Any takeover suitor will want STX first because they control the depo-centre of the basin now with their UIL ground as well as all of the data surrounding WE-2 drill (that is worth a lot). Also, They are operator at EP469 (worth a lot). The more likely thing, IMO, is they want STX and then drive WGO into a spending spiral. The essential play in any takeover is STX, not the other way around.
Having said that, I think WGO is super cheap and is worth a lot more than current SP (by multiples of current price), as is STX.
Tooter, you don't have much of any idea on so called liabilities, amongst other things.
Dharv,
They are already doing the 3D siesmic on their lower tenements in the PB and will do they same in the UIL tenements and likely EP469. That is already announced. I would guarantee that will all be done.
They will be asking WGO to fund 50% of EP469 along with 50% of the 2020 appraisal drilling costs. Hence why WGO is under pressure as they will need to raise another bunch of money soon too.
Note: I hold WGO as well as I think it is cheap ! But STX is the better play longer term
IMO
WGO Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
