re: won & pierpont Thanks for that Pumper, much appreciated.As i...

re: won & pierpont Thanks for that Pumper, much appreciated.


As i see it Morgan and co still hold the same amount of shares after the change at the top.

Why would middlemas buy into it just before they go bust?

At these levels i just couldnt sell, not much point, its close enough to zero now lol

Maybe a 10-1 split bringing it back to 35mill/shares on issue then a rasing of say 50mill at 5c? Who would buy? unless maybe another round of drills and a more promising out look at puffin!

I made a heck of alot of money out of WON in the past, but got caught this time, still thought they had a shot but once the 1c placement was announced that was it.

One thing i dont understand with many oilers, and you can go over a number of them from listing at 20c is there burn rate, and there lack of concern for a proper income.

Instead of drilling themselves crazy, why not purchase producing fields, even if its a smaller percentage and have to pay a little extra for it, instead of those dreaded share issues.

I made alot out of EGO and look at them now(havent held any since 2000) in the same boat as WON, but they had 500bpd and never got the ball rolling with it, then a mineral company finds oil in one of there permits and they never act on it, rather going for the biggy(eclipse) and failing badly.


Think to look for with the oilers and i spose in any stock is the track record of the directors.... for example Sun Resources, great run little company, directors mad a fortune out of Basin Minerals, and the 4c divy was just beautiful for a little company, they dont go over board, have a small amount of shares on issue and are always a good trade leading up to a drill.

I think for WON the best thing is a reconstruction!

Cheers :-)