Given there will be a majority of CR from the big end, I don’t see flow rates due for another 1-2 weeks at the very least. I think the significant delays with the de-sanding caused WGO to play a hand they weren’t wanting to play - i highly doubt a CR at 22c was a preference. At the same time its the same strategy STX had with their CR. Get a fully funded CR with the promise of a significant return for investors. As soon as the CR closes I would expect the flow rate announcement.
WGO Price at posting:
24.5¢ Sentiment: None Disclosure: Held
