Sale of Company

Westmount Energy Limited 28 February 2002 CONTACTS: Derek Williams - Chairman, Westmount Energy Limited Tel: 020 7351 2925 Derek Rawlings - Investec Henderson Crosthwaite Corporate Finance Tel: 020 7597 5970 Paul Downes/ Dominic Barretto - Merlin Financial & Corporate Public Relations Tel: 020 7606 1244 28 February 2002 PRESS RELEASE WESTMOUNT ENERGY LIMITED SALE OF WESTMOUNT RESOURCES, INC to LEPCO plc Derek Williams, Chairman of Westmount Energy Limited ('Westmount') today announced that Westmount has agreed to sell its Louisiana, USA based wholly owned subsidiary company Westmount Resources, Inc ('Westmount Resources') to the oil and gas company LEPCO plc ('LEPCO') for a total consideration of £495,000 to be satisfied by the issue and allotment of 6,500,000 new 1p Ordinary Shares of LEPCO to Westmount at 4.5p per share, representing approximately 14.27% of LEPCO's enlarged issued share capital, and £202,500 in cash. Westmount Resources holds overriding royalty and working interests in oil and gas properties offshore Louisiana, Gulf of Mexico and overriding royalty interests onshore Louisiana. Commenting on the transaction, Derek Williams stated: 'This sale is in line with our current strategy of streamlining our business into entirely non-operated investment activities. We realise some cash and obtain a significant stake in AIM quoted LEPCO which with its recent change of management is expanding its operations in the USA. We believe that LEPCO has a good management team and an exciting future. We are very supportive of its objectives and are pleased to become a key shareholder at an early stage in its growth.' Notes to Editors: Westmount Energy Limited is a Jersey, Channel Islands, based independent oil and gas investment company with its shares traded on AIM. There are a total of 13,576,530 shares in issue held by some 2,000 shareholders. There are also outstanding share options over 875,000 shares exercisable at 331/2p per share by 31 December 2004. Westmount owns 20,000,000 fully paid ordinary shares of AIM quoted Fusion Oil & Gas plc ('Fusion') representing some 21.6% of the issued share capital of Fusion which company holds interests in 8 oil exploration licences across 6 countries of West Africa. Westmount also owns approximately 14.75% of the issued share capital of Eclipse Energy Company Limited ('Eclipse'). Eclipse has developed an innovative power generation concept, whereby power would be generated from stranded offshore gas reserves and integrated with power generated from wind turbines in an offshore generating station and the electricity exported by cable to the National grid. Eclipse has been awarded a gas production licence over Blocks 113/28 and 113/29 East Irish Sea by The Department of Trade and Industry and will now be preparing a Field Development Plan for its first project. In addition Westmount owns 5,500,000 fully paid ordinary shares of AIM quoted Desire Petroleum plc ('Desire'), representing approximately 5.3% of the issued share capital of Desire, which company has interests in oil exploration offshore the Falkland Islands. Westmount also has an overriding royalty interest in the North Sea producing Buchan Oilfield. This information is provided by RNS The company news service from the London Stock Exchange