Not just higher, exponentially...3x. The 'bid' today looks like a softener for a low ball in the 60's. Don't discount the strategic importance of WCL; proven production on tap close to Gladstone. Management implied 85c+ pre cap raising. Lots more to that story to play out. We are a long way away, but MEL are worth $2+ in my book. 6 CSG wells to come in the next 6 months has the potential to turn that 2500 of 3P into something fantastic, especially considering two of the core holes are going to be in the as yet 'un reserved' PEL 426.
wcl takeover who's next?, page-3
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Mkt cap ! $5.830M | |||
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|---|---|---|
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