Wentworth Share Discussion Threads

[cyman] 22/4/2012 19:02

exmooroil - yes that's great news, but it's offshore. Our problem at present appears to be onshore and I'm worried

[chrismez] 19/4/2012 12:59

Seems to me the MM's walked this down way too far given drilling has not been completed yet. They're gonna end up with egg on their faces as usual if WRL hits the good stuff in the last part of the drill. Come on WRL - time to show 'em.

[chrismez] 15/4/2012 21:58

Yep agree cyman - very high risk. Like putting it all on Black in a sense. If they drill down to 2700m and miss perhaps because of a down dip in the channel - the share price will fall to the low side. I'd be much happier if they were drilling down to 2800, 2900 or even 3000m. However, there have been shows on the way down to present levels which is perhaps cause for hope. If they had encountered zip all the way down I'd be far more pessimistic and the share price might already be at single digits. However, I'm going to play the risk and see what comes of it. Nothing I've posted should be taken to be advice - DYOR time and take your own decisions. GLA.

[cyman] 14/4/2012 18:59

If exmooroil and Chrismez are right then we will all be wishing we bought more at this level. for my part I will play safe for now and sit out the fluctuations to ascertain a direction for the share. I just hope we are not heading into single digit territory.... if so we could be stuck there for years

[chrismez] 14/4/2012 17:09

Elite - thanks for that AEX release - very interesting.

WRL have completed drills number 1 to 1606 metres and number 2 down to 2588 metres. No significant shows in the Plio or Mio.

The plan is to continue drilling to the original target depth of 2700 metres and carry out a full logging programme.

The drill from 2588m to 2700m will be key because AEX found their significant finds at these levels as you say in your post - the key 25m find being between 2660 and 2685.

Risk v reward ? Think I'll bag a few more of these at these low prices on the off chance that WRL hits big at the same depth as AEX.

cheers and thx again.

[cyman] 14/4/2012 13:35

It is unfortunate how the market chooses to punish companies so dramatically simply on the basis of a single (as yet uncompleted) drill report. Certainly a reduction in share price is to be anticipated but the halving of the value of the shares on one report is dramatic and IMO excessive. In any event this is the nature of what we have all voluntarily succumbed to, placing our money on these shares. Luckily I entered this with a long term view and still maintain that position. WRL is new to the market and the MM's spreads and general knowledge of the company is limited. I strongly recommend reading the materials on their website which gives a much more realistic impression of what they are doing and where they could be heading.

[chrismez] 10/4/2012 20:40

Dry yes but there were indicative sands so not a complete duster - cap off - and forget about it scenario. Also they have only drilled in one spot in their two prospects which together cover over 750sqkm - sure they may have got it wrong this time but can't believe sitting where they do that that's the end of that.

[billbyrne] 10/4/2012 20:35

RNS released this morning at 0700.

[steeplejack] 10/4/2012 15:35

Not sure, worth a bit of research.I think to strike a dry hole in this area is notable in itself!

[chrismez] 10/4/2012 13:53

Agree - Very odd re lack of RNS / PR from this lot.

scuse ignorance but, since we are sandwiched between Aminex and Tullow and BG and Ophir, does any one know at what depths they all made their recent discoveries - Plio, Mio or Oligo?

[steeplejack] 10/4/2012 10:28

Extraordinary company.First it gets in such a muddle it sells the equivalent of the crown jewels to Cove Energy and now it seems to be the notable disappointment along with its operator M&P in the bonanza land of East Africa.Some companies are lucky like Cairn of old and Ophir of new and some others are just plain "also rans".Just hope something turns up in the next few weeks of drilling i suppose.

[exmooroil] 10/4/2012 10:17

Here's the link from Oslo:

[funtimejonny] 02/4/2012 19:31

I agree. It did run up nicely recently (from about 55p), but seems to be overshadowed of late. Need the drill bit to do the talking i think!

[chrismez] 02/4/2012 13:39

With all the good news coming out of the region and all stocks going well its strange to see this slipping back - one would have thought that this little tiddler would be a prime takeover target with its on and offshore licenses. Tempted to grab a pile more at these prices.

[steeplejack] 29/3/2012 09:54

Drilling ongoing

[steeplejack] 26/3/2012 11:20

"We have experienced fairly normal delays but as we move deeper progress has been slower to account for dealing with higher pressures and the need to stringently control safety issues. I am not allowed to speculate on timing to make any announcement. We ask for your patience and we remain patient because that is all we can do right now."

Best regards,

Eric

This was in response to an enquiry by a member of the XtraInvestor website ,posted 22nd March.Response from Eric Fore,Wentworth.Can't be long now i guess.

[exmooroil] 13/3/2012 07:24

$13.5m safely gathered in from Tanesco for Wentworth's sale of its interest in the Mtwara Power Plant: