oil, page-4

While the oil finds arent mega, in fact they a micro, the fact that oil is being pumped and they are drilling more holes indicates that something right is happening. These micro reserves if managed properly can add up to a lot of dollars. 40 barrels a day is, at $70, some $1,022,000 pa. not much oil but when you add it up gives significant revenue for such a low cap company. roughly 90m shares including options, preference shares at 12,5c gives about $11.25m.

$12,000 a hole and a payback of 2 months, not bad. and we still have the CSG resource.

Correct me if am wrong, but WGP is based on the latest announcement sound like it is cash flow positive with money from exisiting well output paying drilling costs.

Just needs all the production to be reported to give a positve move in the share price and the cash flow position.

Kentucky oil good, CSG even better.