WGO 4.17% 11.5¢ warrego energy limited

Its a bit of a crazy world at present, and I see lots of delays...

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    Its a bit of a crazy world at present, and I see lots of delays to drilling programs coming up.

    Given the state border issues, the rig may not get here until 2H and after BPT is finished with it it may be very late in 2020 when it becomes available to the WE JV.

    What budget do they have for the well? I would have thought $15 is about right. BPT would drill it cheaper than that using the experienced local drilling engineers. SN needs to look at that.

    I don't agree that the merger is the only way to go. If STX wants 100% of the asset, they should pay for it. a 20% premium for a scrip bid is way low given the long history of these deals. If they want an agreed deal, with DD and Board agreement, then they need to think about a much sweeter offer. I get the market circumstances are tough right now, but history is on the side of a higher bid, IMHO.

    Cheers, AL
 
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