Ann: Wizard Lake Production Update -1800 boed, page-40

I thought I would post a more sensitive post today. You can almost feel the subtle change in the market to WBE shares. The optimism is back.
Buyers returned yesterday and are again dominant today. Why!!!

The market is like a living animal made up of a lot of cells. The oil bit of the market had a major bad event when the oil price plummeted $16 US about a month ago. Gold went up.

So the market as a whole happily mossies alone.

Meanwhile our little bit at WBE is thrown into turmoil, profits slashed before they even start, doubts, falling prices all exacerbated by a lack of upto date information. The news we did get in early January was because of the servere cold, nothing much could be done, we were just in survival mode. And we survived.

So instead of bathing in the glory of completion of a major oil facility, gas pipeline and the connection of Rex 1, 2 and 3 we were flung into a state of uncertainty.

It didn’t help on these threads to have the pessimist and the braggard posting non stop rubbish.

We have now gained a certain confidence back about the companies future and are again looking forward to future news.
Our future actually depends on a flow of good news. More drilling, increasing oil production, stable markets and a reasonable oil price.

Hopefully the oil price has bottomed out and will continue to seesaw about. Today we have been trading around $53.50 US which is $4 US above the recent bottom.

Sometime ago I explained why I post on the WBE threads. I started after we found oil at Wizard Lake and the share price was .4 cents, a MC of $4M and the share price didn’t go up. In fact it stayed at mostly .4 cents for several months.

There was a lot of negativity on these threads, it was pathetic. I started posting because hey we just found oil and we have a Market Capitalisation of $4M we have a great future and we are undervalued.
Mostly I post so that any newbie that turns up can read some accurate account of what is happening and of course to point out any rubbish that gets posted.
This has worked to some degree as most people here understand the crucial difference between the value of bopd and boepd.
We all know that you can ignore the value of the gas because it is the amount of oil coming out of the well that matters. Messina has focused on the oil.

Whilst saying all that I’m surprised how much gas we are actually getting with our oil.
3.5 million cu ft per day is quite large and could mean we will make a bit of dough out of it.
Of course I should I know more on Monday.

Enjoy your day, things are looking great.

Saltbus