West Erregulla-2 well achieves a maximum flow rate of 69 million standard cubic feet of gas per day from the Kingia Sandstone• Flow test confirms excellent conventional reservoir quality, well deliverability, and production potential.
What more do Shareholders/investors want the Company to say at this stage in the proceedings?
The announcement said everything imo that implies this is a future producer.... as I say it was a punt for some before the discovery and flow rates at A$0.42 now it should be there purely on its merits so after the short term manipulation is over we should start and see the value added.
I am looking forward to how this unfolds moving forward....
Book Reserves. Gas Sale Agreements with possible cash up front payment to fund pipeline. Farm In Partner to fund pipeline and more wells. Likely Buyout. gee, the worst case scenario for me is that we put a plan in place to become a Producer but that’s “down the track” And will provide a regular income stream and dividends. Personally don’t view that worst case scenario as a bad option
All depends on what an investor is looking for and of course the time it takes to realise a return on their investment. Would investors/shareholders have preferred a duster or less positive flow rates? I think not! This was a major step forward and how the Company proceeds can only present positive movement in the Market Cap... whichever way I consider the options it is simply a question of time v investment which may effect people’s thoughts and what unravels first.... Booking Reserves, a plan to produce, a Farm In or a Buy Out. The latter two could occur at any time from hereon-in.
All In my opinion.
Good Luck All
WGO Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
