Ah, yes! The stock market is a strange beast. When he is not...

Ah, yes! The stock market is a strange beast. When he is not turning around and goring you he is truly a great buddy.
I was expecting the oil price to rise again today but it went down.

WBE share price has shown great strength for three sessions. 1 cent is so history now.

Today’s announcement said that the fracking was completed last Saturday. 30 hours for 46 fracks.

I was worried we might have to wait until mid week for it to be complete.

The next driver of the SP is the flowing of Rex 3. The announcement said that it would start in 48 hours. Is that 48 hours from the announcement being announced or is that from the time of the completion of fracking???
Since it took 36 hours to announce the completion of the fracking because of the weekend and the ASX being shut, which means by tomorrow morning 60 hours has elapsed since they finished fracking.

I’m half expecting another announcement tomorrow morning to say that the testing of Rex 3 has started . Gosh we have waited and waited and now, now has arrived.

Turning to more mundane matters I’m expecting Rex 3 to be a complete blast. A heap of gas, strong return of all the frack fluid and a oil flow close to 800 bopd eventually.
This will be the first company I have stayed in from discovery to development and I’m hoping it will be worth hanging in there for a few years of well drilling and a couple of wild cats with new fields to exploit.

We have already banged up against 1.5 cents today ( hey I’m in WA it is still today), if Rex 3 is as good as I expect or/and hope we will easily make 2.5 cents by Christmas.

Crazy good thing.

Saltbus