Ann: First Acquisition for 2018, page-5

no small junior Aussie Co has ever made this kinda investment in the US and Canada and made any kind of decent profit - it staggers me why any Co thinks they can - ego, laziness - ie easy to get in and make out like your producing and it is all going to happen - well it doesnt, and often the onerous leasing rights to the land owner are rarely noted, paying back the cost of getting in, the low % of low production means costs always a problem.
Xanadu and Xanadu only is what will make this Co into a serious producer. The move to Canada before Xanadu was a mistake, joining a few mates over there - bit of fun, nice skiing over there i am told but was and never is going to make WBE anything - you watch the accounts after a year and the following year- if u can decipher the reality, especially with more acquisitions coming along will make it difficult to assess.
They were in the right place with the Perth Basin and it is here where they need to concentrate, and should have picked up more ground or JV in exploring for conventional oil and gas. The ground to the north of and west of Xanadu - PGY/KEY would have been a better move with the money they got from the Gov - maybe a 20% interest for more seismic over the prospects.

Xanadu and Perth Basin - Canada - waste of time and precious money