From today's announcement
"Gaffney Cline & Associates have independently assessed the permit as hosting prospective gas resources of approximately 10 Tcf in the best case, with up to 20Tcf in the high case.
Statoil, Eni and Shell are all chasing the oil play immediately to the north of our permit, and we anticipate being able to announce very significant prospective resources for the oil case in the coming weeks. "
While the Gas targets are very enticing it's the Oil that the majors are after
I think this stock could see a significant re-rating when they announce this "very significant oil target"
Given the size of the Gas targets I'm thinking the Oil target will be somewhere in the range of 1 Billion to 2 Billion Barrels oil assuming a 100M bls Oil to 1Tcf Gas estimate ratio
At current level of 0.1c its trading at cash backing
WA-507P 10Tcf-20Tcf Gas plus very substantial oil target to be announced soon
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Mkt cap ! $26.27M | |||
| Open | High | Low | Value | Volume |
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| 6 | 2107361 | 1.5¢ |
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| Price($) | Vol. | No. |
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