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35.5¢ warrego energy limited

WGO apparently unpaid research has a target price of 70c and yet...

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oz_money

316 Posts.

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13/05/21

14:40

Post #: 53153499
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Originally posted by Autosime: ↑

Warrego Energy Limited (WGO) - Substantial onshore Australian gas opportunity Warrego Energy (WGO) is an oil and gas company with a focus on onshore exploration within the Perth Basin. In joint venture with STX (50%, operator), the West Erregulla (WE) gas discovery in 2019, was the largest onshore gas discovery in Australia in 40 years, providing WGO with a solid platform to grow its WA gas business. Within a space of 18 months, the WGO management team has moved to unlock the value in this asset, securing a material long term gas contract for 155PJ over 10 years with Alcoa, WA’s largest gas consumer. We see significant additional value being generated as drilling progresses, resources are updated, reserves are booked and the strategic nature of this large onshore gas asset is realised by the market. We also note only 1/3 of the WE block has had seismic shot over it, providing future potential for additional gas opportunities. We initiate coverage with a BUY and A$0.70/sh PT, underpinned by the Phase 1 gas development of 80TJ/d.

From one a broker that has been one of StXs long term supporters

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WGO apparently unpaid research has a target price of 70c and yet it is still 25c. Maybe Byron has a reason to complain and be upset with WGO sp.

WGO Price at posting: 25.0¢ Sentiment: Hold Disclosure: Held
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