Melbourne Proactive Presentation, page-11

I am some what surprised that WBE is still labouring in the .9/1 cent range with its share price.
I suppose whilst we have had good (exceptional) news on flow rates for Rex2, everything thing is a bit constrained with the need for a gas pipeline and limits to production from the facilities not being able to cope with the columns of oil.

As always new questions arise.

How long will it take to plan and build the gas pipeline, and get the permits and approvals.
What new additions or changes to the facilities are envisaged and how long will these take to implement and at what costs.

Because the oil and gas industry is on the ropes in Alberta I expect costs will be competitive (cheap) and will be able to be commenced quickly.

I was expecting the share price would have been closer to 1.5 cents now rather than where it is.
The ratio of buyers to sellers is quite remarkable with three buyers to every seller.

I personally would like to hear how much money WBE has received and how much is still in the pipeline.

But maybe I have become a bit impatient now that I have excited STX and bought into TEG and some more WBE.

It is barely three weeks since Rex2 started producing and I do know that oil sold in July is not credited to WBE until the 28th of the next month. That’s the 28th of August.

So oil from Rex2 , produced in September (nearly all Rex2 oil) won’t be in WBE ‘s account until October 28th.

I suspect bills could well fall due in shorter time spans than this.

I suspect Messina has had a bugger of a time plotting costs of pipelines and tanks against likely time of arrival of oil money. Add to this the desire/ need to drill more Rex wells.

The current priority would be maximising production from Rex2 and Rex 1.

So looking forward to the start of drilling Rex 3. It is so quick. Barely 4 weeks from rig arrival and start of production.

Oh, another Question. I wonder if Rex 2 is still freeflowing, that is not under pump. To good to be true.

Great great prospects.

Saltbus