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Ann: Certification confirms West Erregulla 2C of 513 Bscf gross, page-25

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ddzx

37,911 Posts.

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18/05/20

13:54

Post #: 44680189
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Originally posted by thecone ↑

Yep sounds to me like they intend to forward sell gas to raise money now, rather than dilute the shares.
There may have been a caveat by the lender that an independent, conservative estimate that had a high degree of certainty be undertaken.
One that could be used as collateral against debt funding.
Reading Dennis Donalds quote.... I'm not sure there will be a share issue, and basically told stx there offer was a joke!
Wgo management don't want to let go of there 'control'of 50pc of ep469 to stx. They also don't want to get lumbered with jaws'.

Also stx other tenements, are just potential at this stage. Whereas ep 469 is bankable so I say wgo are right to hold on to it.
Would beach or min want we2?.... Would they want jaws'?
Go both stx wgo and bpt for that matter.
Cheers tc

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thanks for that TC

good insights for me

i can see how the two directors would want to avoid more dilution of their holdings by forward selling gas

regards

WGO Price at posting: 15.5¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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Ann: Certification confirms West Erregulla 2C of 513 Bscf gross, page-25

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