OTCPK:WSRLF - Post by User
Comment by
muley1on Jan 28, 2010 11:24am
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Post# 16728178
RE: RE: Fewer Shares For Sale
RE: RE: Fewer Shares For SaleI personally feel we are in an exceptional position at this time. I do believe that there is very little downside to the stock from here. For one, the first well still has the potential for commercial production, this current well even it finds nothing else has considerable value and there is still another well to drill. But before we even think that, we are currently drilling through two choice zones, the Shiranish and the Qamchuga. If you look at their December Corporate presentation these are the zones that over 80% of their neighbours have found oil in. Since they are sitting on so much potential I would say the odds are higher than 90% that they will hit oil. They very well may be finished drilling now, however they need to Log the hole, put in the casing and then do the testing. This all takes time, the wait will be well worth it!