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WGP - Westralian Gas and Power

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T

The Barbarian Investor

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Looking at Westralian Gas and Power Limited who are listing on the ASX on March 23rd.- Anyone else interested in this listing?

Gas is produced in Western Australia in abundance and Westralian Gas and Power appear set for a prosperous future, exploring and producing CSM Gas, which is a natural gas and will be distributed to the southern parts of Western Australia as yet an untapped market.

The Western Australian government recently released its petroleum gazette containing a detailed article on the potential of CSM and a list of the five most prospective areas in Western Australia for CSM exploration.

“They highlighted the areas with the best potential and we had the most prospective of them,” said Peter Briggs, Executive Chairman of the company.

Westralian hopes to replicate the success of Sydney Gas, who produces CSM gas from sites in the Hunter Valley of New South Wales. The similarities are striking, as Sydney Gas’ tenements are located close to the Hunter Valley’s famous vineyards, while Westralian is beginning their exploration near the Margaret River, home of one of Australia’s premier wine districts.

Click here for more information or a copy of the prospectus http://www.australianinvestor.com.au/link.asp?key=west
 
Re: Westralian Gas and Power Limited

Where exactly are they going to produce and sell the gas? I assmume that this is in an area which doesn't already have natural gas available?

:)
 
Re: WGP - Westralian Gas & Power

Interesting company though. Have hit oil on the first well they drilled and will be drilling another 6 wells in close proximity. The target depth of the wells takes about two weeks to drill, so it will only take a couple of months to complete the drill program. The next drill is underway and is only 600 meters from the first drill hole. Could be an interesting little punt.
 
Re: WGP - Westralian Gas & Power

jtb said:
and I was going to buy a million of the options last week:banghead:
Click to expand...

very sorry to hear that jtb, we can all understand how "the one that got away" feels like :(

anyway, just out of interest how did this one got on your radar last week?
 
Re: WGP - Westralian Gas & Power

Mousie said:
very sorry to hear that jtb, we can all understand how "the one that got away" feels like :(

anyway, just out of interest how did this one got on your radar last week?
Click to expand...

Appreciate the condolences mousie, cant win em all hey:) .
Have been watching it trend down from afar since listing.
Many years ago I worked in Nth Fremantle amidst the oil companies and remember seeing a drilling platform off port beach (stood out as you can imagine).
WGP have leases over these areas now.
Now I work in coal fired generation in Collie WA and used to be an exploration driller so I can appreciate the prospectivity of their exploration license covering the Collie coal fields (CBM being all the rage now).
The only thing that had been holding me back was the questionable reputation of one of the gents involved with the company:cautious:
Once the options came down to bargain territory I was prepared to jump in regardless due to the long lead time............................
However am trying to be a bit more professional with my stakes these days ( though still a spec focus) and put the cash into EMRO instead.
Mainly frustrated that I held onto INL against my better judgement and suffered very badly on opportunity loss.
I'm partial to oil and gas and thus regret 'diversified' cash that I would rather have 'in' but put outside the sector as insurance.
Had a win with TRF though so I'm being rather greedy.

Were you in ?

Cheers
 
Re: WGP - Westralian Gas & Power

jtb said:
Appreciate the condolences mousie, cant win em all hey:) .
Have been watching it trend down from afar since listing.
Many years ago I worked in Nth Fremantle amidst the oil companies and remember seeing a drilling platform off port beach (stood out as you can imagine).
WGP have leases over these areas now.
Now I work in coal fired generation in Collie WA and used to be an exploration driller so I can appreciate the prospectivity of their exploration license covering the Collie coal fields (CBM being all the rage now).
The only thing that had been holding me back was the questionable reputation of one of the gents involved with the company:cautious:
Once the options came down to bargain territory I was prepared to jump in regardless due to the long lead time............................
However am trying to be a bit more professional with my stakes these days ( though still a spec focus) and put the cash into EMRO instead.
Mainly frustrated that I held onto INL against my better judgement and suffered very badly on opportunity loss.
I'm partial to oil and gas and thus regret 'diversified' cash that I would rather have 'in' but put outside the sector as insurance.
Had a win with TRF though so I'm being rather greedy.

Were you in ?

Cheers
Click to expand...

That sure goes back a long way jtb, won't have seen the irony of it finding something in the US coming, that's for certain ;)

Was looking at the IPO many moons ago, not that the aforementioned gent scared me off, rather I rate others back then a better try

So as with all those I wished to have gathered at some point I look back and say to this one "hey, I'm glad I don't own you after all" :D

Then comes this blockbuster of an announcement and that someone was actually following what I had dismissed as a dog since listing, so just wondering why you'd so nearly missed out on them if you'd watched and wanted them

PS: Dunno much about the others you mentioned but TRF looks great IMO, so chin up bud :)
 
Re: WGP - Westralian Gas & Power

jtb said:
Now I work in coal fired generation in Collie WA and used to be an exploration driller so I can appreciate the prospectivity of their exploration license covering the Collie coal fields (CBM being all the rage now).Cheers
Click to expand...

Bit of useless information but seeing Collie mentioned reminded me of a chap I knew for a few years from Collie that lived in a caravan park near Yallingup.He always talked about going back there one day.20 years ago now.Still picture him.
 
Re: WGP - Westralian Gas & Power

jtb said:
Now I work in coal fired generation in Collie WA and used to be an exploration driller so I can appreciate the prospectivity of their exploration license covering the Collie coal fields (CBM being all the rage now).
Click to expand...
And here I was thinking that they really should get some acreage over the Collie area and they already had it! DOH!!!

But with that, and the new discovery, it is potentially a company making development...
 
Re: WGP - Westralian Gas & Power

Hope to see gushing thick black oil this week, and a nice gap up in share price when WGP trades again on Tuesday morning.;)
 
Re: WGP - Westralian Gas & Power

Awaiting follow-up drilling announcement this morning, might be worth placing WGP on your watch list.
 
Re: WGP - Westralian Gas & Power

Interesting announcement, struck oil again in their next well. Worth reading the latest announcement to get an understanding as to what the company is trying to achieve. Almost no overheads, 6 more wells to drill, which should take at most 6 weeks to drill. Anyone got any thoughts on this?
 
Re: WGP - Westralian Gas & Power

Looks like the gap is being filled now, this is a great sign of profit-taking and signals the next move should be up. We are awaiting more news on drill results.

6 wells to drill, over the coming 6 weeks, plenty of upside in this one.
 

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Re: WGP - Westralian Gas & Power

Up 19% in morning trade and finally broken the downward trend. Nice to see.

We still have another 6 more wells to drill over the coming 5 weeks, so I suspect further buying pressure.
 
Re: WGP - Westralian Gas & Power

Are we all ready for the bounce...Volume has dropped off and now buying is starting to occur.

Could we see a break-out next week with new drill results?
 
Re: WGP - Westralian Gas & Power

Westralian update on Kentucky oil project

Tuesday -April 24:Westralian Gas and Power Ltd (ASX code: WGP) reports the fourth load of oil from the Riddle-7 well in Kentucky, USA was delivered to the refinery on Friday April 20.

Total volume from Riddle-7 to date is around 400 barrels, being incidental oil production during drilling operations and during setting of the beam pump and production string.

The well has now been fitted with its beam pump, but has yet to be connected to electricity (connection expected in the next few days).

In the mean time it is flowing naturally to surface under reservoir pressure. "This is extremely encouraging for the expected production to occur using the beam pump," directors said.

Riddle-5 is being fitted with a beam pump and it is anticipated the well will be put on production by the end of the week.

This well is not producing oil to surface naturally because it is significantly higher above sea level than Riddle-7.

The Riddle-6 well site has now been prepared and permit to drill issued. The drill crew is due on site by Friday April 28 and it is expected to intersect the same producing horizons as Riddle-7 and 5.

Once the drill crew is released from Riddle-6 it will move to the Stockton lease to drill two seismically defined structures in the Murfreesboro Formation.

Westralian is now permitting a further four well locations on the Riddle lease to follow the drilling on the Stockton lease.
 
Re: WGP - Westralian Gas & Power

If the last two drills are anything to go by, I would be expecting results from the latest drilling very soon. i am also expecting the flow resuts from riddle 7 soon. Fingers crossed. good luck to holders.
 

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