Ann: WE-4 Results Extend West Erregulla Gas Field, page-45

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Byron

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08/04/21

21:48

Post #: 52343556
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Originally posted by gimo211: ↑

The results are great - perhaps not to the extend as some expected (so far inconclusive results for the Wagina and High Cliff sandstone) - but reservoir pressure of 6,800 psi coupled with an average porosity of 11% in the defined pay zone and a peak of up to 19% porosity in the main Kingia sandstone is truly unbelievable.

Not confirmed yet, but we likely will have good to high permeability (up to 100md?) at this depth and I'm convinced the upcoming tests will set a new flow rate record for Australia, somewhere around 100 mmcfd from an onshore filed is possible... It would be outstanding by any means...

No gas water contact encountered means more gas at depth. Another major result from this drilling and the upcoming certification will reflect this with much higher resource figures. West Erregulla might hold 1.5 to 2 TCF of gas. The resource is worth billions...

West Erregulla is confirmed to be a world class onshore gas field!!!

The most important outcome from today: the results are great. Unfortunately, the share price is still in the hand of traders looking for selling the news. I only can repeat myself: this is mainly the responsibility of the BOD and they must add a vision for the future of WGO to be more than a dump on news trading stock...

But after today's announcement, the likelihood of a take-over offer has strongly increased as well (MinRes?). Perhaps this is the only thing these two Scots have in mind, but at a right price a t/o offer would be nice for us retail holders too...

I think, still major upside possible - even with our share price...

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The board are useless communicators imo, we should have merged with STX for a more professional, organised & stronger company. We certainly would be financially better off today right.....

WGO Price at posting: 23.0¢ Sentiment: Hold Disclosure: Held
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Ann: WE-4 Results Extend West Erregulla Gas Field, page-45

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