Westgate Energy Inc

WGT.V

Not Compliant
Exchange
Sector
Headquarters
Group
TSX
Energy
Canada
Micro cap

Westgate Energy Inc is not Shariah Compliant because it fails the financial ratios.

7.86%

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
0
$0.00
$0.00
$0.00
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
401988.51%
-1273.36%
1586.51%
0.00
1.17
0.00%

Shariah Compliance

Debt
Non-Compliant Assets
5.28%
Impure Income
7.86%

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
Impure Income
7.86%

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
Impure Income
7.86%

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
Cash
20.41%
Cash & AR
24.14%
Impure Income
7.86%

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
Cash
20.41%
Cash & AR
24.14%
Impure Income
7.86%

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
7.86%

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Westgate Energy Inc. is a Canada-based junior exploration and production company. The Company is focused on the emerging Mannville Stack fairway located in East-Central Alberta and West Central Saskatchewan. This fairway is characterized by known accumulations of medium and heavy oil and are being unlocked via the application of modern drilling techniques utilizing multi-lateral horizontal drilling. The Company has a 100% working interest in six sections (1,536 hectares) of mineral rights in the Cold Lake Oil Sands Area of Alberta (the New Core Area). Its new core area has approximately 40 unbooked multilateral drilling locations identified within the Mannville Stack group of formations. In addition, it is focused on the production of its summer program consisting of two horizontal, multilateral oil wells drilled at the Company’s core Killam property in Eastern Alberta (the Summer Program Wells).

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