resource stocks

WGP was named junior resourse stock of the year.
A summary of the article:

2011 the year for
junior energy player
An emerging energy resource for Australia, shale gas, could set a Western Australian junior on the
road to domestic success this year.
APRIL 2011 rEsOurCEstOCKs
W hen Westralian
Gas and Power (WGP)
listed on the australian
securities exchange
in March 2005, it was the first
Western australian company to do
so with a particular focus on proving
up economic reserves of coal seam
gas.
It later diversified, as many listed
juniors do, grabbing an exclusive
stake in some onshore oil leases in
the Us state of Kentucky, as well
as holding stakes in two significant
conventional oil and gas leases in the
offshore Perth Basin in conjunction
with operator roc Oil.
however, it surrendered those
offshore leases last January, after
failing to attract farm-in partners
following roc?s withdrawal.
?But we do own all the data done
by Roc and if we find a joint venture
partner we will re-apply for the areas,?
executive chairman Peter Briggs said.
WGP also became interested in an
emerging technology a few years ago
-- extracting commercial quantities
of oil and gas from the shales that
are widespread throughout much of
the world ? and entered into a joint
venture with established conventional
petroleum explorer aWe.

Briggs rates the discovery of
the north Perth Basin gas shales as
?the most important thing WGP has
achieved so far?.
successful exploitation of this
exciting emerging energy resource
would add ?incredible value to the
company?, which should then become
a gas producer, complementing its
small Us oil production.
?and, because of the excitement
shale gas is creating in australia,
that?s what we are going to
concentrate on,? he adds.


Overall, Briggs said WGP was
?very confident? about the medium
and long-term future, ?particularly
because of shale gas?.
?Shale gas has revolutionised
energy production in the US, with
roughly one in every third new gas
discovery being shale related, and
now Western Australia is emerging
as a major shale gas region,? he said.
?WGP believes the North Perth
Basin will become Australia?s most
important shale gas production
province and we want to be a part of
that.?


It also stated Peter Briggs was the largest shareholder in the company and it is in his own interest to increase the value of this company.