Hartley's have a price target of 12 cents already!
There have been a number of recommendations recently including BUY up to 5.5 cents. This strongly suggests a higher share price is expected short to medium term!
Recommendations have been happening for a while now and one in particular caught my eye, over six months ago.
It indicated a successful JV / Farm out deal for Seychelles asset would immediately see WHL trading OVER 10 cents per share!
Further to that, the report also indicated further deals / activities could see the share price easily reach 20 cents later in 2012.
In light of todays updated company announcement re discussions with THREE Multi-Billion Dollar companies, it is looking a lot like we will achieve the JV outcome hoped for!
Add to this the SHELL PALTA 1 drill mid year, particularly if successful - infers 2.5TCF of Gas and estimated 50cps to WHL.
That's all before we get to further developments with La Bella / Otway Basin Gas Field Asset including Farm Out.
Plus, may also be another surprise or announcement as the year progresses.
Given the above, I think if all falls into place over next few months or so, then a share price of 20 cents is definitely possible later THIS year!
QFY Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
