I've been involved in a lot of CSG takeovers in the past 4 years.
Day to day trading doesn't necessarily tell the whole story - both QGC and Arrow fell 30% - 40% in the months before the takeover offers came. Most brokers had a sell recommendation when Arrow was $3, then the takeover came over $5.
I think there is still a good chance of an offer - just depends upon the price that Petrochina (?) want to pay.
At $1/Gj per 2P reserves I calculate WCL at close to 80c/share.
Thats not bad when you can sell gas at $10+ on the export market. Even domestic prices are rising rapidly- the Federal Gv't has just confirmed they won't interfere in domestic prices.
WCL Price at posting:
40.5¢ Sentiment: LT Buy Disclosure: Held
