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18:04
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Originally posted by sjbomber:
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" However water in SE2 & 3 may go some way to confirming GWC theory over perched but with out having all the data in front of us it's all hypothetical." Toots, we've been thru all your hypotheticals many times and WE5 was subsequently drilled below the scots maybe GWC depth. As an aside, this was about the only thing the scots achieved in many years of sitting on 469...shooting their own project in the foot. They didn't know what was there (of course they hoped and dreamed), gave up operatorship (either too dumb to know the value there-in or knew they didn't possess the skills and/or were too lazy to progress the project). Their inabilities were further proved by the do nothing approach with WGO's northern permits - years of inactivity and then gave away operatorship & 50% ownership to Mitsui for a pittance after years of claiming how prospective it was and how stx's initial bid did not reflect its value. Like many here, I've lost hundreds of thousands of dollars in the past week, thankfully for me mine was paper profits - although I'd already counted it as mine - but I'm still marginally ahead given my average of circa 17c. I also held quite a few wgo and kept buying when they were 11-16c, not because I had faith in the scots but because I believed in the asset. The journey with stx is taking longer than I would prefer but I would rather have Stuart's energy & this BoD driving the way back than be relying on the scots to turn it around. It is clear that the Perth Basin geology is complex and there is more to learn about its idiosyncrasies (and mistakes have been made) but I'd appreciate if you could put your point scoring aside as they are based on unproved theories...and are the same thing over and over again. Perhaps read some of Gimo's old posts that debunked much of your speculation at the time or address the scots theory of blowing up the WE structure to access its gas. They were embarrassing on multiple levels. Btw, y ou'd imagine NSAI (and RISC who wgo also separately employed at the time) would've been privvy to "all the data" when the assessments were made FFS. Presumably Gina took this into account when she bought her 50% of WE.
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Bit like the deal STX did with Talon then sell 45% for circa $9m then buy it back for $100m great bit of work, no point in addressing the rest of your comment as to many inaccuracies just to say WGO sold for 36c let's see what STX finally go for.
(20min delay)