
presently unquoted Eclipse Energy UK plc. Westmount has no borrowings.


Copies of the interim results will be available from the offices of Ruegg & Co
Limited, 39 Cheval Place, London SW7 1EW for a period of one month from today's
date.


CHAIRMAN'S INTERIM REVIEW


The results for the six months ended 31 December 2006 show a loss of £91,090
versus a profit of £4,050,578 (restated following the introduction of FRS 20:
Share Based Payment), after taxation for the six months ended 31 December 2005.


Following the death of Westmount's Chairman Mr Derek G Williams on 19 January
2007, steps have been taken to review the composition of the Board, and as a
result, the Board is pleased to have recently announced the appointment of Alan
Levison as a director and as Chairman of the Board with effect from 17 March
2007.


Alan brings with him 30 years of experience in the oil and gas industry. He
holds a M.Sc. in Petroleum Geology from Imperial College London and has spent
the majority of his career in Chevron and BG in senior management roles. In
recent years Alan has served on the boards of Fusion Oil and Gas plc, Sterling
Energy plc and is currently serving on the board of Eclipse Energy UK plc, where
Westmount holds a significant equity interest.


The re-constituted Board is undertaking a detailed review of Westmount's
strategy in relation to both existing investments as well as other opportunities
which may exist or which may arise, to enhance the value per share for the
benefit of shareholders.


On 8 February 2007, Eclipse Energy UK plc ('Eclipse'), the low carbon energy
company, announced that it had been granted consent to construct and operate the
Ormonde offshore wind farm and to generate and export electricity from the
adjacent Ormonde Gas Fields development by the UK Government. This consent
completes the series of principal permissions necessary to construct the world's
first co-development of offshore gas and wind energy in the East Irish Sea.


When constructed, Ormonde is expected to be able to generate up to 200 MW of
electricity from gas turbines and a dedicated offshore wind farm of 30 turbines.
The project which anticipates the first energy to be produced in 2009, will be
able to supply the equivalent of three quarters of Cumbria's domestic local
generating demand which is enough energy to power over 155,000 homes, the
equivalent of which 71,000 would be powered by renewable energy, and which will
save up to 286,000 tons of CO2 per year. The Board believes that as the largest
equity shareholder in Eclipse, Westmount is in an excellent position to
capitalise on the potential next stages in Eclipse's development.


On 8 January 2007, the £500,000 Convertible Loan to AIM quoted CDS Oil & Gas
Group plc ('CDS'), together with accrued interest of £36,123.29, was converted
into equity and Westmount subscribed for 37,622,687 shares in CDS. Westmount now
has a 9.79% interest in the enlarged share capital of CDS.


In addition to its interests in Eclipse and CDS, Westmount holds 30,000,000
shares of AIM quoted Sterling Energy plc and 5,500,000 shares in AIM quoted
Desire Petroleum plc.


The Ordinary shares of Westmount (originally of 10p par value) commenced trading
on AIM on 2 October 1995 at 15p. Following a share capital re-organisation and
repurchase of shares by Westmount, there are now 7,425,000 20p Ordinary shares
in issue traded on AIM held by approximately 1,350 shareholders. There are also
share options outstanding over 750,000 20p Ordinary Shares exercisable at a
subscription price of 103.5p per share, over various periods, expiring 31
December 2012.



PROFIT AND LOSS ACCOUNT


                                               Restated           Restated
                             Six months to     Six months to      Year to
                             31 December 2006  31 December 2005   30 June 2006
                             (unaudited)       (unaudited)        (audited)
                                     £               £                £

Turnover - 
discontinued operations             -              1,118            1,118

Operating Costs                     -                -                -

Surplus on termination of
North Sea overriding royalty 
interest (before taxation)          -          1,706,201        1,706,201

Profit on disposal of 
investments                         -          3,189,999        3,190,096

Interest Receivable            59,581             73,277          178,238

Administration Expenses      (150,671)          (452,743)        (609,047)
                             ________           ________          ________
    
Profit/(Loss) on ordinary 
activities before taxation    (91,090)         4,517,852        4,466,606

Taxation                           -            (467,274)        (467,274)
                             ________           ________          ________

Profit/(Loss) on ordinary 
activities after taxation     (91,090)         4,050,578         3,999,332
                             ________           ________          ________

Basic Earnings/(Loss) per 
ordinary share                 (1.23)p             26.98p           53.44p


Diluted Earnings/(Loss) 
per ordinary share             (1.11)p             49.06p           48.57p


The results for both the prior period to 31 December 2005 and the year to 30
June 2006 have been restated for the application of Financial Reporting Standard
20: Share-based Payment. The 750,000 share options issued on 22 December 2005
have been ascribed a fair value of 39.07p each (total cost of £293,025). This
cost has been accounted for within Administration Expenses in prior periods and
an equal Share Option Reserve has been created in Shareholders Funds.


STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

                                               Restated         Restated
                            Six months to      Six months to    Year to
                            31 December 2006   31 December 2005 30 June 2006
                            (unaudited)        (unaudited)      (audited)
                                  £                 £               £

Profit/(Loss) retained 
for the period                 (91,090)        4,050,578         3,999,332

Cost of B share issue 
and consolidation                  -                -             (155,895)
                               ________         ________          ________
 
Total recognised gains 
and losses 
relating to the period         (91,090)        4,050,578         3,843,437
                               ________         ________          ________



BALANCE SHEET
                                                                 Restated
                                               31 December 2006  30 June 2006
                                         Note  (unaudited)       (audited)
                                                    £                £

FIXED ASSETS
Investments                                     5,418,141        4,882,017


CURRENT ASSETS
Debtors                                              -             505,549
Cash at bank                                      667,366          880,222
                                                 _________         ________
     
                                                6,085,507        6,267,788

CREDITORS
Amounts falling due within one year              (148,399)        (176,148)
                                                 _________         ________

TOTAL ASSETS LESS CREDITORS                     5,937,108        6,091,640
                                                 _________         ________

SHARE CAPITAL AND RESERVES

Share Capital                              1    1,485,000        1,496,686
Share Premium Account                      2      668,220          668,220
Share Option Account                       3      293,025          293,025
Capital Redemption Reserve                 4      150,134          150,134
Profit and Loss Account                    5    3,340,729        3,483,575
                                                _________          ________

SHAREHOLDERS' FUNDS                             5,937,108        6,091,640
___________________

Notes:
                                       £

1. Share Capital -
   Balance 01.07.2006            1,496,686
   Purchase of own shares          (11,686)
   Balance 31.12.2006            1,485,000

2. Share Premium Account -
   Balance 01.07.2006              668,220
   Balance 31.12.2006              668,220

3. Profit and Loss Account -
   Balance 01.07.2006                     -
   Prior year adjustment - issue of
   750,000 share options at 
   39p fair value                  293,025
   Adjusted balance 01.07.2006     293,025
   Balance 31.12.2006              293,025

4. Capital Redemption Reserve -
   Balance 01.07.2006              150,134
   Balance 31.12.2006              150,134

5. Profit and Loss Account -
   Balance 01.07.2006            3,776,600
   Prior year adjustment - 
   issue of 750,000 share 
   options at 39p fair value      (293,025)
   Adjusted balance 01.07.2006   3,483,575
   Loss for 6 months ended 
   31.12.2006                      (91,090)
   Purchase of own shares          (51,756)
   Balance 31.12.2006            3,340,729

CASH FLOW STATEMENT
                                Six months to    Six months to     Year to
                                31 December 2006 31 December 2005  30 June 2006
                                (unaudited)      (unaudited)       (audited)
                                      £               £                  £
Net cash inflow/(outflow) from
operating activities                327,129        (161,479)        (325,752)

Returns on investment and
servicing of finance                 59,581          73,277          178,238

Taxation paid                          -                -           (500,869)

Capital expenditure and
financial investment              (536,123)       9,528,763        9,028,860
                                   ________        ________         ________
Cash inflow/(outflow) 
before financing                  (149,413)       9,440,561        8,380,477

Financing                          (63,442)         (42,527)      (7,535,046)
                                   ________        ________         ________

Increase/(decrease) in cash       (212,855)       9,398,034          845,431
                                   ________        ________         ________

Reconciliation of cash flow to
movement in net funds/(debt)

Increase/(decrease) in cash       (212,855)       9,398,034          845,431

Loan advance                           -                -            500,000

Loan repayment                    (500,000)             -                -
                                  _________        ________           ________
 
Change in net funds/(debt) 
resulting from cash flows         (712,855)       9,398,034         1,345,431

Net funds brought forward        1,380,222           34,791            34,791
                                  _________        ________           ________

Net funds carried forward          667,367        9,432,825         1,380,222
                                  _________        ________           ________

Represented by:
Debtors                               -                 -             500,000

Cash at bank                       667,367        9,432,825           880,222
                                  _________        ________           ________

Net funds carried forward          667,367        9,432,825         1,380,222
                                  _________        ________           ________






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