"When are WGO going to come out from under STX marketing blanket. I’ve just read an article from SN STX MD saying that WGO are along for the ride .....
WGO management needs to come out with their own strategy and push their own agenda instead of being rolled into the STX hype"
WGO sold half of the asset to STX, and operatorship with it. WGO did come along for the ride as there was little chance the play would have been proven if STX didnt take control of it. Both companies are very lucky they found a world class asset here.
WGO have come up with their own strategy, which appears to be an increased focus on assets in Spain. I find it a strange move but maybe they are smarter than they look. Time will tell on that.
Meanwhile, I think WGO shareholders should be very happy that STX management rescued the day ! Sit back and think about where Petrel/WGO would be right now if STX didn't farm-in.
(note: I own both STX and WGO. WGO looks cheap, but I still think it is better that both companies merge. If not then STX will likely leave WGO behind as they prove up their other PB ground. Recent share price moves are suggesting the same).
IMO
WGO Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
