makes sense now! a theory!, page-3

I think the simplest answer is the best one though: GREED

With wpl spending money like a drunken citi group banker in early '08. 30 to 40 exploration wells in the next 4 to 6 quarters (or whatever it is?), one of these should of been spudded in Artemis at least! But no Wpl turned up the heat in the kitchen and meo could not handle it(my opinion), Voelte probably said: we will take the whole farm at "this" price. Voelte does not play well with others. Meo board or Albers could not reach an agreement or said no jointly and this is where we find ourselves now: Desperate and Dateless

Chevy's offer was probably too low and they are very well resourced with enough gas to feed there plants. Where as woodside has enough but in geographically difficult spots. This should of been a bidding war between wpl and chevy for this block, at the "Right" price.

Wpl have songa on stanby with 2 or 3 rigs? ready to roll. This prospect should of been drilled early to mid 2010, wpl will continue to play hard ball.

My thoughts are this: wpl with this Huge exploration program will hit the mother load soon, chevy will probably too. This will lead to weak demand for third party gas, and by late 2010, IF we do hit the motherload at Artemis we are going to have to accept a reduced price per Tcf. And I for one will not be holding the baby again on this one. Losty and I will be playing golf somewhere sunny.

As has been said this stock is a ST trade, I cannot vouch for its viability as a long term buy and hold, that is just crayzeeee, not worth the stress sort of stuff and its not the sort of company I can see myself owning. And honestly I would be rather sitting with a couple of grand in QBE than this over the long term. At least management over at QBE have an iota of respect for their shareholders big/small/medium it does not matter.