this is why we are all in wcl !!!

ASX/MEDIA RELEASE
19 March 2009

"WestSide’s recent gas-in-place estimates suggest that almost 3,000 billion cubic feet
of gas (bcf) could be contained within the coal seams in the northern precinct of ATP
688P.................
Recent analysis of the Moranbah and Rangal coal measures to the north and northeast
of the existing Tilbrook pilot have resulted in an increase in WestSide’s estimate
of gas-in-place in the northern section of the tenement to 2,950 bcf from the 306 bcf
previously identified at Tilbrook.
WestSide Chairman Angus Karoll said the new areas presented the Company with
an opportunity to increase its target gas reserves in the northern Bowen Basin.
“With almost 3 trillion cubic feet of gas-in-place in this part of the tenement, the 2009
program has the potential to confirm the value of this area,” he said."
******************************

Having BG as J/V partner gives BG the inside running, but Arrow is neighbour to WCL tenements also.

This is the first I have heard that the Northern Tilbrook area has 3,000 BCF of GIP - that's 1,500 BCF of GIP as WCL's share !!!!!!!!!!!!!!!!!!

If they prove up 50% into 3P reserves thats 750BCF for WCL of 3P - at 40c / GJ - that's $300m ! Assuming all options are exercised WCL will have about 110m shares. SO that's $2.72 per share !!!!!!!!!
AND THATS JUST THE NORTHERN PART OF TILBROOK.
WE STILL HAVE PARANUI TO TAKE INTO ACCOUNT.

With the funds from the exercise of the options, WCL will have plenty of cash to pursue proving-up the 3p reserves.

cheers