Tiger,
Some more homework for you....
Type in the address "Level 1, 34 - 36 Punt Road, WINDSOR, VIC, AUSTRALIA, 3181" into google.
You will see that there are quite a few companies operating out of the same offices including Cohiba, Altius, World Oil and Bisan.
There is also a private management company called "Alerion" which is a related party to Mr. M. Silman. (See page 10 of Bisan's half yearly report (28/2/1012). Each of the listed companies contracts with Alerion. It's in all of the reports.
From the last quarterly WLR paid $268,000 in "administration expenses" and earned $45,000 from selling oil!!!!
From the last quarterly Cohiba paid $240,000 in "administration expenses" and made $0 revenue!!!
Altius paid $558,000 in administration and made $0!!!
Do you think all of this has anything to do with Bisan's sudden interest in becoming a substantial shareholder in WLR!.
And now WLR has announced a capital raising when they have $551,000 in the bank and no plans to drill any more oil wells? What do you think they need the $2,500,000 for that they intend to raise?
Tiger,Some more homework for you....Type in the address "Level...
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