The 1 cent options expire in Aug 20. For them to be of value my view is that we need to drill two more successful Rex wells and for the market to recognise the Rex fields value (10 to 14 wells in total) if potential reserves of 6 to 10 million barrels of oil.
A successful Xanadu well would also help as it would add circa. 0.003 cents value to WBEs share price. Let’s hope they drill a well before then.
The issue is that WBE is on the nose and we need market sentiment for WBE to improve which will occur if the market believes that the BOD are trying to create value for shareholders rather than looking after themselves.
WBE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
