Winchester Energy Ltd. Stock Analysis WEL.AX

Winchester Energy Ltd. engages in the acquisition, exploration and development of oil and natural gas properties. The company is headquartered in Perth, Western Australia. The company went IPO on 2014-09-23. The company controls over 2,600 acres in the Permian Basin, producing predominantly from the Strawn Formation but also from the Ellenburger and Cisco Formations. The company operates 26 wells and has interests in another 10 non-operating wells. Its projects include Nolan County and Jocelyn - Varn. The East Permian Basin contains a number of stacked oil and gas reservoirs and its leased acreage in Nolan County has significant oil resource potential across a host of historically productive formations, such as the Fry/Strawn Sands as well as the thick Penn Carbonate, Wolfcamp 'D' organic shales, Crystal Falls (Canyon), and Cisco formations. The firm has a 70% working interest in the Jocelyn - Varn waterflood project in Taylor County, Texas. The project is located 18 miles to the east of its Nolan County acreage.