rbgould2008 - A good concise summary!All points very relevant...

rbgould2008 - A good concise summary!

All points very relevant and nothing much to disagree with, or improve upon there.

The only thing I would perhaps add to your list, is that a number of professional investment news letters and reports are continuing to recommend, or re-recommend WHL as a BUY very recently - up to around 5.5 cents! That says a fair bit to me re short to medium term events.

Trading volume has also picked up a lot recently and there seems to be a renewed focus on WHL by the market.

Of the points you listed, personally I feel the Palta 1 drill by SHELL, probably begining early June and completion by 20th August - as per previous discussion on these threads - could give things a major boost!

Like you, I think the Seychelles farm out could still very easily occur by June 30th.

Success with the Seychelles deal, including cash, changes everything!
Should SHELL's PALTA 1 drill ALSO deliver positive reults around August 20th, then we really are going to experience a meaningful re-rating. Add to that LA BELLA / Otway Basin and who knows what else is brewing / to be announced, then 2012 could deliver excellent results for WHL holders!

The following is an ultra brief summary, based on reports/recommendations and previous discussion etc;

* Success with Seychelles Farmout and cash - target 16cps.
* PALTA 1 success - Target Estimate - add 50cps.
* Otway/LA BELLA - upside valuation - add 24cps.

That's without anything else that pops up to add to the above! The above is well on the way to achieving the longer term $1.00 per share referred to in some recommendations.

In conclusion, I think the period June to August this year, could see a Frenzy of interest in WHL - so now is probably a good entry point which is consistent with recommendations thus far.