The WBE saga is quite a story. I too got totally roasted on the...

The WBE saga is quite a story. I too got totally roasted on the options.
The new management tried to raise $4.5M but only managed to raise $2.5M. I thought this would be the end of them. So I was totally surprised when they announced they would drill Rex 4, and they did.
They were open and transparent about all the numbers. They said drill and frack would cost $2M a piece. I was curious how this was going too happen.
I assume they tried to get some sort of credit to fund the frack but after some time passed they had to raise the funds by offering cheap shares.

A lot of Australian money has gone into developing the Wizard Lake oil field. We can argue the pros and cons of what took place, but nevertheless WBE gets to have another bite of the cherry because that Australian money built quality facilities that will support the development of the field in a cost effective manner.
They can drill 4 or 5 more Rex wells and harvest the oil and gas through the facilities and be more or less back on track with the original plan.

The old options died but the shares are currently available at .2 cents for as many as you could want which I think is a better deal than the old options were anyway. This is not vodka money, this is seriously being on the ground floor of a up and coming rising little oiler.

saltbus