WCL 0.00% 39.5¢ westside corporation limited

Davmarc, The entire field has had a due diligence performed by...

  1. 926 Posts.
    Davmarc,

    The entire field has had a due diligence performed by RISC.

    Mike has stated the old drilling was second rate and the new drilling is expected to drill "in-seam". RISC's calculations were done, quoted by Mike on very "Conservative" flow rates.

    Another quote stated to me by Westside management "Anyone in Westside's data-room who has had any experience with gas field development will have no problem with the forward looking flow rate estimates."

    Funding has also been sought on the back of the RISC assessment and GLNG GSA which when you look at the most recent announcement, have a few options now open to Westside.

    Oh, don't forget GLNG have signed a GSA based on expectations of flow rates. One would think some time/expertise has gone into examining the possibilities of getting the gas out before entering into the GSA.

    The next value catalyst milestone will be drilling results. Remember, drilling is under way as we speak!

    So the the bush is very low risk as a ratio of upside value!
 
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