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HERE WE GO! "All sub-sea valves have been opened and are ready for the flow of oil, condensate and gas..."
.0085/.0089 up. Bouncing around nicely. Got to think that there is a lot of impatience out there.
It's all relative to your risk and how much cash you have. If I had $90k lying around I'd invest it here.
Agree. Hopefully some good action on Monday.
Thanks. A few changes on the ask.
Does L2 look much different than this morning?
The new Seaway pipeline should push WTI prices higher early next year once it ramps up flow rates. All good considering where $WGAS is positioned.
HOD close would be a nice way to finish the week.
Someone trying to entice a sell into a lower price?
Seems like $WGAS is in a very good position to re-test the 0.013 level early next week IMO.
Brent oil is near $114 and the Brent-WTI spread is close to $20 today. It would be nice to see that gap close once new pipelines open later this year.
The price movement and volume in the last couple of weeks definitely feels like investors are waiting for the imminent news.
Maybe waiting for imminent oil/gas revenues before closing D-Bar? Assuming D-Bar can provide some immediate revenue from already producing wells I would have thought VM-179 would follow once cash flow was established.
In the opinion of other board members here do you think that the oil and gas sector in general has seen a decline in investment in the past couple of years? If so, a change in sentiment towards oil and gas companies in the second half of 2012 would be perfectly timed with the proposed activities of $WGAS IMO>
Given that the $WGAS website post indicated less than 12 hours before start of initial pumping I would've thought a PR would be out on Monday IMO.
Oil and gas can run in the same pipe. It is then processed at the facility.
That's exactly right IMO.
When WGAS purchased Blackcat the following was written in the PSA:
At the Closing, Buyer shall pay the Purchase Price as follows:
a. To an account to be designated by Silvemere Energy PLC (“Silvermere”), in cash or immediately available funds, the cash sum of One Hundred Seventy-Five Thousand Dollars ($175,000); The amount so paid shall be credited toward payment of the Purchase Price hereunder;
http://www.sec.gov/Archives/edgar/data/1342643/000109690612000529/ex10-07.htm
I'd be interested to know what arrangements were in place between Blackcat and Silvermere before the purchase.
Right now I'm less concerned with the price and more concerned with the amount of money passing through on a daily basis. It is pretty small IMO even compared to other penny level OTC stocks.
A little patience followed by some nice sustained PR from Tony to bring in new money is what's needed here. The website updates might be keeping this board happy but we need a big uptick in $ vol from other investors. Tony has hinted at the advertising strategy on the $WGAS website comments and it isn't difficult to imagine that we'll this starting very soon. JMHO.
Exxon has a lot more money to go after bigger oil plays that are currently out of reach to WGAS. It doesn't mean that the smaller pickings aren't worth developing.
Let's not forget the price of natural gas too.
This will have been looked over in the past. Things that have changed are an improvement in data analysis and an increase in oil prices. Advances in software analysis have meant that plays that may previously have been considered uneconomic are now getting a new look over. Just my honest opinion.
In my opinion this is going to blow in 10, 9, 8, ...or maybe not. Perhaps an expert can give me a better opinion ; )
Is everyone on vacation? Where are my buyers?
IMO This won't pop until next week when we finally get the news that the pipes are in and liquids are flowing.
IMO D-Bar is a quick revenue generator that will allow WGAS to develop the larger potential of the VM-179 tract.
Also take a look through the SEC filings for details on the D-Bar purchase and sale agreement.
Look up D-Bar on Texas Railroad Commission for starters.
My 1.1M share is staying in my pocket for a good while yet.
This well should give WGAS $4-5 million based on the estimated quantities posted yesterday on the website. Obviously the pipe has some bearing on flow rate but the numbers above are what is important IMO.
Initial flow within 2 weeks! Great to see a start date for flow testing out in the press. Hopefully WGAS follow with a similar update.
28 bbl per mmcf at $90 per barrel gives a total of $37,800,000 based on 15BCF. At 10.35% that's just under $4mil for WGAS.
It is Saturday night. Unless something happened after lunchtime on Friday then it is still 228mil (see post #4215).
Nice to see nearly 150 followers on the board. I think there were less than 100 when I picked up on this 2 months back.
That was actually on the WGAS site. I don't know when they updated but there are three posts for 7/21, 7/22, and 7/23 with info and more pictures.
I've not found much on Dominion for web content.
That's right thanks for clarifying that. There are also different sand units to tap that can be further developed.
Previous PR stated end of July or early August for initial pre-development production. That still looks likely given the construction tasks that are remaining. We then have a period of well development and testing before full production starts late September or October.