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No I haven't either but some one has suggested that Baillieu stockbroking has apparently given a $6.16 figure! Rough calculations I've used and it really is dependent on flow rates costings etc. and the figures presented by WCL as their 2P and 3P estimates, given shares on issue anywhere from $2.50 to $5.00 conservatively.

 

P.S. Last night's after hour announcement again highlights how big this Company could be and I'm now thinking it's not unreasonable to put it into or heading up there with some of my old time very profitable CSG favorites!! :biggrin::biggrin:

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Beauty about it is that if they do come up with the figures and last night's announcement reads very well then with less shares on issue than what PES had it could make this a very interesting t/o proposition!?

 

The only thing with WCL'S and many other remaining CSG prospects is the flow rates. Very hard to match PES in this instance as they were huge! :biggrin:

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Wanted clarification on the valuation so had a look on Hot Copper. Found a recent post stating the following:

re: baillieu stockbrokers say today $6.16 next (noellyn)

 

According to the morning brief note, it stated as follows:

 

12 mth target 95c

 

"In their current stage of development we value WCL on a GIP basis @ 83 - 135cps.

 

In the event that Paruni and Tilbrook deliver individual rates in excess of 500k cubic feet per day and eventually achieve 2P reserve targets the company has in our view a max. upside valuation range of $6.16 - $9.45.

 

However, we do caution that it will take 2-3 years of exploration success to achieve these stretch targets.

 

Exploration failure would lead to a share price outcome well below our valuation range.

 

Cheers

salts (son) :)

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thanks crooky, i thought that was the case.

 

I sent an email to Damian (CFO Westside) asking if they were in fact hoping for some 2P certification before last quarter's end.

 

I get the feeling that the certification was rushed through given that they had delayed certification already once before.

 

He has not responded.

 

It would be nice to receive news in the next month or so on additional 3P certification and maybe some 2P.

 

salts

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  • 3 weeks later...

i'd go along with that Hdw.. and the selling seems to have levelled the sp at the quite recently exercised options price..

 

It is very quiet in terms of news and trading activity on this stock ,calm before the storm I hope.

 

At some point we have to hear about either gas contents or whatever it is WCL is or is not doing re Anglo assets.

By months end would be my guess.

 

One good thing (beyond the impetus) about the world economy loosening up is there is suddenly a motivation to move fast on deals that might otherwise have sat in limbo. If a BG or Shell thinks oil will definitely head back to $90 a barrel then I don't think they are going to wait for gas prices to recover before they jump upon the last of the csg minnows in Qld. Kogas entering the picture shouldn't hurt.

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