The best what could happen for WRN to settle around £ 1.-- and then consolidate up to the day when a lot of things are becoming clearer. Otherwise the stock will come under attack again and those doing it are the Boys playing in another league. Just mark my words.
This board is strange. When somebody Comes out which doesn't fit the positive thinking a treat Comes out the he or she could be reported. Reporting is one Thing but then in Forums everybody is allowed to issue his or her free opinion. Being criticial does not mean a basher and being only bullish does not mean one is pumper. Having said this: If People all over hurra because of the CBS announcment, then they certainly did not do their homework. This deal of £ 12.5 Mio has Zero Value and it will have Zero Value as Long as CBS or WRN if merged, cannot come up with the 60 Mio plus Money. Because if it cannot be financed, CBS is worthless. I just recommend to read everything in connex with CBS. Conclusion: It can become bullish if and when either CBS or WRN can line up those funds - not before.
REF.FINANCING. There is only one solution to it. WRN is doing the financing for CBS but then they will have and get 100 % control. If this happens, then WRN will create value through revenues from the Oil and Gas sales and of course from the value of the underlying proven reserves. In short: It is WRN who will have to raise all those Millions in the years ahead and if I Interpret the presentation from CBS right, then we are talking about 30 Mio in the first 3 years and another 38 Mio shortly after those 3 years. A lot of Money, if you ask.
REF. FINANCING: On Friday, the stock took a beating and rightly so. Why: The announcment does not make sense. For their stake they must pay £ 12.5 Mio, however CBS has no Money and if CBS has no Money they cannot execute their business-plan and if they cannot execute their Business plan, they will lose the concessions and so on and so on. Further the Statement says, that CBS would get listed in 2015. How they want to get listed if they have no Money and as I said, if they have no Money, then the stake from WRN is worthless.