WestFire Energy Ltd T.WFE

what am i missing?

[massaadm]

I do not understand the weakness in the price of WFE? Their exit rate is 50% higher than their avg Q2 production with a projected 60%+ oil weighting. Is it overvalued at this price? Why is the market ignoring it?

their last financing was at 8.00$/share in may, excellent Viking land base and no debt.

any ideas?

disclosure: I have a position @4.99.

[Stormtrooper123]

Look at the chart, This thing has been in a downtrend since April. If it breaks above the 50 day then it should be good to go. Lower Highs and Lower Lows are not good for business. This has a lot of potential upside but timing is everything

[massaadm]

you are right Storm, my mistake is stepping in without taking the charts into consideration. I could have had a better entry price. But I did choose WFE for its fundamentals, sooner or later increased production and reserves will have to be reflected in the share price and yes the upside on this is not bad at all!

[Stormtrooper123]

Nice breakout today on solid volume. This thing could run provided that the overall market doesn't go to sh*t which I think it may very soon. What do you like about the company? What is your price target?

[massaadm]

We should be getting an operational update soon on the last 19 wells to be drilled, 12 Viking oil and 7 heavy oil which usually are low risk. On top of that their costs should be coming down. All in all i expect a decent NR that should propel us back to 6.That is if the market doesn't crash on us. What is your exit price target?I would sleep on this one until February when their reserves are

[HotStuff101]

The boat.