Ann: WGO: Rejects non-binding indicative proposal from Strike, page-22

Knopchai,

Totally agree that WGO are in deep (....) or stuffed as you call it.

Have said it before and it gets worse for WGO every week. I simply do not understand why they didn't appoint advisers months ago. The two large shareholders could have made themselves and their shareholders a fortune. Now, what can they do? A capital raise - IMO the chance of a CR is none and buckleys and buckleys has left the building.

Finally it looks like WGO have found the playbook:

Company receives offer
Company appoints adviser
Company rejects offer
Adviser tries to get better offer from bidder or bring other parties to the sale
Company sells (or merges)

Hopefully the long-suffering WGO holders get a parachute out of this mess and STX become the primary Perth Basin operator with a huge 100% operated acreage with no encumbrances, or alternately if a third party acquires WGO, a cashed up party joins STX on the Perth Basin journey. This journey, when these terrible times pass, should hopefully still be a story with significant potential because it is a very, very low cost of future supply.

As to other potential third party acquirers, that list has probably narrowed significantly over the last few weeks.

How fortunate that STX has a ton of cash at the moment.

As always GLTA and take care!

Cheers

Adaltiora