another research report 5.1c value 26c upside, page-7

The timing is probably the analyst giving his worst case or id expect by this date timing


I think the most important part of that report is this

"WHN is a company with limited financial resources and has sought partners to both shoulder the
financial burden and provide technical expertise. It was not able to complete a farm-out over the last
year. However, with the conversion of commitment terms from multiple to single well commitment and
collection of additional seismic, we believe that WHN is well placed to achieve a farm-out on favourable
terms. Success in this endeavour could result in a significant market re-rating."


The single vs previous multi well commitment requirement is a game changer for WHN imo


I dont think Ive ever seen a farmout which was a locked in multi commitment

Ive always seen the 1+1 or 1+1+1 type options for Oil and Gas