So the expected improvements to the operating margin, from the cost cutting measures they undertook and the increased winter gas rates, haven’t eventuated. One Rex well, that we have now, alone will not produce enough cash flow to cover the corporate overheads. Unlikely if any new wells will be drilled before the winter sets in November this year. Looks like the share price is going to languish in this range for quite some time now.
WBE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
