WestFire Energy Ltd T.WFE

WFE NAV

[2Clubs]

WFE seems to be trading at a 30% premium to NAV shown as $6.32 at year end. Have things really improved that much ? I can't see the justification for current price after looking at latest presentation and production progress todate in 2010
Most other juniors such as VRO are trading at a discount to NAV even with great results.
Can someone justify the current price ?
2Clubs

[dmacd]

My assessment will be simplistic, and those of you with production models will undoubtedly do this more accurately. I call this the quick and dirty review. First, let's discount the exploration locations (160 wells), so that leaves 500 development wells with new technology enabling increased exploitation. Second, WFE management have figured out how to exploit this