OTCPK:WSRLF - Post by User
Comment by
Coffiniteon Nov 06, 2009 5:05pm
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Post# 16462961
My Opinion
My OpinionThe share price is back to October 2008 levels when major banks were going under and the financial world as we knew it seemed to be nearing the end.
So what has changed since then? Well, the markets are back on track and recovering surely, but slowly. Kurdamir-1 was spud in May 2009, made a gas and condensate discovery in the Tertiary rocks recently, and is heading towards the main target in the Cretaceous rocks. So WZR is 1000-1600 meters from their target, and they are sitting with cash on hand to finish this well, and start another.
This picture does not look bad at all.
Alot of investors had way too high of expectations for oil to be in the Tertiary rocks, and did not want to wait until the first quarter of 2010 when the Cretaceous rocks will be reached. There were enough of these impatient investors to cause one of the biggest unjustified sell offs I have seen in a while. The impatient sellers triggered stop losses, which triggered more fear and selling, and here we are today.
Fast foward to January 2010 - I don't think we'll be sitting under $1. I'd say the speculation of a multibillion oil discovery in the main target in the Cretaceous will take us to at least $2. At this point the reward highly outweighs the risks.
GLTA