csg play. will bg make a t/o for wcl now., page-6

homey,
have a look at my earlier post made on 3/12/08, which details that the value of WCL could be worth $1.62 a share, if WCL can prove-up 3p reserves of 200pj next year.
That figure is based on 60c per gj x 200pj.

I think the PES t/over was done on around 55c /gj.

next year should be a good year, because they should be announcing reserves in the New year, and will have the new Schramm drill rig in operation.

I think the 200pj 3p reserves figure is net to WCL, and does not have regard to the potential of the Bald Hills and St martins blocks, which WCL seem to be very excited about.

I should add that the Directors spoke about acquisition by WCL of further CSM acreage in Qld in the near term.

Without a doubt, WCL is a sitting duck for a t/over by BG.

Disclosure: i hold WCL and PES - and have a big grin at the moment.

DYOR
cheers