Given the rate at which the wells produce, there will need to be a huge number of wells drilled to get to the kind of production rates that have been discussed. The value is there but it going to take time not least because the funding requirement is so large.
The long term value is there but shareholders will need to be patient - may take two years to get meaningful positive cash flows.
Not surprised a director left to tender for the drilling. This is where the money is going to be in the short term.
WCL Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
