valuation 6th month target 12c with ++++, page-13

ARE THE PERFORMANCE SHARES STILL ON??
If yes i'm sure they will want to close a deal this year
or alternatively have it trading at 10c+ IMO

250,000,000 performance shares that are convertible into ordinary shares in the capital of the Company on the sooner to occur of the following events (provided that one of the events occurs prior to 31 December 2012):

*WHL enters into one or more unconditional binding farmin agreements with one or more third parties where the farminee/s have an obligation to spend not less than 50% of the Work Commitment related to period two (including extensions);
or
* the VWAP of WHL’s shares as traded on ASX is 10 cents or more for 10 consecutive trading days.