Bloody corona virus. China being shut down and the world putting all flights and trade on hold while they deal with it.
Means that if companies that use oil products, petroleum etc will have less demand and therefore an oversupply of oil on the market and the price takes a dive.
Hopefully they'll deal with the virus quicksmart and we can get on with this business. That said, we can rest in comfort that the 4C clearly showed an ALMOST SAME production level than previous quarter BUT under heavily constrained wells. I mean just imagine what production will look like next quarter when we have more wells and no constraints on the R1-3 ones.
Geez some people can be so damn short sighted they can't even see their toes in front on themselves. This is a solid Buy in my opinion. No debt. Solid management delivering results, oil field proven and with more resources to add, solid plan to get 100% ownership on fairly reasonable terms.
This is one of the best opportunities on the ASX at present. IMO
WBE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
