# WCL - Westside Corporation



## avaramo (28 May 2008)

Does anyone have any news about WESTSIDE CORPORATION?  There somes to be little interest in this company in a currently hyped up segment of the energy sector.


----------



## TheAbyss (28 May 2008)

They have gone pretty hard and look to be taking a breather at the moment. Interesting one in that no idea how much 3p let alone 2p they may or may not have so at the highly speculative end of the CSG sector.

WCL has not established any gas reserves howvever they do have an estimated $21m in net cash which should enable them to evaluate its acreage and establish a reserve base.

■  spending $10m to earn 50% in three of SHG's Bowen Basin CSG projects
■ Indonesian JV with shareholder PT Bumi


----------



## grace (1 January 2009)

Starting to have a bit of a look at this one....

MC = $60 mill fully diluted (ord shares 74 mill + options 38.5 mill = 112.5mill @ 50cents)

Cash 30/9/08 $11.6mill (after cashburn of $4.5mill for qtr).

Fairly tightly held.

Own by farming in 50% of ATP 769P & ATP688P (via Sunshine Gas, now BG)

Release of restricted securities on 10 January 2009....mmm.....interesting!
(ordinary shares 13million, Mar 09 options 6.5mill + 800,000 incentive options).

No estimate of 2C given (contingent resources).  Reserves statement 1st Qtr 09 (would be looking to get the sp over 50c for options to be in the money).

Have enough cash to drill 09 with exercise of options I would think.

Flow rate on #6R in ATP769P 28000 standard cubic feet / day.  

I don't hold....any comments?


----------



## grace (1 January 2009)

This flow rate is not all that flash 28000 standard cubic feet / day.

I should use it in context against other csg producers.

28000 is 28 mcfd.  Qld Gas often flowed at 500 - 1000 mcfd 

Qld Gas probably do have the best flows in the world though....for csg (per Richard Cottee...although he was perhaps biased).

I recall the prospectus on this saying they were hoping to acheive 600 PJ (from memory, don't quote me).  At say 60c/GJ that is $360 mill worth....current Market cap $60 mill.

Some upside if reserves come in well in this qtr.


----------



## Dukey (1 January 2009)

Hi Grace - As I've said elsewhere (and been meaning to post here) - I've been having a bit of a look at WCL too.

As you say the flow rates they have reported have been a little underwhelming - and that hole seems to have had plenty of time to dewater etc.  the interesting thing for me is that they've drilled a few other exploration wells - maybe 3 or 4 more from memory - but, unless I've missed something, they have been very quiet on the reporting front since inital flows in july really...which leads me to wonder if the other holes aren't producing much gas either?
They only have a couple of farm-in tenements too - so I think 600PJ is a long way off... maybe impossible.
Of course I could be wrong about all this - they might be sitting on some good info. holding off on announcements until they are sitting pretty.... have any directors been buying lately?.... say in the last few months?

.. just checked that - Director Karoll bought 330000 listed options in October (cost him just $6k or so). 

... New director Mitchell holds 1.6 Mill ord shares... but date of purchase not stated ?

The options expiring in march which could be worth a punt - with BG and others probably still on the prowl for more gas. 
WCL share price certainly seem to be benefitting from the general CSG speculation at the moment... but they'll have to come up with the goods eventually... likewise for BUL - though they have a much greater area to play with!
I might yet be convinced to have a small punt on some options - hoping for some reserves to be certified as promised this qtr.


----------



## UPKA (18 March 2009)

has anyone noticed that there's a huge difference between the WCL spot and WCLO (Call option). Althought WCLO expires end of this month with 0.50 strike price, WCL spot is trading at 0.58. but WCLO is only trading at 0.025-0.030. be me, the theoretical price should be at least 0.08! of course due to the liquidity, you'll probably need to exercise the options to realise the gains, but still that's more than 3x of wat you pay on the options!


----------



## UPKA (27 March 2009)

WCL managed to raise $13m from it's exercised options. and now have plan in place with QGC to prove up to 3,000PJ (3 trillion cf) of gas reserve. although they have only two tenements in QLD, but they r huge almost counts for half of QGC's tenements in land mass.


----------



## YOUNG_TRADER (29 May 2009)

WCL is another CSG play that has caught my eye these last few weeks

They're 50:50 JV partner is BG (the group that has spent Billions doing CSG takeovers) 

They are in the process of doing lots of drilling and reserves should be forthcoming

They are well cashed up $25M-$28M

Another obvious take over play IMO, its late will do a full write up tomorrow sleep time now


----------



## Sean K (29 May 2009)

Looks intereting LN.

Look forward to your fundies on it.

Seems to be rising quite nicely since the bottom. 

Not much volume, must only have a few on issue.


----------



## YOUNG_TRADER (30 May 2009)

Hey guys, no write up yet from me but got some good info from a poster over on hotcopper named SLE, hope he doesnt mind me posting the article/info he found out about one of the directors




Recently joined WCL'S management line- up. Also in the current issue of BRW'S rich 200. One must wonder why Nathan MITCHELL chose WCL out of all the CSG plays to join??? Good read this edition of BRW. (I'm not in anyway associated with BRW). Here's MITCHELL'S profile from the WCL website:

Nathan Mitchell has a lifelong involvement with the drilling and resource exploration industry, throughout which time he has developed both skilled technical ability and commercial management expertise. 

As Chief Executive Officer of Mitchell Drilling for six years, prior to the sale of its Australian operations to Lucas Coal Technologies in August 2008, Nathan grew the company significantly - doubling its size twice in that time. Nathan also directed the company’s expansion to Indonesia and India, and more recently China, USA, and Zambia. As CEO of the privately-held Mitchell Energy Group, Nathan continues to mange these international drilling operations.

Nathan is a pioneer in the development of drilling techniques in the Coal Seam Gas (CSG) industry. His early identification of the potential of CSG saw him personally involved with the research and development of innovative drilling techniques, such as directional surface to inseam drilling methods which have now been widely adopted. Nathan has directly supervised the drilling of over 300 wells using this technique.

Nathan’s other interests focus on his passion for the continuing development of the international CSG industry through his international drilling businesses, ongoing contributions to the management of Lucas Mitchell Drilling and development of strategic alliances with industry participants.


----------



## grace (31 May 2009)

grace said:


> This flow rate is not all that flash 28000 standard cubic feet / day.
> 
> I should use it in context against other csg producers.
> 
> ...




I posted this on the 6R ATP769P Drill I think.  I didn't think it was all that flash.  Hope the new ones come up better!


----------



## YOUNG_TRADER (3 June 2009)

Looks like more good drilling results


_WestSide Corporation Ltd (ASX code WCL) advises that its Bald Hill #1 core well in ATP 688P in the northern Bowen Basin has confirmed the northern extension of the target coal seams in the Bald Hill area. These are the same coal seams as in the Tilbrook field which is 8 km south of the Bald Hill well with additional Fort Cooper Coal Measures. The Bald Hill well shows net coal in excess of 8 metres. _

Grace while it wont happen overnight I see serious takeover value in WCL especially since BG already have 50% of the leases

*At ATP 769 they have a GIP of 900BCF, assuming a 60% recovery thats 540 bcf 3P at $1 GJ/3P thats $540m or net $270m to WCL*


*At ATP 7688 they have a GIP of 3TCF, assuming a 60% recovery thats 1.8 tcf 3P at $1 GJ/3P thats $1800m or net $900m to WCL*

So assuming that theres a 60% conversion of GIP to 3P a takeover at $1 per GJ 3P would be placed at $1.17Billion, with 120M shares on issue thats almost $10 a share

*While I doubt BG will ever pay this much they may be prepared to pay say 50% of that = $5 a share, even 25% of that = $2.50 a share, so lots of upside from here*


----------



## YOUNG_TRADER (17 June 2009)

I have been a holder of WCL for a month or so now and have just doubled my position at 50c

I undertook alot of due diligence and analysis prior to committing more capital and heres why I decided to

*WCL 110m shares @ 50c Mkt Cap = $55m
Cash $25m *(note the last qtrly does not include options and placmeent funds, see the presentation a few days prior where cash was stated at $27m)

EV = $30m

*ATP 769 50% jv BG Group*This is the better of the 2 permits primarily because of its proximity to the Santos/petronas Gladstone and the BG/QGC Curtis LNG facilities

*GIP ranges from 1TCF down to 1000ms up to 3.3TCF down to 1500ms, with a 50% recovery factor and a 50% interest WCL can expect between 250BCF - 825BCF in Gas Reserves
At a 3P level this is worth $1/PJ = $250m - $825m = $2.25-$7.50* however this is assuming alot, it should be noted were these reserves 2P then you can double the value as 2P recieves roughly $2/PJ

*The intial Net Reserves Target by June (ie this month) is 72PJ at $1/PJ 3P - $2/PJ 2P = 65c-$1.30 WCL*
I will assume that the intial reserves being preliminary in nature will be 3P so 65c is the value per share I will attribute, but note if it is in fact 2P this figure doubles!

*
ATP 688 50% jv BG Group*
This appears to have a much much larger resource and is also not that far away from the Santos/petronas Gladstone and the BG/QGC Curtis LNG facilities

*GIP is 3TCF with 0 attributed to the Fort Cooper Coal Seams where AOE in their adjacent permit have been having great success, with a 50% recovery factor and a 50% interest WCL can expect between 750BCF 
At a 3P level this is worth $1/PJ = $750m = $6.80 *however this is assuming alot, it should be noted were these reserves 2P then you can double the value as 2P recieves roughly $2/PJ

*The intial Net Reserves Target by June (ie this month) is 80PJ at $1/PJ 3P - $2/PJ 2P = 70c-$1.40 WCL*
I will assume that the intial reserves being preliminary in nature will be 3P so 70c is the value per share I will attribute, but note if it is in fact 2P this figure doubles!

*
Valuation *
Cash $22m = 20c
ATP 769 72PJ's Net 3P = 65c
ATP 688 80PJ's Net 3P = 70c
*Target Value = $1.55c

Note if intial Reserves are 2P this valuation rises to $2.90*
*

 Conclusions *
*With $25m in the bank* the company won't need to raise funds for at least 12months given they share the bruden of costs with BG 50:50

*ATP 769 is stragically positioned* in terms of proximity to Gladstone and Curtis, and given BG already own 50% of it I suggest its a matter of whn not if they pounce

*The Reserves certification due for completion this month should highlight $1.50+ of value *with around $10 per share of GIP upside

Remember PES was once a 30c stock and finished up being taken out for $8.25c by you guessed it BG

Thoughts?


----------



## grace (17 June 2009)

YOUNG_TRADER said:


> I have been a holder of WCL for a month or so now and have just doubled my position at 50c
> 
> Remember PES was once a 30c stock and finished up being taken out for $8.25c by you guessed it BG
> 
> Thoughts?




YT, they are some amazing figures.  If you love GIP, then you should have a look at ECU - a real eye opener if GIP were to turn up at surface.

PES was the rose amongst then.    It certainly saved me from the GFC.

As for why BG haven't taken them out already, either they think they have it sewn up already (could be true) or, they are waiting on some decent flows (as I am).  Lets see what the future holds.


----------



## Sean K (23 June 2009)

Well, no matter what the figures, the market speaks. However, so few shares on issue, only a handful are actually chatting here. Significant breakdown, but if the numbers are right and CSG is a long term play, I suppose it must be placed in the long term fundamental buy and hold (hope) category. Can't disagree with YTs numbers, but the chart is diabolical. Clear breakdown in the green circle.


----------



## YOUNG_TRADER (23 June 2009)

Only 8 more days till June is over which means to things tax selling should end and more importnantly and more specific to WCL Reserve Certificates are due out

So far WCL is only valued on hopes and dreams, once Reserves are established it places the stock in a different light


Hindsight is always 20/20, will be interesting to see where WCL is in 6months

I will be surprised if BG hasn't made its move by then, the longer they wait the more value WCL will un-earth and the more expensive the eventual takeover will be


Grace I like GIP but prefer cheap EV per 2P 3P CSG plays such as MEL the clear standout, will be interesting to see what WCL trades at as an EV per reserves once out


----------



## YOUNG_TRADER (30 June 2009)

Maiden CSG resource released

Will crunch the number properly but to begin with here is an absolute low case scenario

You can't give the 3P a figure of less than 40c a PJ, thats the lowest transaction for 3P so using that we get

211PJ @ 40cPJ = $85m approx

Cash = $25m but say $20m

Total current value = $105m = 95c a share WCL

And this attributes ZERO value to the 1,680 PJ's of Gas In Place NET TO WCL, or a total 3360 PJ's of Gas In Place over the 2 permits

Should be at $1 now




and here are the 2 key points

1. “These reserves come from only a small area of WestSide’s holdings and the accuracy of the initial estimates provide additional confidence that WestSide’s share of gas in place throughout its acreage could be up to two trillion cubic feet of gas,” he said.

The maps themselves show just how small an area these reserves come from in comparison to WCL's total area


2. WestSide has booked 135 PJ of 3P gas reserves at its Paranui pilot in ATP769P. The result confirms WestSide’s expectations for the broader ATP769P, which it
estimates contains up to 505 bcf of gas in place (WestSide share) to a depth of 1,000m. Substantially higher quantities of gas in place could be accessed through
drilling to depths greater than 1,000m

STX are targetting CSG from "1,000 metres to 1,800 metres (potential as shallow as 900 metres)"

So really WCL is only scratching the surface in terms of its CSG potential as for now they haven't told us what "lies beneath" 1000m's


1 of 2 things will happen, 

either some brokers or Insto's will finally take note and get on board WCL, Wilson HTM would be my prefered backers as they are/were behind BOW COI SHG and QGC

or BG will pounce with a highily undervalued and opportunistic offer of $1


----------



## Nero64 (30 June 2009)

> 211PJ @ 40cPJ = $85m approx




Hi YT, 

Just wondering how you work this out. 

There is intrinsic value and perceived value. 

I have a BV of .11c


----------



## YOUNG_TRADER (30 June 2009)

211 PJ's at 40cents a PJ = $84.4m = Approx $85m

Not sure what you mean when you say intrinsic and percieved value

Just take a look at other CSG stocks, see the EV or Enterprise Value per GJ/PJ that they trade at then look at WCL, also look at what BG (WCL's 50% partner) has paid in the past when doing takeovers and look at what others have paid

The avg has been $1 GJ/PJ 3P reserves, I'm only using 40c a PJ which is at the low end of the takeover offers


----------



## YOUNG_TRADER (30 June 2009)

YOUNG_TRADER said:


> 211 PJ's at 40cents a PJ = $84.4m = Approx $85m
> 
> Not sure what you mean when you say intrinsic and percieved value
> 
> ...




Here is a quote from MEL's latest presentation re takeovers/acquistions of CSG companies/projects

"Values paid for these acquisitions have ranged from:
*$1.67-$4.91/GJ for 2P reserves*
*$0.67 -$1.88/GJ for 3P reserves*
These acquisitions provide an arm’s length benchmark value for Australian CSG assets
Values are influenced by a wide variety of factors including location, maturation profile, stage of development, and additional resources"
*
at 67c a GJ = 211 x 67c = $140m +$@5m cash = $1.50 a share value approx*


----------



## Sean K (1 July 2009)

Looks pretty compelling YT. Not sure why BG haven't taken them out. Perhaps just waiting to confirm the Ps? Surely this result gives them quite a bit of confidence.


----------



## YOUNG_TRADER (24 July 2009)

WCL has finally got some broker coverage from Patersons

The first of many I hope

Hopefully as ESG and other CSG stories reach fuller valuations more and more brokerage houses like Patersons move on to "the next big CSG play"




Westside Corporation Limited (WCL) $ 0.51

Recommendation: BUY

Analyst: Scott Simpson Tel: +61 8 9263 1679


--------------------------------------------------------------------------------

2009 Program to Deliver Further Reserves Definition

Investment Highlights



· We are initiating coverage on WCL with a BUY recommendation and a price target of $1.00/sh based on assessment of current reserves and development objectives and highlight this is speculative pending further demonstration of the coals productivity. WCL is an Australian based CSG explorer with two permits in the Bowen basin in QLD with established production pilots and is also assessing the CSG potential of a number of coal deposits in Indonesia. WCL is operator in the most prospective areas of each permit with a 50% interest shared with JV partner QGC (BG).

· Strategic assets located in proven productive areas. WCL has established production pilots at its Paranui (ATP 769P) and Tilbrook (ATP 688P) projects. Paranui is located just 5km west of the producing Dawson Valley gas fields and along the Surat to Gladstone pipeline corridor, immediately adjacent to local pipeline infrastructure. The Tilbrook production pilot is located north of the producing Moranbah field and essentially on top of the North Queensland pipeline, providing immediate access to domestic markets and longer term pricing exposure to CSG/LNG via the proposed Mornabah to Gladstone pipeline.

· Initial goals achieved with certified 3P reserves of 211PJ. WCL achieved a major milestone in June this year when it booked maiden gas reserves at Paranui and Tilbrook from the pilot production. The reserve booking was across a relatively small area of coal and gives further confidence to estimates of a further 1682PJ of gas in place net to WCL.

· 2009 drilling program to drive growth. WCL have kicked off its $18m program with a number of coreholes and recently completed its first horizontal production well at Tilbrook. This well, together with further production wells and coreholes will allow for booking of additional 3P and maiden 2P reserves during Q4 2009.

· Reserve targets of 250PJ of 2P and 1000PJ of 3P. WCL are seeking to achieve these targets in the near term via its current program, proving up new reserves and seeking further CSG opportunities.

· Fully funded to complete 2009 program with $24m in cash following recent $18m in capital raisings.


----------



## ands (25 July 2009)

Hey YT,

To me WCL and MEL are similiar stories. Small capped, some would say undiscovered companies with great potential upside. In your eyes which do you think has the greater upside. Obviously MEL has more proven resources, but as stated in the report WCL are hoping to have proven reserves of 250PJ of 2P and 1000PJ of 3P in the short term. WCL has greater upside in the short term, MEL might be more medium term? A takeover can also be on the cards, as consolidation seems to be continuing.

WCL = $57 million mkt cap
MEL = $91 million mkt cap

WCL = 211PJ of 3P
MEL = 2.3PJ of 1P, 247PJ of 2P, 1389PJ of 3P

I hold both.


----------



## Kipp (6 August 2009)

YOUNG_TRADER said:


> 211 PJ's at 40cents a PJ = $84.4m = Approx $85m




Hey YT,
I'm not 100% sure, put I think you mean 40c / GJ?  Rather than PJ?  Of course, 211PJ at 40c/PJ, would be around $84 in my head, Not a company I'd be keen to stick my money into!

If you'll forgive a very basic question, aren't *3P reserves more reliable than 2P*?  That was my interpretation according to the defination from Oil & Gas exploration See attached...
was that 3P was equal to the P90 [had only a 10% chance of being exceeded], as opposed to a 2P [50% chance of being exceeded].  Yet 2P reserves are worth more even though they are looser estimates? 

Thanks.


----------



## Sean K (6 August 2009)

By my understanding kipp,

A company may have 1P, 2P, and 3P reserves.

If a company has just 3P and no 1 or 2 P shored up, it means it just has the Possible GIP. So, the key is to get to the 1P, which is the Proven P.

3P simply adds up the 3Ps...


----------



## Kipp (6 August 2009)

kennas said:


> By my understanding kipp,
> 
> A company may have 1P, 2P, and 3P reserves.
> 
> ...




Thanks Kennas,
makes sense then... sort of like a 1/2P is more like a JORC?  But is there a statistical rationale behind it (as they are trying to describe with P10, P50s etc in the book?)


----------



## growing (21 August 2009)

OK, OK, I'm in on this one ... bought in today!

YT is right on the money in my opinion. I share his analysis as does Patterson's  This stock when compared to its peers should be sitting on     $1ish now .. if only based on Market Cap relative to development!

MEL are based in CASINO, NSW and are not in the exciting region WCL are right in the middle of! Also MEL's current Market Cap is around $79 Million where WCL is at around $53 Million as of today anyway...

New drilling program also recently announced for WCL and a very cashed up J.V Partner. I have bought today and I will hold tomorrow, thanks everyone for this thread especially YT!


----------



## YOUNG_TRADER (3 September 2009)

2 new permits with 21 TCF CSG potential in the Galillee Basin which is where AGL and Origin have been active paying big $$$$'s for permits with big reserves


I have no doubt now that this is the next PES/SHG/QGC

Got a nice holding and am happy to wait for a takeover offer from BG

Only a matter of when not if and how much


Oh and your welcome growing



http://www.theaustralian.news.com.au/business/story/0,28124,26021488-36418,00.html


WestSide targets new CSG frontier
Matt Chambers | September 03, 2009

Article from: The Australian
COAL seam gas ground and astronomical guestimates of potential reserves appear to go hand-in-hand.

The latest is from Brisbane junior WestSide , who has secured two exploration tenements in what’s being called the new frontier for Queensland CSG - the Galilee Basin.

*WestSide says the area could contain up to 21 trillion cubic feet of gas* in the Galilee, which is further from markets and lacks the infrastructure of the more established Bowen and Surat Basins.

To put that in perspective, the *$50 billion Gorgon project* to be built on Western Australia’s Barrow Island has reserves, said to be the nation’s biggest, of *40tcf*, which is about the same Santos reckons it could have in CSG in NSW’s Gunnedah Basin.

*Arrow Energy’s claims it could be sitting on 70tcf of CSG in Queensland.*

Of course, the difference is the CSG figures have not been proved up and there will be years of drilling before the trumpeted numbers can be tested.

WestSide’s Galilee gas is equidistant between the domestic Townsville and Mt Isa gas markets.

Shareholders will get to vote on the deal to buy the tenements off WestSide chairman Angus Karoll’s private company Nazara next month.

WestSide’s main focus is still on getting its 211 petajoules (about 200 billion cubic feet) of proven, probable and possible reserves in the Bowen Basin to market.

Which is why it is tipped as a likely buyer of AngloCoal’s CSG ground and infrastructure, which is right next door to WestSide’s Paranui ground and has been on the block since early in the year.

An announcement on the delayed sale, which analysts said could raise $200m, is expected soon, Anglo says.


----------



## grace (3 September 2009)

Yes it seems that it is not just YT that saw the announcement today.  A nice rise indeed.

Well it is frontier country as far as csg goes in a new basin.  Those in here should watch ECU closely as they are further advanced in the Gallilee than anyone else I can find.  Coals are deeper in the Gallilee - nearly at 1000 metres, and some deeper so there lies the risk.  I'm watching ECU with anticipation on Rocky Creek to see if Gallilee will be the goods or not.  Only time will tell.  Clive might build us a rail line at some stage and that would be nice.  Good luck to those holding!

As to who will be the next PES, my money would be on ESG or BOW, but that's just my opinion. (disclosure, I hold ESG only)


----------



## growing (9 September 2009)

grace said:


> Yes it seems that it is not just YT that saw the announcement today.  A nice rise indeed.
> 
> Well it is frontier country as far as csg goes in a new basin.  Those in here should watch ECU closely as they are further advanced in the Gallilee than anyone else I can find.  Coals are deeper in the Gallilee - nearly at 1000 metres, and some deeper so there lies the risk.  I'm watching ECU with anticipation on Rocky Creek to see if Gallilee will be the goods or not.  Only time will tell.  Clive might build us a rail line at some stage and that would be nice.  Good luck to those holding!
> 
> As to who will be the next PES, my money would be on ESG or BOW, but that's just my opinion. (disclosure, I hold ESG only)





ESG has such a huge market CAP right now though....

Market Capital 
$849 million 

Based on a share price of only $1.00 (it is at a low share price at the moment compared to where it has been in recent times)

PES @ $8 had a Market Cap of 900 Million Dollars !!

Current Market cap of Westside: 62 Million $$ at 53 cents per share -- MUCH more room to grow Share Price wise and very analagous to PES !! i.e PES had a Market cap of around the same as Westside at around 50-60 cents per share 

ESG is too diluted. (I do have ESG shares as well though so I don't want to jinx its current share price )

BOW is not bad but again has a 316 Million Dollar Market Cap at $1.48 .. My money is sitting firmly on WCL all the way to the takeover and/or possible bidding war.

Oh, I also noticed COI has a jump in its share price TODAY on an announcement of an award of LAND in the same BASIN as the WCL ZONE -- that Galilee Basin.... Interesting! COI has DOUBLE the Market Cap of WCL though


----------



## grace (10 September 2009)

growing said:


> ESG has such a huge market CAP right now though....
> 
> Market Capital
> $849 million
> ...




You must remember to compare apples with apples here.  PES would flow gas at 750 000 scfpd on some drills.  Up there with the best!  I noticed a drill on WCL started at 28 000.  Quite poor - although they are getting some success in other areas I think.  It is all about getting commercial flow rates.

ESG flows are very good too.  Started at 250 000, and after dewatering I think they are more than 500 000 (need to check to confirm, but from memory).  A nice reserve upgrade will come before Christmas too from new pilots that have been very good.

Watch for those flow rates and you will be on the money.  Do your calcs on PJ of 2P and 3P and then compare to Market Value.


----------



## Sean K (10 September 2009)

grace said:


> You must remember to compare apples with apples here.  PES would flow gas at 750 000 scfpd on some drills.  Up there with the best!  I noticed a drill on WCL started at 28 000.  Quite poor - although they are getting some success in other areas I think.  It is all about getting commercial flow rates.
> 
> ESG flows are very good too.  Started at 250 000, and after dewatering I think they are more than 500 000 (need to check to confirm, but from memory).  A nice reserve upgrade will come before Christmas too from new pilots that have been very good.
> 
> Watch for those flow rates and you will be on the money.  Do your calcs on PJ of 2P and 3P and then compare to Market Value.



grace, any idea on how much flow rates improve with time. Or is it all apples and oranges and pears? kennas


----------



## grace (10 September 2009)

kennas said:


> grace, any idea on how much flow rates improve with time. Or is it all apples and oranges and pears? kennas




If it flows at 28 000 scfd to start with, I don't think it would ever make it even with dewatering.  Need 300 000 scfd for commercial flow.

ESG seem to be able to double their flow rates with dewatering 250k to 500k.

Some like QGC and PES drills are like 750 000 on day one - beautiful in gas terms.

The coals in NSW need a little bit more encouragement it seems.  My unscientific opinion there.

I'm suspicious when ICN have production on flow, and don't make an announcement to the ASX on initial flow rates.  Why not?  Nothing to boast about yet I think.  Waiting for a couple of months of dewatering they say.  Whereas, ESG tell you upfront what's happening without dewatering.  Hope my suspician is proven wrong though!  Why haven't they given permeability figures in mD as well??  Sorry, off track.  Just something to take note of.


----------



## Sean K (10 September 2009)

grace said:


> If it flows at 28 000 scfd to start with, I don't think it would ever make it even with dewatering.  Need 300 000 scfd for commercial flow.



eeeek, that seems pretty damn ordinary! 

Any chance they drag up 300k anywhere, or is it just pure speculation?


----------



## swm79 (10 September 2009)

Did you guys read what the WPL Exec Don Voelte had to say about CSG in the Eureka Report?



> The key points in Voelte’s criticism of coal seam gas are technical and financial, starting with an observation that “the coal-seam guys are having a bit of difficulty with their economics.”
> 
> “What happened 18 months ago is that you had coal-seam euphoria,” he says. Some of that euphoria was created by “guys who knew what the game was”, and that game was to declare a large resource of coal seam gas “and get out”.
> 
> ...




definately something to think about.... makes me think CSG is no longer a long term play... would be nice to get out before the "herd" realises this

granted he has a vested interest but still, some interesting questions to ponder.


----------



## prawn_86 (10 September 2009)

I kind of agree. Personally i think it is too late to be getting on the CSG bandwagon. And i have always wondered why conventional gas plays get overlooked? They never really have been a 'hot' sector

A bit off topic, sorry


----------



## Sean K (10 September 2009)

I'm not sure.

WPL saying CSG is no good when they're not in it?

It's like GM commenting on electric cars 10 years ago.


----------



## grace (10 September 2009)

swm79 said:


> Did you guys read what the WPL Exec Don Voelte had to say about CSG in the Eureka Report?
> 
> 
> 
> ...




I'm not convinced about his comments.  Companies like BG sinking Billions into csg in recessionary times.  The US relies on csg for quite a bit of their gas.  I haven't studied the US in terms of csg, but would love to hear from anyone who has.

And Kennas, to be fair on WCL, they have proven up reserves from some commercial flows already from memory.  Just some of their acreage is suspicious.


----------



## swm79 (10 September 2009)

At the end of the questioning tho they said "will WPL NEVER get into CSG" and he said "never say never"

but with that i doubt you'd say "never"

i tend to agree tho. the questions he's raised are some of the questions i've had too... well, i cant say that i have his level of knowledge but issues like the number of active wells needed and the "dirty water"?... i think the costs of these things are going to be HUGE. 

Also, if this is just another smoke screen why hasnt a company like Arrow been taken over? 

STO purch Gunnedah/ESG for $0.74/GJ for 3P = $3.8B or AOE valuation of $5.17
STO purch Gunnedah/ESG for $285/GJ for 2P = $6.8B or AOE valuation of $9.42

BG purch Pure Energy for $0.41/GJ for 3P = $2.1B or AOE valuation of $2.98
BG purch Pure Energy for $2.57/GJ for 2P = $6.2B or AOE value of $8.49

AGL purch of Glouster/Molopo/AJ Lucas for $1.03/GJ for 3P = $5.2B or AOE $7.19
 AGL purch of Glouster/Molopo/AJ Lucas for $2.11/GJ for 2P = $5.1B or AOE $9.97

Plus the additional value in AOE’s power stations/agreements approx $570 mil or $0.77 per share 

Net cash $240m = $0.32 per share

Worst case AOE’s assets are worth $5.29 ($2.98 + $0.77 + $0.32 + international assets $1.22) 

Maybe that's who the Chinese are looking at kenna?


----------



## Kipp (15 September 2009)

grace said:


> If it flows at 28 000 scfd to start with, I don't think it would ever make it even with dewatering.  Need 300 000 scfd for commercial flow.




Encouraging annct just released, flow rates up to 240 000 scfd at Tilbrook, and increasing daily as dewatering continues.  Look like it may reach 300 yet 

http://www.asx.com.au/asxpdf/20090915/pdf/31kqp5bzhscrf3.pdf


----------



## Sean K (15 September 2009)

Kipp said:


> Encouraging annct just released, flow rates up to 240 000 scfd at Tilbrook, and increasing daily as dewatering continues.  Look like it may reach 300 yet
> 
> http://www.asx.com.au/asxpdf/20090915/pdf/31kqp5bzhscrf3.pdf



Thanks Kipp. Yes does look promising. I'd almost put these guys in the sin bin but I'll rethink that. 


15 September 2009

*Coal Seam Gas Flows Increasing Ahead of Target for WestSide*

WestSide Corporation Ltd (ASX code: WCL) is pleased to report that gas and water flows from its Tilbrook #8 horizontal coal seam gas (CSG) well are ahead of expectation.

Gas is now flowing at 240,000 standard cubic feet per day* (scfd) and increasing daily with a steady water rate of 400 barrels/day.

WestSide Chairman and acting-CEO Angus Karoll said the rapid increase in gas rates in recent weeks, after only two months of dewatering, has exceeded the Company’s expectations.

“It is anticipated that the gas flow rates will continue to climb to over 500,000 scf/d as dewatering continues,” he said.

“WestSide is targeting commercial flow rates to support the upgrade of some of its existing certified 3P gas reserves to 2P reserves in coming months as it prepares a Petroleum Lease application for the area.”

“This result is another step toward achieving WestSide’s broader strategy of commercialising known gas assets, identifying and proving up new reserves and seeking new CSG opportunities.”


----------



## growing (15 September 2009)

Just as SANTOS waits for higher reserves certification from ESG before making their move, BG Group is possibly holding out for the same reason on WCL ?


----------



## grace (15 September 2009)

Kipp said:


> Encouraging annct just released, flow rates up to 240 000 scfd at Tilbrook, and increasing daily as dewatering continues.  Look like it may reach 300 yet
> 
> http://www.asx.com.au/asxpdf/20090915/pdf/31kqp5bzhscrf3.pdf




Yes, that is more like it.  Didn't get much of a response from the market though.  A bit of profit taking on csg stocks at the moment it seems.  It has been a nice run of late.


----------



## growing (21 September 2009)

grace said:


> Yes, that is more like it.  Didn't get much of a response from the market though.  A bit of profit taking on csg stocks at the moment it seems.  It has been a nice run of late.




WCL is holding up strongly i think any kind of decent CSG rally will see this one rise strongly ... (purely my opinion of course)


----------



## Cloud9 (29 September 2009)

growing said:


> WCL is holding up strongly i think any kind of decent CSG rally will see this one rise strongly ... (purely my opinion of course)




just waiting on that 2P upgrade once Tillbrook flows at 500+ a day

look at how close they are to the pipeline, within 50m! for tillbrook 8 lateral



long as 50c holds, this expected news should give it a boost over 55c.


----------



## YOUNG_TRADER (30 September 2009)

got a nice surprise today with MEL getting a bit of a re-rating still more to be had imo

gives me faith that sometime soon the market will wake up to WCL and how undervalued it is


----------



## growing (23 October 2009)

I'm going to the AGM --- It's in Brisbane Woohoo !!

Might get some more insight who knows 

Doesn't seem to want to move even after that big catalyst segment on CSG


----------



## Cloud9 (27 October 2009)

well 50c truly broken and looking weak again

lets hope that new drilling gets the results we want and need!




can anyone comment on any TA formations? pennant?


----------



## johannlo (27 October 2009)

Its difficult to interpret V short term from individual stock techs on an all red day like today esp doubly so for energy + mining... just my 2c of course, nothing has changed FA wise as far as us retail mugs are aware of


----------



## Cloud9 (28 October 2009)

well, its testing the 45c lows today, not much suppport at all.



and agree, all the fundamentals havent changed


no debt
big JV partner
lots of cash still (nearly half of MC)
currently with big drill program
good QLD locations

but SP goes nowhere.


----------



## growing (29 October 2009)

Cloud9 said:


> well, its testing the 45c lows today, not much suppport at all.
> 
> 
> 
> ...





Lack of demand sees a share price which goes nowhere .. I watched an interview with some bigwig on Lateline business the other night who continues to return 20% per annum on his mutual fund where others return a lot less .. He talks of finding and holding onto shares of good value (such as this one) for 1-2 years and being somewhat disconnected from day to day trading .. Eventually the masses see the stock you hold and go "wait a sec" and demand increases along with the share price ...

So patience is the key .. very hard when we are all geared to want everything right now !!


----------



## Cloud9 (30 October 2009)

very true, but I now need that 20% to get back to even for a start

and I am forced to be patient with WCL at 44c!

down on the red day, and nothing on the big green



patience patience


----------



## Cloud9 (30 October 2009)

btw..who is enjoying the read they got in the post for the AMG?

the Deloitte report is very good reading and a well presented overview of the industry.

on page 55, I like the graph on past transactions, nice way to present it. 





lets get some 2P booked, and then my patience might be rewarded.


----------



## growing (7 November 2009)

Encountered 9 metres of coal and capped as a future producer ???

Shouldn't they book reserves there first


----------



## Sean K (7 November 2009)

growing said:


> Encountered 9 metres of coal and capped as a future producer ???
> 
> Shouldn't they book reserves there first



Yes. Very, very 

I'm running out of patience with this little pup. 

I'll let you know when I sell it, which will be a good buy signal.


----------



## growing (2 December 2009)

My father went to the AGM of this one.. He reported the CEO/Chairman fumbled his way through the meeting .. there were only 4 actual retail shareholders present.

These guys are taking a very conservative outlook with POSSIBLE decent reserve news coming in March next year.

Slow and steady on this one...

The new Galelio (I forgot the exact spelling) Basin has estimated gas DEEEEP underground which if they can get, will be exciting ....

COI has land right next door in the same basin 

sooo, patience, patience and more patience ..


----------



## Nero64 (7 December 2009)

I've been having a look at this stock since MEL's big run up. This one used to trade slightly above the latter.

Looking at it's chart it seems undervalued but if you dig deeper then maybe there is a reason. 

It has only 211PJ 3P certified and an additional 1682PJ identified. 

It is burning cash at 4-5 Mill per quarter with 20Mill left. Will it last as it starts drilling the new wells. 

It has plans to drill 16 wells in 2010. 

There is a potential 21000 PJ at Gaililee. 

It has only 110 Mill shares outstanding which is good. 

I'm a bit hesitant until it gets more reserves certified or it starts getting good results with the undrilled wells. There is potential but I can't see it moving too much higher without some good news. Might be worth holding long term and then pyramiding if anything good happens.


----------



## growing (10 December 2009)

Nero64 said:


> I've been having a look at this stock since MEL's big run up. This one used to trade slightly above the latter.
> 
> Looking at it's chart it seems undervalued but if you dig deeper then maybe there is a reason.
> 
> ...




Yes Nero, I was also attracted to the 110 Mill shares on issue coupled with a relatively small market cap .. I guess it gives them room to raise more capital if it is needed ... however the J.V with BG group (QGC) gives some intrinsic confidence ...

Some reserve upgrades would almost certainly see a rally in my opinion and a takeover is on the cards given the location and existing relationship with BG group.  After attending their AGM though it looks like there is an expectation of a reserves upgrade result around March 2010  But that is off the record ..


----------



## Wysiwyg (10 December 2009)

You would think with near 20 mil. in the bank and 50% of certified reserves with more to come and their potential Indo. CSG plays the price would be higher. But it isn't.


----------



## growing (11 December 2009)

Wysiwyg said:


> You would think with near 20 mil. in the bank and 50% of certified reserves with more to come and their potential Indo. CSG plays the price would be higher. But it isn't.




The whole CSG sector has died in the A*@se 

Except MEL but then MEL has dropped back a bit already ... there just doesn't seem to be the momentum there was before for some reason .. If any one person could accurately predict human behaviour including their buy/sell decisions that person would be a multi-trillionaire !! + some hehe


----------



## Wysiwyg (11 December 2009)

growing said:


> The whole CSG sector has died in the A*@se
> 
> Except MEL but then MEL has dropped back a bit already ... there just doesn't seem to be the momentum there was before for some reason .. If any one person could accurately predict human behaviour including their buy/sell decisions that person would be a multi-trillionaire !! + some hehe




They all come off during September mate. A month before the All Ordinaries Index. MEL was an exception as you noted.


----------



## johannlo (30 December 2009)

Youngtrader you still there? LOL

Our turn at last!
"Gas reserves of up to 62 PJ (1P), 212 PJ (2P) and 514 PJ (3P) to be acquired"

- 50-80 million cost quoted depending on % of rights
- cash on hand 20 million as per Sep quarterly
- est outflow for next quarter 3.9 million = remaining cash now should be around 16 million. So what are the financing arrangements going to be?

Any experienced gas punters care to comment?


----------



## growing (31 December 2009)

Share Dilutions to raise capital with possible Share Purchase Plan offers to "retail" investors. That would be my guess, whichever way you look at it though - your shares will be diluted ... Your assets will shoot up as well. The million dollar question is will the assets be worth significantly more than the share dilution ??

We have to wait for more details hence the share price taking a dive back down


----------



## Wysiwyg (31 December 2009)

growing said:


> Share Dilutions to raise capital with possible Share Purchase Plan offers to "retail" investors. That would be my guess, whichever way you look at it though - your shares will be diluted ... Your assets will shoot up as well. The million dollar question is will the assets be worth significantly more than the share dilution ??
> 
> We have to wait for more details hence the share price taking a dive back down



Looks like they are positioning for the LNG export business which according to LNG (whom have begun construction on the plant) will be ready for first export in 2012 and I assume a late 2012.

With the capital raising, don't they use a VWAP to work out the share issue price? Anyway I will take a guess at 150 million shares issued if the deal goes through. Watching, waiting


----------



## johannlo (31 December 2009)

Might be less if we find a partner (BG? or too neat?) also if we only get 50%.

Sounds like they've been lining this one up for awhile though, there are a lot of parties involved. 

Gossip on hotcopper is that MPO are unlikely to sell their tenements so it is highly feasible that we end up with only 50% (basicaly Anglo's share) and then partner w/ BG, that would be a good outcome, keeping costs and dilution to a minimum.


----------



## ands (31 December 2009)

Quote from the announcement:

"Westside intends to provide existing shareholders the opportunity to participate in the way of a pro-rata share issue. More details will be provided once there is certainty over ultimate interests to be acquired."

Maybe they saw how MEL screwed over their shareholders with their timing of a SPP (instead of a less dillutionary rights issue) and have decided to be good to us.


----------



## johannlo (31 December 2009)

OK very stupid question here: what is the difference between a rights issue and a SPP?

Is it that in a rights issue the shares already exist so no further dilution? If so who owns them in the first place?


----------



## ands (31 December 2009)

Rights Issue is when you are able to buy for example: 1 share for every 2 you own. eg Entitled to 100 shares if you own 200 shares.

SPP (Share Purchase Plan) is when you are allowed to purchase up to a certain value no matter how much of the stock you already own. For example: they may let you purchase up to $15,000 even if you own 1 share.

A Rights issue only causes more dillution to your holding if you don't take up your full entitlement. A rights issue also stops people buying the minimum $500 and then being allowed to buy as much through the SPP as someone who owns $50,000 worth of stock.


----------



## johannlo (31 December 2009)

Ah cool, I've participated in both but I always conflated the terms (ie I called both SPPs, but I do realise some SPPs - ie rights issues - restrict numbers based on existing stock held). 

Thanks for that. I always hated the 'own 500 buy up to 15k' rights issues, dilution city indeed. 

Happy NY to all holders and best of luck with this particular CSG long shot.


----------



## Dukey (4 January 2010)

It's a big plan for a small player isn't it? - comsec reports just 110Mill shares as of jun 09.

Market Cap = around 56$ Mill.
Could be a coup if they pull it off - but whats the Mitsui story?
anyone got the goods on them?
-e


----------



## growing (4 March 2010)

Anyone do the gas reserves figures based in this acquisition?? If we then also allow for dilution to raise capital for the purchase+more drilling etc ..


----------



## growing (20 March 2010)

Analysis or not, Westside is heading up strongly, I've been watching that StockAnxiety.com guy who seems to following it..

No technical data from him though


----------



## Dangerous (30 March 2010)

on a reserves certification basis WCL is the best CSG stock in QLD by a mile.  The dawson deal appears to be a winner, even allowing WCL to book 1P!  Comparing WCL, a $60m co, to BOW, a $400m company, it is clear to see that WCL is either grossly undervalued or BOW grossly overbought
*WCL* 
*1P* 30PJ                       
*2P* 206                      
*3P* 1880

*BOW* 
*2P*  114PJ
*3P* 2360

BOW appears to be the "darling stock" at the moment, so let us assume that it is fully priced.  Its 2P reserves are valued at a ridiculous $3.50GJ and its 3P at $0.16.  If you apply this metric to WCL it shows how under valued they are:


*2P* $3.50 *Mkt Cap* 722m  *$/s*$6.51
*3P* $0.16 *Mkt Cap* 318m  *$/s*$2.86

I understand that BOW drilling has shown some very good permeability in their tenements, but the other pro-WCL fact is that their 2P to 3P ratio is healthy.  Looking back at QGC 2006 announcements one can see that their ratio of certification classes was 1:3, e.g. 1P; 1PJ, 2P; 3PJ and 3P; 9PJ.  None of the small caps in 2010 are coming close to that ratio, but WCL has one of the healtheir ratios.

I should also point out that ICN and BUL have a combined market cap of $250m, that is a quarter of a billion dollars with not a single PJ certified.  Add to this the fact that WCL has one of the multi-nationals as a JV partner and once the Dawson transaction completes *WCL is buy, buy buy*


----------



## Nero64 (30 March 2010)

> I should also point out that ICN and BUL have a combined market cap of $250m, that is a quarter of a billion dollars with not a single PJ certified. Add to this the fact that WCL has one of the multi-nationals as a JV partner and once the Dawson transaction completes WCL is buy, buy buy




Yeah you can throw COI in the list as well. It was on business Sunday on the weekend and not one PJ certified. 

WCL was definetly a buy at 40c a few weeks back. Too bad I sold out at 43c  I prefer MEL at these prices.


----------



## Dangerous (31 March 2010)

Nero64 said:


> Yeah you can throw COI in the list as well. It was on business Sunday on the weekend and not one PJ certified.
> 
> WCL was definetly a buy at 40c a few weeks back. Too bad I sold out at 43c  I prefer MEL at these prices.




I believe any company, such as COI, which is in drilling in the Galillee is wasting their time.  I understand the coking coal deposits to be of a very high quality but limited by access to markets i.e. railways.

I have held MEL for a long time but am not 100% convinced that they will commercialize their fields on a large scale, let alone a medium size scale.  They believe they can produce up to 30TJd for the Richmond Valley Power Station.  I think it could be some time before they exceed such targets.  That said, I expect a big buyer of the stock to appear and further to that, they are surrounded by AOE who have indicated they had some results in the Clarence-Moreton basin that will lead to further exploration.  I have numerous postings on the MEL board, if you are interested in my opinion.


----------



## growing (7 April 2010)

growing said:


> Share Dilutions to raise capital with possible Share Purchase Plan offers to "retail" investors. That would be my guess, whichever way you look at it though - your shares will be diluted ... Your assets will shoot up as well. The million dollar question is will the assets be worth significantly more than the share dilution ??
> 
> We have to wait for more details hence the share price taking a dive back down




Haha, I'm going to quote myself from way, way back 

It might not be so much about assets gained for the dilution but who is the big wig buying in?? New Hope??? This obviously gives intrinsic value to WCL although the Share issue expanding from 110 mil to 250 mil -- is a HUUUUUUUUUUUUGE dilution .. Market CAP should be around 120 - 140 million at the end of this lot ?? Does that still make WCL good value ???

Maybe future reserves need to be priced in now?? I'm buying in at 45cents though, especially given the large price increase of today - I dont think the market will drive it back down to 45 cents in a hurry ?? What does everyone think ?


----------



## Dangerous (7 April 2010)

growing said:


> Maybe future reserves need to be priced in now?? I'm buying in at 45cents though, especially given the large price increase of today - I dont think the market will drive it back down to 45 cents in a hurry ?? What does everyone think ?




just halve the values i quoted previously- still an absolute winner.  STO, ORG, AOE and QGC have been only ones able to transition to producer.  That puts WCL in pretty good company.


Once that cash is in the bank they will be a pretty attractive target and if they survive alone they will be able to toll gas through Gladstone.  Risk is capability risk - will they be able transition to producer seamlessly?

I think floor will be $0.55 where NHC bought in.  Two things of interest:
1.  does not go ex-rights for a number of days - are they trying to drive share price up?  could back fire come 19 April?
2.  good to see retail investors looked after.  I wonder how the institutions feel about retail price of 45c?

I have big expectations of this stock based on fundamentals - * certified reserves and production!*


----------



## Dangerous (8 April 2010)

Set to open at 72c.  Those buying at this price have the right to buy at 45c.  By buying at $0.72 you cannot lose unless the share price were to drop to 27c (72-45). 

Interestingly were the share price to be 27c once the additional shares are issued, the mkt cap would be exactly that of the pre-issue capitalisation.


----------



## ands (8 April 2010)

If you bought at 72c your breakeven would be 58.5c. 

72-45=27. 27/2=13.5. 58.5 - 45 = 13.5c profit. 72 - 13.5c = 58.5c.


----------



## Dangerous (9 April 2010)

ands said:


> If you bought at 72c your breakeven would be 58.5c.
> 
> 72-45=27. 27/2=13.5. 58.5 - 45 = 13.5c profit. 72 - 13.5c = 58.5c.




Yeah of course it is - the average buy price is (72+45)/2=58.5.

Oops!

Will be very interesting to see price once share goes ex-right


----------



## growing (9 April 2010)

Dangerous said:


> Yeah of course it is - the average buy price is (72+45)/2=58.5.
> 
> Oops!
> 
> Will be very interesting to see price once share goes ex-right




Yep that is the million dollar question  But I hear you on the fundamentals.. gas PRODUCER !!! I read somewhere (I simply forget where - could have been that stock anxiety site) revenue is set to start at $16million per year as a worse case scenario and when you look at $30 Million being allocated to Dawson Creek alone, we can expect a nice ramp up on that figure ...

That revenue will provide funding for a LOT of wells .. Esp in the GB !!!


----------



## growing (16 April 2010)

Very happy with the trade at the moment considering it is ex .. .High of 70 cents  yesterday although it is back to 65 cents after the closing bell today. It still makes for an excellent return on a 45 cents rights issue -- I'm taking um my entire 1:1 rights


----------



## bluecheese101 (9 May 2010)

S/P has taken a pounding the last few days and is now below the rights issue offer price. I was ready to buy into it but i like to wait until almost the last day before paying up. Certainly paid off here.


----------



## growing (2 December 2010)

bluecheese101 said:


> S/P has taken a pounding the last few days and is now below the rights issue offer price. I was ready to buy into it but i like to wait until almost the last day before paying up. Certainly paid off here.




You're lucky.. It has been hovering around this price for what feels like eternity...


----------



## growing (22 April 2012)

Look at her fly now!!

No takeover under 90 cents please.


----------



## Country Lad (24 September 2013)

Interesting conflict between TA & FA.  Good looking chart, double bottom and an apparent break.  However, I can't see much all that much going for the company.  

Yet the market sentiment looks strong, so if that continues, I may play with it tomorrow.

Cheers
Country Lad


----------



## piggybank (1 October 2013)

Went into a trading halt today:- http://stocknessmonster.com/news-item?S=WCL&E=ASX&N=758727

Investor Presentation:- http://stocknessmonster.com/news-item?S=WCL&E=ASX&N=758326


----------



## piggybank (24 April 2014)

A daily P&F update.

View attachment 57707​


----------



## piggybank (28 April 2014)

An Updated Daily P&F Chart

​


----------



## System (19 September 2014)

On September 18th, 2014, Westside Corporation Limited (WCL) was removed from the ASX's official list following notification that Landbridge Energy Australia Pty Ltd intends to compulsorily acquire the Company.


----------

