WCL 0.00% 39.5¢ westside corporation limited

wcl & molopo and mungi results

  1. 8,589 Posts.
    lightbulb Created with Sketch. 2848
    did anyone have a read of the MPO presentation just released today?
    it detailed the results MPO is getting from some of their multi-lateral wells in Mungi.
    of course Mungi is right next door to Meridian.
    MPO is getting 1.1mmscfd and 1.8mmscfd fro two wells. the latest two wells have not yet come on stream. the last well they drilled was a triple seam triple well. (somehow they get 8 wells in that one?).

    WCL say that WCL is about to drill a 5 well multi lateral in Mreidian.
    so i think we should have good prospects to get similar results.

    can anyone tell me how many scfd equals one TJ?
    i am wondering how much scfd we need to produce to get to the 25tj target we need to meet the Anglo contract.

    Different issue:
    i know i have raised this before, but if buying Anglo share of Dawson made sense, how much more sense would it make if WCL bought out MPO interest in Mungi, and/or bought all the MPO CSG assets in QLD ????

    remember, Mitsui would buy 49% say for cash, and we could buy balance with scrip. That way MPO s/h would still have interrst in asset, and that asset would be much, much more valuable given economies of scale, meaningful reserves, contracts etc, proximity to Gladstone etc.
    whilst we WCL would get diluted, we would have shares in a much more valuable asset.

    cheers
 
watchlist Created with Sketch. Add WCL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.