Calling the Wolf Pack, page-17

Definitely dependent on imminent news, no doubt there are many here who were excited about the prospect of a drilling campaign in 2014.
Things have changed since then. The new Mongolian Govt is much more willing to support foreign investment.
Wolf is a different enterprise, now half-Chinese owned, so own would speculate have easier access to Chinese funding and farm in partners. The market is waiting for proof though. Wolf have cried wolf before (I couldn't resist).
Oil price will do what oil price will do Opec have their agenda pushing price up, US shale oil may get an artificial boost from US-first policies pushing price down. Exxon may climb back into bed with Russia to access the antarctic, not sure what that will do, kill polar bears I suppose. However the fact remains that near term Chinese reserves are not keeping up with demand for hydrocarbon and if Wolf can prove up even a fraction of the oil that's indicated, the Chinese will pay up. Again we need firm news that Wolf are progressing that.
News from other explorers may be the initial driver of a re-rate here. If there are signs that the majors are taking an interest in Mongolia and willing to spend money there, it will have an immediate effect of de-risking WOF some which will translate into investor demand. It won't take much to get the SP back to 0.06.
Good luck.