Member Info for MTSparky

The Post Office???...lol

I don't know, I guess they thought Guyane was going to be world class and reap huge rewards but they hit several dusters after the first discovery and the value plummeted. Maybe the BoD's thought WSX could be worth multiples of that offered value.

I think what they are saying to Milroy is, if you want WSX you're going to have to buy it. "Milroy Capital is attempting to gain control of the company and its available cash resources without making a general offer for the company." £10m Mr Milroy and I think you can have it !!! Sell Guyane £8m and you get £10m cash reserves....;o)))

£2.4m ?? approx

mmmmmmmm....the plot thickens. WSX do have some pretty good assets they just need some impetuous to get them moving. Juan de Nova looks pretty good with Global Petroleum as operator. Next to Madagascar oils discoveries and in the Mozambique channel. Global waiting for confirmation of licence renewal I believe then away we go there.

....these shares ?!?!?!?!?

....will do for me. Ready for next RNS which surely must come before the vote.

MH I can see a holding RNS coming out very soon. WSX have £2.4m cash I believe. The company is valued very low IMO.

....Milroy should buy Wessex. Make an offer £10m.

maybe that's the answer. If one of wants the company so bad they shall have to buy it ??

...very low. If someone offered £10m for company I think it would get accepted by shareholders.

I reckon there could be. Both parties desperate for control yet neither convincing shareholders...yet

I think basically he will buy a producing asset (or two) without using the dilution option. He needs to prove he has potential assets lined up for purchase. The last thing he will want is to take control then see the sp crash.

At least the company should be in better shape once Milroy and his crew takes over. Better than a month ago. Milroy needs to provide some detail of target assets. I can see him increasing his holding if he wins too. That should have a positive effect too. Still cheap at £6m. Milroy could buy the company.

...if Milroy wins the vote will the SP go up ?!?!?!

....don't think it's enough to get my vote. See what transpires between now and the vote. Milroy needs to come up with something positive himself IMO.

M/C = £6.7m WSX has £2m cash so all assets valued at ~£5m. Looks cheap to me. This Philippine asset could be worth ~£100m?? Guyane must have some value to Total or Tullow.

I can see Milroy buying more shares this week. The current BoD's and Cochran don't own that much of the voting rights so they may increase their stake too.

nm

15% of potential 112,000,000 barrels of oil in SC54A at $10 per barrel (in the ground) gives ~£100m. Not too shabby...;o)))) if successful and produced at say 15,000 barrels per day gives what annual income to Wessex of £20m?? This asset has produced at 20,000 barrels per day from one target but water was entering the reservoir from somewhere. So should have a high COS.