WEL Float, page-6

Derrickman, a bit lonely here in the WEL thread eh? I've been looking at WEL and PYM and a few other permian plays. Horrible time for WEL to list and like most deals that are hard to get away initially there appears to be some overhang. Combine that with a market that prefers an app to a well and its a tough sell. Still, outside of how well the founders of this company are rewarded with with performance rights etc they look pretty good. Experienced board, proven in finding and selling good plays. cash post raising of close to $18mil odd I think also puts them in a good spot. What we are all waiting for is some news on the Thomas Ranch well. I've been asking around and I'm told they are delaying news and completions until they acquire / option more acreage. A bit of a risk to drill first, get a sniff and then try and lease. But a sound strategy if you don't know what you will get. Still, love to see some news and some IPs from the first well. Plus, rather be in a play that has multiple stacked formations than a single EF style play right now. sprout.