Rex, PLX, and the rating that's not too complex : 'Buy', page-6

It looks perhaps like the market had already factored in moderate success at Rex. Given the cost of the well and pay back period, it's not a very large increase, but I agree it is a step in the right direction. I am interested in saltbus's/people's thoughts on the next price catalysts for WBE?   I was listening to the web seminar from a little while ago and took some notes:

> WBE is the only company to make money from Xanadu so far. Tookbat and ball and left Western Australia due to slow regulatory environment.Peers left behind in WA will struggle this year – limited ability to progressprojects, access limited/dwindling capital, limited / no updates to shareholders.  It would have been a tough decision(to sell one of their best assets), but this does show the company has some initiative?

> a modest financial position in Canada after CR and sale of xanadu (just under break even production (including admin costs)?), but foundationis most useful for leverage/access to other plays, and company growth. Aiming to have 1000b per year. Currently 300– 50 to WBE, plus 50-100 (from last well?).  So willneed to acquire/ buy / borrow money for access to 600 barrels. Looking at oil,talking to lenders.
> Got the impression WBE would much rather be operating wells. So perhaps we'll see some cut through on that.
> Very vague on time-frames around drilling a second well - so an acquisition before then?
> @19:10 a bit of adlib commentary on the cost of doing business in w.a: We will be monitising (the Rex well) when everyone (inW.A) is “munching on their crayfish” over Christmas (Xanadu delays).

> sales in last quarterly reflect poorer, summertime gas prices, next quarterly may have a slight increase representative of winter sales.

 
So.. should we be expecting an acquisition at some point soon? I'd hate to see WBE turn into another piece of shareholder driftwood (like GGE, for example). They do seem energised (the webinar, for example, demonstrates an interest in keeping shareholders informed)?