REG - Westmount Energy Ld - Final Results <Origin Href="QuoteRef">WNRG.L</Origin> - Part 7

Westmount EnergyAnnouncement

25/11/2016 15:15

- Part 7: For the preceding part double click  ID:nRSY2182Qf 

                                                                                                                                                        
 fair value                                                                                                                                                                                                                                                              
 through                                                                                                                                                                                                                                                                
 profit or                                                                                                                                                                                                                                                              
 loss. The                                                                                                                                                                                                                                                              
 Company's                                                                                                                                                                                                                                                              
 financial                                                                                                                                                                                                                                                              
 assets at                                                                                                                                                                                                                                                              
 fair value                                                                                                                                                                                                                                                              
 through                                                                                                                                                                                                                                                                
 profit or                                                                                                                                                                                                                                                              
 loss are                                                                                                                                                                                                                                                               
 publicly                                                                                                                                                                                                                                                               
 traded and                                                                                                                                                                                                                                                              
 are deemed                                                                                                                                                                                                                                                              
 highly                                                                                                                                                                                                                                                                 
 liquid.                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                        
 The                                                                                                                                                                                                                                                                    
 following                                                                                                                                                                                                                                                              
 table                                                                                                                                                                                                                                                                  
 details                                                                                                                                                                                                                                                                
 the                                                                                                                                                                                                                                                                    
 contractua                                                                                                                                                                                                                                                              
 l,                                                                                                                                                                                                                                                                     
 undiscount                                                                                                                                                                                                                                                              
 ed cash                                                                                                                                                                                                                                                                
 flows of                                                                                                                                                                                                                                                               
 the                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 financial                                                                                                                                                                                                                                                              
 liabilitie                                                                                                                                                                                                                                                              
 s:                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                        
 As at 30                                                                                                                                                                                                                                                               
 June 2016                                                                                                                                                                                                                                                              
           Up to 3 months                                                                                                                                                                                                                                               Up to1 year   Over 1 year  Total £           
 Financial                                                                                                                                                                                                                                                                                                           
 liabilitie                                                                                                                                                                                                                                                                                                           
 s                                                                                                                                                                                                                                                                                                                   
 Accrued   31,387                                                                                                                                                                                                                                                       -             -            31,387            
 expenses                                                                                                                                                                                                                                                                                                            
           31,387                                                                                                                                                                                                                                                       -             -            31,387            
                                                                                                                                                                                                                                                                                                                     
 As at 30                                                                                                                                                                                                                                                               
 June 2015                                                                                                                                                                                                                                                              
           Up to 3 Months                                                                                                                                                                                                                                               Up to 1 year  Over 1 year  Total £           
 Financial                                                                                                                                                                                                                                                                                                           
 liabilitie                                                                                                                                                                                                                                                                                                           
 s                                                                                                                                                                                                                                                                                                                   
 Accrued   31,760                                                                                                                                                                                                                                                       -             -            31,760            
 expenses                                                                                                                                                                                                                                                                                                            
           31,760                                                                                                                                                                                                                                                       -             -            31,760            
                                                                                                                                                                                                                                                                                                                     
 Capital                                                                                                                                                                                                                                                                
 Management                                                                                                                                                                                                                                                              
 The                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 objective                                                                                                                                                                                                                                                              
 when                                                                                                                                                                                                                                                                   
 managing                                                                                                                                                                                                                                                               
 capital is                                                                                                                                                                                                                                                              
 to                                                                                                                                                                                                                                                                     
 safeguard                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 ability to                                                                                                                                                                                                                                                              
 continue                                                                                                                                                                                                                                                               
 as a going                                                                                                                                                                                                                                                              
 concern in                                                                                                                                                                                                                                                              
 order to                                                                                                                                                                                                                                                               
 provide                                                                                                                                                                                                                                                                
 optimum                                                                                                                                                                                                                                                                
 returns                                                                                                                                                                                                                                                                
 for                                                                                                                                                                                                                                                                    
 shareholde                                                                                                                                                                                                                                                              
 rs and                                                                                                                                                                                                                                                                 
 benefits                                                                                                                                                                                                                                                               
 for other                                                                                                                                                                                                                                                              
 stakeholde                                                                                                                                                                                                                                                              
 rs and to                                                                                                                                                                                                                                                              
 maintain                                                                                                                                                                                                                                                               
 an optimal                                                                                                                                                                                                                                                              
 capital                                                                                                                                                                                                                                                                
 structure                                                                                                                                                                                                                                                              
 to reduce                                                                                                                                                                                                                                                              
 cost of                                                                                                                                                                                                                                                                
 capital.                                                                                                                                                                                                                                                               
 In order                                                                                                                                                                                                                                                               
 to                                                                                                                                                                                                                                                                     
 maintain                                                                                                                                                                                                                                                               
 or adjust                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 capital                                                                                                                                                                                                                                                                
 structure,                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 may issue                                                                                                                                                                                                                                                              
 new                                                                                                                                                                                                                                                                    
 shares,                                                                                                                                                                                                                                                                
 return                                                                                                                                                                                                                                                                 
 capital to                                                                                                                                                                                                                                                              
 shareholde                                                                                                                                                                                                                                                              
 rs or sell                                                                                                                                                                                                                                                              
 assets.                                                                                                                                                                                                                                                                
 The                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 does not                                                                                                                                                                                                                                                               
 have any                                                                                                                                                                                                                                                               
 debt nor                                                                                                                                                                                                                                                               
 is the                                                                                                                                                                                                                                                                 
 Company                                                                                                                                                                                                                                                                
 subject to                                                                                                                                                                                                                                                              
 any                                                                                                                                                                                                                                                                    
 external                                                                                                                                                                                                                                                               
 capital                                                                                                                                                                                                                                                                
 requiremen                                                                                                                                                                                                                                                              
 ts.                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                            
 Fair Value                                                                                                                                                                                                                                                              
 Estimation                                                                                                                                                                                                                                                              
 The                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 has                                                                                                                                                                                                                                                                    
 classified                                                                                                                                                                                                                                                              
 its                                                                                                                                                                                                                                                                    
 financial                                                                                                                                                                                                                                                              
 assets as                                                                                                                                                                                                                                                              
 fair value                                                                                                                                                                                                                                                              
 through                                                                                                                                                                                                                                                                
 profit or                                                                                                                                                                                                                                                              
 loss and                                                                                                                                                                                                                                                               
 fair value                                                                                                                                                                                                                                                              
 is                                                                                                                                                                                                                                                                     
 determined                                                                                                                                                                                                                                                              
 via one of                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 following                                                                                                                                                                                                                                                              
 categories                                                                                                                                                                                                                                                              
 :                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                        
 Level I -                                                                                                                                                                                                                                                              
 An                                                                                                                                                                                                                                                                     
 unadjusted                                                                                                                                                                                                                                                              
 quoted                                                                                                                                                                                                                                                                 
 price in                                                                                                                                                                                                                                                               
 an active                                                                                                                                                                                                                                                              
 market                                                                                                                                                                                                                                                                 
 provides                                                                                                                                                                                                                                                               
 the most                                                                                                                                                                                                                                                               
 reliable                                                                                                                                                                                                                                                               
 evidence                                                                                                                                                                                                                                                               
 of fair                                                                                                                                                                                                                                                                
 value and                                                                                                                                                                                                                                                              
 is used to                                                                                                                                                                                                                                                              
 measure                                                                                                                                                                                                                                                                
 fair value                                                                                                                                                                                                                                                              
 whenever                                                                                                                                                                                                                                                               
 available.                                                                                                                                                                                                                                                              
 As                                                                                                                                                                                                                                                                     
 required                                                                                                                                                                                                                                                               
 by IFRS 7,                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 will not                                                                                                                                                                                                                                                               
 adjust the                                                                                                                                                                                                                                                              
 quoted                                                                                                                                                                                                                                                                 
 price for                                                                                                                                                                                                                                                              
 these                                                                                                                                                                                                                                                                  
 investment                                                                                                                                                                                                                                                              
 s, (even                                                                                                                                                                                                                                                               
 in                                                                                                                                                                                                                                                                     
 situations                                                                                                                                                                                                                                                              
 where it                                                                                                                                                                                                                                                               
 holds a                                                                                                                                                                                                                                                                
 large                                                                                                                                                                                                                                                                  
 position                                                                                                                                                                                                                                                               
 and a sale                                                                                                                                                                                                                                                              
 could                                                                                                                                                                                                                                                                  
 reasonably                                                                                                                                                                                                                                                              
 impact the                                                                                                                                                                                                                                                              
 quoted                                                                                                                                                                                                                                                                 
 price).                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                        
 Level II -                                                                                                                                                                                                                                                              
 Inputs are                                                                                                                                                                                                                                                              
 other than                                                                                                                                                                                                                                                              
 unadjusted                                                                                                                                                                                                                                                              
 quoted                                                                                                                                                                                                                                                                 
 prices in                                                                                                                                                                                                                                                              
 active                                                                                                                                                                                                                                                                 
 markets,                                                                                                                                                                                                                                                               
 which are                                                                                                                                                                                                                                                              
 either                                                                                                                                                                                                                                                                 
 directly                                                                                                                                                                                                                                                               
 or                                                                                                                                                                                                                                                                     
 indirectly                                                                                                                                                                                                                                                              
 observable                                                                                                                                                                                                                                                              
 as of the                                                                                                                                                                                                                                                              
 reporting                                                                                                                                                                                                                                                              
 date, and                                                                                                                                                                                                                                                              
 fair value                                                                                                                                                                                                                                                              
 is                                                                                                                                                                                                                                                                     
 determined                                                                                                                                                                                                                                                              
 through                                                                                                                                                                                                                                                                
 the use of                                                                                                                                                                                                                                                              
 models or                                                                                                                                                                                                                                                              
 other                                                                                                                                                                                                                                                                  
 valuation                                                                                                                                                                                                                                                              
 methodolog                                                                                                                                                                                                                                                              
 ies.                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                        
 Level III                                                                                                                                                                                                                                                               
 - Inputs                                                                                                                                                                                                                                                               
 are                                                                                                                                                                                                                                                                    
 unobservab                                                                                                                                                                                                                                                              
 le for the                                                                                                                                                                                                                                                              
 investment                                                                                                                                                                                                                                                              
 and                                                                                                                                                                                                                                                                    
 include                                                                                                                                                                                                                                                                
 situations                                                                                                                                                                                                                                                              
 where                                                                                                                                                                                                                                                                  
 there is                                                                                                                                                                                                                                                               
 little, if                                                             

- More to follow, for following part double click  ID:nRSY2182Qh