For better or worse, I grabbed some shares today. I see WGO as a very simple play. Management want a payout and are happy to let the stock flounder... under the guise of marketing the gas etc. Probably trying to get a bid from Min Res as we speak. But of course, we need the SP to flop around for a while before any bids are thrown, otherwise, it will be hard for the board to give it the nod. While its not a nice game, I guess I am simply going to try and take advantage of it. While STX has the fairway etc, its not been drilled out, whist the current discovery has, and will be the focus for this year. Plus the coming 3D seismic will likely show another two large targets within the permit.
STX has stated this gas is going to be a market leader... well, you can buy half of it for peanuts and get a very strong partner in STX. Not easy to buy with the current sentiment, but... when STX view the discovery as worth around $750m minimum, a bargain is a bargain.
Good luck to all holders.
WGO Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
