this company any good?

I arrived at this WCL 'cause i'm looking for another potential up & coming "star" the likes of ctp, dls, sxy, etc.

To summarise my findings:

1. WCL is described as an Australia-based gas explorer and producer but looking at their website i dont see much "exploring" going on. IMHO, pertinent to any successful exp/prod oil & gas co., & i would expect the same with CSG, is a busy exploration schedule. Am I not looking in the right places? open to being guided.

2. financially, i only bothered looking back to 2011 but yoy of growing losses. 2013 loss was $21.9M!!

3. From what i see, the upside for this stock stems from chance of
a) the current recent takeover bid of an otherwise complacent company that's purely survived hand to mouth off it's contract to supply gas via Gladstone with no intention to explore. a virtual "couch potato has-been".

b) the Gladstone's contract's renewal in 2015 with the chance of undisclosed price rise in the sales contract.

I am hoping that i'm wrong, anyone?

good luck holders.

arpC