Club Mulgoa

Monday, October 15, 2012

WHN

How nice it is to make a good announcement without having to spend a single cent!  Shell is drilling very nearby in offshore WA; just spudded on last Sunday.  And the gas field is expected to straddle into WHN's tenement (1/3 share with 2 other stocks).  So if Shell gets a gas hit, the WHN will benefit greatly.  It is very expensive to drill there at  >1km deep water.

This is a high risk stock but the prospect is excellent.  Its true value can only be confirmed if gas or oil is found in huge quantity, not piddly little puddle or pocket.  Otherwise, it is worth less than a piece of toilet paper.

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