News: WBE Whitebark Energy To Raise Up To $1.98 Million 1 For 2 Renounceable Rights Issue At 0.4..., page-2

I have been disappointed that there is such an overwhelming degree of negativity on WBE threads.
If nothing else we do have 15% of Xanadu.

I was majorly surprised a couple of days ago when I got my compulsory acquisition of the shares in the private company where TSV’s Canadian leases ended up. Calima CE1.
When the deed happened Calima shares were 3.3. Cents. Now they are 5.5 cents.
Reading the various info. More surprises.

Calima seems to be run by very highly regarded and successful people.
The leases accumulated by the old TSV are also held in high regard.
So much so they are valued at $4,400 per acre because they hold high liquid content gas to the tune of hundreds of millions of barrels of oil equivalents (gas plus condensate etc).

Blew me away.

That ignored and nothing private company is now 47,000 shares in Calima at 5.5 cents about two and a half grand.

WHAT, quick pinch me.

The shares obviously haven’t arrived yet so there is a good chance I’ve made a mistake somewhere. Like no such number, no such zone.

From my reading Calima looks like a real keeper. Drilling in December, heap of money in the bank and a pipeline planned. Not to mention the drilling rights on tens of thousands of acres are worth multiples of the the current market capitalisation of the company.

Probably the real zinger is WBE’s land holdings in Canada are probably worth many times the current pathetic market cap also.
With the current high oil price and rising, I am optimistic that cash flow from the Canadian adventures may turn out to be a bit awesome.

I am looking forward to the next several quarterlies to see how much positive cash flow eventuates.
I have been quite negative about all the money that has been sunk into Canadian leases but maybe it will all turn out for the good.

Smile,
Give success a chance and let’s have more positivity.

Saltbus