Summary August 2020...Access to portfolio of drilling outcomes –Guyana-Suriname Basin Summary...

Access to portfolio of drilling outcomes – Guyana-Suriname Basin

Summary – August 2020

London AIM (WTE.L)

Stena Carron image courtesy of Stena Drilling www.westmountenergy.com

The information contained in this presentation document (the “presentation”, which term includes any information provided verbally in connection with this presentation document) does not constitute an offer or solicitation to hold, sell or invest in any security and should not be considered as investment advice or as a sufficient basis on which to make investment decisions. This presentation is being provided to you for information purposes only and is the property of the Company. Making this presentation available in no circumstances whatsoever implies the existence of a commitment or contract by or with the Company, or any of its affiliated entities, or any of its or their respective subsidiaries, directors, officers, representatives, employees, advisers or agents for any purpose.

Whilst this presentation has been prepared in good faith, neither Westmount Energy Limited (the “Company”) nor any of its group undertakings nor any of their respective directors, members, advisers, representatives, officers, agent, consultants or employees: (i) makes, or is authorised to make any representation, warranty or undertaking, express or implied, with respect to the information and opinions contained in it or accepts any responsibility or liability as to the accuracy, completeness or reasonableness of such information or opinions; or (ii) accepts any liability whatsoever for any loss howsoever arising, directly or indirectly, from use of or in connection with the information in this presentation.

The Company is under no obligation to provide any additional information or to update or revise the information in this presentation or to correct any inaccuracies which may become apparent. This presentation may include certain forward-looking statements, beliefs or opinions. There can be no assurance that any of the results and events contemplated by any forward-looking statements contained in the information can be achieved or will, in fact, occur. No representation is made or any assurance, undertaking or indemnity is given that any such forward looking statements are correct or that they can be achieved. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this presentation or on the completeness, accuracy or fairness thereof.

No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or its directors, officers, partners, employees, agents or advisers or any other person as to the accuracy or completeness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for any such information or opinions or for any errors, omissions, misstatements, negligence or otherwise for any other communication written or otherwise. In addition, in issuing this presentation, the Company undertakes no obligation to update or to correct any inaccuracies which may become apparent in this presentation.

The statements contained in this presentation may include "forward looking statements" that express expectations of future events or results. All statements based on future expectations rather than on historical facts are forward looking statements that involve a number of risks and uncertainties and the Company cannot give assurance that such statements will prove to be correct. Any forward looking statements made by or on behalf of the Company speak only as of the date they are made. The Company gives no undertaking to update forward looking statements to reflect any changes in expectations, events, conditions or circumstances upon which such statements are made.

Slide 2www.westmountenergy.com

Introduction

Listed on AIM (WTE.L) Westmount

Energy Ltd. is a Guyana-Suriname

focused oil and gas exploration

Company with investments which

offer exposure to multiple

ExxonMobil operated, high impact

Cretaceous, wells in one of the

most prolific emerging

hydrocarbon provinces worldwide,

over next 12 Months

*(timetable subject to COVID-19 disruptions)


Capital Structure

• Ordinary shares1 125,761,486

• Market Capitalisation1 ~GBP£20.7M (closing share price 16.5p)

• Share Options2 4,500,000; No Warrants outstanding

• Unsecured 10% p.a. Convertible Loan Notes 2021 £0.400M

• Cash1 ~GBP£2.3M

Major Shareholders1

• Gerard Walsh (Chairman)

• Dermot Corcoran

• David King

• Thomas O’Gorman

Board Broker / NOMAD

Cenkos Securities Plc

Note 1: As of the 31st July 2020; Note 2: As of the 6th August 2020

Dermot Corcoran

Gerard Walsh

John Craven

Thomas O’Gorman

Others

NS Oil and Gas Ltd.

Canaccord Genuity Group Inc.

Original Map Source: ExxonMobil Presentation 2018

40.3%22.7%

12.4%

9.5%7.2%

4.2%

3.7%

Company Snapshot

• Strategic investments used to establish position in prolific, emerging, Guyana-Suriname Basin

• Since 2015 >30,000 km2 3D seismic acquired offshore Guyana

• 16 out of 18 expl. successes on Stabroek Block; >8bnboe discovered to date.

• Orinduik Block (2019) Tertiary discoveries (Jethro & Joe) includes play opener - but heavy oil

• Potential exposure to multiple ExxonMobil operated Upp. Cret.wells - next 12 months

• ‘WTE Portfolio effect’ up to 3 wells Canje;1 well Kaieteur; + potential(U.Cret.) Orinduik & Blk 47 drilling

• Potential for transformationaltransaction in future - possibly via

RTO

WTE Indirect Interests

Canje Block (JHI ~4.8%)

Kaieteur Block (Cataleya ~5.4%)

Kaieteur Block (Ratio Pet.~0.7%)

Orinduik Block (Eco ~0.8%)

Block 47 (Ratio Pet.~0.7%)

Drillships working mid-2020

Stena Carron (Guyana)

Noble Bob Douglas (Guyana)

Noble Tom Madden (Guyana)

Noble Don Taylor (Guyana)

Noble Sam Croft (Suriname)


Original Map Source: ExxonMobil Presentation 2018

Guyana - Strategic Corporate Investments

UnListed - Private Corporations Approximate Holding Main Asset

JHI Associates Inc. 3,563,770 common shares ~4.8% issued shares1

17.5% Canje Block

Cataleya Energy Corp. 567,185 common shares ~5.4% issued shares2 25% Kaieteur Block

Listed - Public Corporations

Eco Atlantic Oil & Gas Ltd. 1,500,000 common shares ~0.8% issued shares 15% Orinduik Block

Ratio Petroleum LP 1,200,000 share units ~0.7% issued shares 25% Kaieteur Block

Non-Guyana - Energy Investments

Listed - Public Corporations

Argos Resources Ltd. 1,000,000 common shares ~0.5% issued shares 100% PL001 Falkland. Is.

Other

NPI - offshore UK Block

Licence P1918 0.5% NPI South Colter Discovery

1 Assumes same number of shares in issue as at 13th November 20192 Assumes same number of shares in issue as at 30th August 2019


Source: Westwood Global Energy Group 28 April 2020


Source: Various ExxonMobil Press Releases 2015-2020

>8 BnBoe discovered to date16 of 18 Expl. successes (89%) Tertiary & Upp. Cret. Sandstones; Cretaceous? Carbonate ReefPayara-1

Pluma-1

Ranger-1

Pacora-1

Liza (Deep)-3

Longtail-1

Turbot-1

Hammerhead-1

Liza-1Snoek-1

Liza-2

Liza-5

Payara-2

Liza-4

+Tilapia-1

+Haimara-1

+Yellowtail-1

+Tripletail-1

+Mako-1

Uaru-1

Avg. Discovery Size>500 MMBOE


Source: Hess Investor Day Presentation 12 Dec.2018 and ExxonMobil Investor Presentation 18 June 2019

Potential for Predictive Capacity From 3D Seismic?


• Discovered and potential resource continues to grow – stacked petroleum systems - prolific basin

• Potential for quality reservoirs, source rocks, multiple HC expulsion phases

• Proven Upper Cretaceous Play areaexpanding (Carapa-1, Blk 58 discvs.)

• New plays emerging - deeper HCsconfirming upside potential in basin - Maka Central-1 Santonian 73m oil- Sapkara West-1 Santonian 36m oil- Kwaskwasi-1 Santonian 129m HCs- Tripletail -1 deeper HC pay noted- Yellowtail-2 deeper HC reservoir

WTE Indirect InterestsCanje Block (JHI ~4.8%)Kaieteur Block (Cataleya ~5.4%)Kaieteur Block (Ratio Pet.~0.7%)Orinduik Block (Eco ~0.8%)Block 47 (Ratio Pet. ~0.7%)

Carapa-1 Repsol/TLW /TotalUpper Cretaceous4m Net Oil pay27oAPI; (S<1wt.%)

Maka Central-1 Apache/TotalCampanian50m Net Light oil + Gas-Cond. pay40-60oAPI

Joe-1 TLW/Total/EcoUpp. Mioc./Pliocene14m Net Oil pay11-15oAPI (S <5wt.%)

Sapakara West-1 Apache/TotalCampanian30m net oil pay +13m Gas-Cond. pay

Tanager-1 EM/Hess/CEC/RPQ3 2020

Goliathb.-Voltz. N.-1 TLW/RP/PluspetrolQ1 2021?

Liza-1 EM/Hess/CNOOCUpper Cretaceous90m Net Oil pay32oAPI; (S 0.5wt.%)

Bulletwood-1 EM/Total/JHI/MAQ4 2020?

Uaru-1 EM/Hess/CNOOCUpper Cretaceous29m Net Oil pay

Jabillo-1 EM/Total/JHI/MA2020/2021?

Potential Exploration Wells in2020 -2021 with anticipated spud dates. (All wells subject to Permitting and drillship availability/scheduling)

Sapakara West-1 Apache/TotalSantonian36m Net Oil pay40-45oAPI

Keskesi-1 Apache/TotalQ3 2020

Sloanea-1 Petronas/ExxonMQ4 2020?

Sapote-1 EM/Total/JHI/MA2020/2021?

Redtail-1 EM/Hess/CNOOCQ3 2020

Jethro-1 TLW/Total/EcoLwr. Miocene55m Net Oil pay11-15oAPI (S<5wt.%)

Kwaskwasi-1 Apache/TotalCampanian63m Net oil pay + 86m Net Gas-Cond.34-43oAPI

Kwaskwasi-1 Apache/TotalSantonian129m Net HC pay


Maka Central-1 Apache/TotalSantonian73m Net Oil pay35-45oAPI

Guyana – Suriname Basin

Original Map Source: Mapstand Open Access 2019

1

Fundraising Events

1. May 2017 – Price 5P - Placing & Open Offer - Raised £913K

2. May 2018 - Price 7.5P - Exercise of 2017 Placing warrants -Raised £472K

3. Oct. 2018 – Unsecured 10% Convertible Loan Notes 2021 –Raised £1.6M

4. Feb. 2019 – Price 9P – conversion of Unsecured 10% ConvertibleLoan Notes 2021 - £940K

5. Aug. 2019 – Price 13P - Placing & Open Offer - Raised £5.573M

6. Nov. 2019 - Price 14.93P - conversion of Unsecured 10% Convertible Loan Notes 2021 (incl. interest) - £327K

2 3

4

5

6

Board & Management Team

ChairmanGerard Walsh, age 57, a Swiss resident, is a member of the Chartered Institute of Management Accountants andis an experienced investor having been involved in financing oil and gas companiesfor +25 years.

Executive DirectorDermot Corcoran, age 60,is a petroleum geologist and geophysicist, with more than 30 years’ experience working with both major and minor hydrocarbon exploration companies globally.

DirectorThomas P.O’Gorman, age 68, is an experienced long-term investor in the energy sector, and a former chairman of CoveEnergy Plc (formerly LappPlatts Plc) who has been involved in financing oil and gas companies for >40 years.

Non-Executive DirectorDavid R.King, age 62, is a Jerseyresident, a Fellow of the Institute of CharteredAccountants in England and Wales and has over 35 years’ experience in capital markets and cross border structuring.


Conclusions/Investment Case

• WTE access to portfolio of funded drilling outcomes in Guyana-Suriname Basin - over compressed timeframe

• Stabroek Block has yielded Avg. discovery sizes to date >500 MMBOE; 89% exploration success rate

• Commencement of initial drilling campaign at adjacent Kaieteur & Canje Blocks anticipated August 2020.

• WTE exposure to multiple ExxonMobil operated, Upper Cretaceous, wells over next 12 months – timetable subject to COVID-19 disruptions

• Kaieteur Block – First well (Tanager-1) targeting 256 MMbbls; POSg 72%1

• Canje Block – First well (Bulletwood-1) targeting >500 MMBO Liza look alike; with possible second well targeting billion barrel-class basin floor turbidite fan2

• ‘Advantaged barrels’ with low breakeven costs (Liza Phase II - $25/bbl ) offers potential to sustain offshore Guyana as investment growth area

Notes: 1NSAI Kaieteur CPR, May 2019; 2JHI Website www.jhiassociates.com


Westmount Energy Ltd.London AIM (WTE.L)

Contact us:

Westmount Energy Limited,Forum 2,Grenville Street,St Helier,JerseyJE1 4HH

www.westmountenergy.com

Tel: +44 1534 823059

Appendix 1Guyana – some key facts


• Guyana: Co-operative Republic of Guyana; independent since 1966

• Area: 215,000 Km2 (83,000 square miles)

• Population: 782,766 (2019) World Bank

• Language: English (official), Guyanese Creole & regional languages

• GDP: US $4.28 billion (2019) World Bank

• Economic Activities: agriculture, mining (bauxite & gold), timber, shrimp fishing

• Capital: Georgetown

• Neighbouring Countries: Suriname, Brazil, Venezuela


Summary August 2020...Access to portfolio of drilling outcomes –Guyana-Suriname Basin Summary...

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