I agree, it more like the ill-informed Mums and Dads who will be ripped off again.
Hopefully some will read HC and see mine plus other posts and leave well alone. So that the capital raising falls flat on its back.
Let review WGP success so far.
1, Farmed out 75% of the WA landholding to some punters who have vast expereince in exploring for oil, do you really believe that? These new guys did a successful capital raising last year (no it bomb and was pulled) and had a series of fantastic articles in the WA and Australian newspapers (showed them in a poor light unfortunately).
2, How about the success in the USA, lots of frequent flier points for all and free flowing oil whilst drilling! What a ramp. Then the Director sell, still do not how come ASIC or the ASX has investigated that matter.
Most of these new funds will yet again go on global travel (bet the possible deals are either in France or Italy, how do I know that? Well they have good food there and these Directors like there food and entertainment allowance).
If they had any respect to any of there shareholders they should be underwriting the issue as the Directors at ITC have done.
I sorry I can no longer call this company as a dog as that too good a name for it and I like dogs.
The only positive is if you sell you can offset your losses elsewhere.
Time for all to move on and let this one die.
WGP Price at posting:
2.1¢ Sentiment: LT Sell Disclosure: Not Held
