re: News: WHL Energy secures $3.2m funding su... Summary:- $3.2m...

re: News: WHL Energy secures $3.2m funding su... Summary:

- $3.2m facility implemented to replaced Bergen arrangement because a) it is cheaper b) it is more flexible for WHL with regard to using capital for future development

- JOA with Ophir being signed today. This defines how the parties will work together and will open the door to signing 3D. This should be done in next few weeks, with data gathering starting in July.

- La Bella final data not yet received but analysis of what they have so far is looking better than expected "exploration upside is developing very well", "far more positive with the passing of time". More detail on intermediate data due early next week, final data due end of July.

- Assets prices quite low at the moment, so various development plans being considered which include picking up projects through acquisition, but also through corporate actions (takeovers, mergers, etc). Near term production is a key feature in what they are looking for.

So, my interpretation is little detail, but very positive tone. Seychelles has moved a little slower than we hoped, but in the context of what we were looking at 6 months ago that is small beer IMHO. La Bella sounds exciting with exploration upside, and we should have more explicit detail next week i.e. soon. Further development opportunities in the pipeline which could add further spice to the asset mix and corporate structure could change if development is via merger rather than straight purchase.

GLTA. DYOR.