Great news, this is very material to WGO intrinsic value.
211PJ booked reserves for WGO’s share of the in ground gas. Typical transactions are $1 to $1.1 per PJ Normalised WA Gas environment of $3.50. Today wa gas is nearing $7. This means any transaction should be at a higher multiple of reserves, say $1.50-1.80.
conservatively Wgo MC should be beyond $240m ($211m + cash). SP should be 20c at minimum.
WGO Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
