Still looking for circa 60% upside to where we are currently. Plus there is the value of future growth with the extra funding supporting further drills and expansion of bopd production targets.
No wonder the sophs and family offices are all over this. The heavily bid $5m CR is quite telling. WTI also in a rising trend due to increasing demand in US, so the peices of the puzzle are coming together well for WBE.
I can see consolidation of SOI down the line. That's probably the only downside here - too much SOI. That said, this is an acretive raise and a significant shift (to the positive) in company fundamentals. It's not often you get a CR that supports true growth - but here it is.
Most CRs I see are for paying director fees and just keeping the lights on. Not here though.
Well done.
WBE Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
