is something coming?

Since WCL announced its inaugural Certified 3P reserves, everything has been very quiet.

I think something is about to happen soon. I have no knowledge if, or what that may be , but I am suspicious.

Originally WCL was expecting 3P res of around 150pj (WCL share), but instead they hit 211pj. A mighty good result.
But the SP went down, instead of up!

They again reiterated that the WCL share of GIIP was estimated to be 2,000BCF (roughly 2,000pj).
They are also planning to increase 3p res to 1,000pj "in near term".

1,000pj x 40c/gj = $400m = $3.63 p/share !!!!!!!

But in that announcement, they twice stated that they would increase their reserves by proving-up existing reserves, and also "seeking new CSG opportunities".

I will bet my shirt (if I still have it) that WCL will announce some sort of acquisition of new CSG acreage - soon.

Because they have been so quiet - I recknon they have got their head down, and bum up, working on something, whilst the drilling is progessing.

I like that number of $3.63 p/s - even if I have to wait 12 months to get there.

cheers