They are already in bed with AWE it seems.....a mighty fine force to be linked with.
AWE might buy them out one day?
Either way, the market is valuing the company at just $3million.
I bought some yesterday and cant believe its not moving.
Some points from a recent announcement but I reckon this is completely under the radar.
Should mbe sitting around 3c imo right now.
WGP is capitalising on the new shale gas activity in the Perth Basin
Farmed out EP455 to shale gas exploration company Australian Worldwide Exploration Limited (AWE)
AWE Ltd is conducting a deep coring program to determine the shale gas potential of the Woodada deep well in the nearby permit EP413.
The AWE March 2010 Quarterly Report stated that Gas was released from the core during the core recovery procedure, which may be viewed as a positive sign for the potential of the play.
WGP is preparing a shallow seismic program for its 100 per cent owned permit DR-11 adjacent to EP-455 to target possible shale gas drill prospects.
The company will also target the Cadda formation and Cattamarra coal measures Ocean Hill #1 some 3500m to the east of DR11 flowed 709,000 cubic feet of natural gas per day at a depth of 3063 to 3130, from a zone 100m below the top of the Cadda formation.
Also oil shows were recorded throughout the Cattamarra coal measures
These geological units in the prospective area are believed to be significantly shallower as they are on the up side of a north-south trending fault which passes through the eastern boundary of DR11
Ready market for gas at planned power station 5km west of permit area
WGP Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
