Westbridge Energy Corp. (TSX: V.WEB, Stock Forum) has commented on data and recent drilling results from the Wingat well in the Walvis Basin, offshore Namibia, and the insight it provides Westbridge regarding its licenses the Walvis basin.
On May 20th, 2013 this week, the results from drilling Wingat 1 were announced by a Brazilian exploration company.
“We believe that the results of the Wingat well are quite positive for license holders in the Walvis Basin,’’ commented Tosan Omatsola, CEO of Westbridge, which has oil and gas licenses in the Walvis Basin, covering five blocks over 21,448 square kilometres.
Westbridge was down 13% to 10 cent on Wednesday, leaving the company with a market cap of $7.9 million, based on 79.5 million shares outstanding. The 52-week range is 44 cents and 8 cents.