Blackgold, in relation to your comment regarding the coal and the farm out, if I have read your post correctly, you seem to not understand the value that this coal has in the form of Coal seam gas. ERM is funding the project which gives WGP $3m in cash ($100,000 already recieved) and 25% of of the reserves. As I indicated ERM would require at least a 100Pj of gas to make the plant worthwhile. ESG is required to prove 500Pj in their contract with macquarie. based on valautions, 1Pj of 2P reserves ie those certified is worth some $2m per 1Pj. WGP could be looking at an enterprise value of some $50m (if 100Pj proved or 25Pj for WGP) or more and even more once gas is in production and the best thing is that ERM will be buying it all at market prices . And the results shouldnt be far away. so if you think that the coal is not worth much think again. It was the reason I got into WGP in the first place. Didnt really care about the kentucky oil. However, Kentucky and the ROC are now cream and real bonuses. For a company with only $10m capital value, has a lot of upside. Even the Directors cant get this wrong as they have farmed it out
WGP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
