Thanks for the welcome X, glad I found this group, great insights and a positive vibe! I had a similar experience with OEDV, in way early at $1+, then they hit a dry hole in Columbia and it stayed under $.10 for 2-3 years. I picked up some crumbs at the bottom for 1-2 cents, but had no conviction to get more (bummer, since those became 200 baggers!). There was no plan. I was getting ready to take the tax deduction, and then they embarked on that stellar land grab in the Mississippian, pumped some black gold and it went meteoric.
Every oil play is different I guess, but in the end, tangible news and production drives the stock over time. OEDV of course has gone from $.70 to $2.40 and back to $.70 in a 10 week period, now consolidating for a while. Everyone is guessing what the current production rates are, that's why the boomerang moves, but OEDV actually makes some sense on a weekly and monthly chart. My point being that we can expect WGAS to be a volatile beast as it breaks out of its test tube, but if we are lucky enough to get some decent flow from I-1, then see the next phases come in, it will be a helluva Happy New Year!
I have total confidence in Tony Mason to get the best out of this company. That was a dagger when the lift boat pulled a Concordia, but he lay low until he had some real news. He's just juggling the PRs around some hopeful pre-pumping activities, but when the news gets juicier, it's all good. There may be some more dilution, it just takes a while to get the cash flow going and ramp up the borrowing to support future wells, but in the big picture it shouldn't matter that much. The hardest thing will probably be to hold through the first few big pops in PPS.
We've punched our tickets, I'm buckled in for the ride - Pump Baby Pump!!
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