1WGA J1346.5 - 6255 is a ROSAT X-ray source found within the radio lobes of the supernova remnant ( SNR ) G309.2 - 00.6 . This source also appears to coincide with the bright and early-type star HD 119682 , which is in the middle of the galactic open cluster NGC 5281 . The radio morphology of the remnant , consisting of two brightened and distorted arcs of emission on opposite sides of the 1WGA J1346.5 - 6255 source and of a jet-like feature and break in the shell , led to the suggestion that 1WGA J1346.5 - 6255/G309.2 - 00.6 is a young analog of the microquasar SS 433 powering the W50 nebula . This motivated us to study this source at X-ray and optical wavelengths . We here present new Chandra observations of 1WGA J1346.5 - 6255 , archival XMM-Newton observations of G309.2 - 00.6 , and optical spectroscopic observations of HD 119682 , in order to search for X-ray jets from 1WGA J1346.5 - 6255 , study its association with the SNR , and test for whether HD 119682 represents its optical counterpart . We do not find evidence for jets from 1WGA J1346.5 - 6255 down to an unabsorbed flux of 2.6 \times 10 ^ { -13 } ergs cm ^ { -2 } s ( 0.5–7.5 keV ) , we rule out its association with G309.2 - 00.6 , and we confirm that HD 119682 is its optical counterpart . We derive a distance of 1.2 \pm 0.3 kpc , which is consistent with the distance estimate to NGC 5281 ( 1.3 \pm 0.3 kpc ) , and much smaller than the distance derived to the SNR G309.2 - 00.6 . We discuss the nature of the source , unveil that HD 119682 is a Be star and suggest it is a new member of the recently proposed group of \gamma -Cas analogs . The Chandra and XMM-Newton X-ray lightcurves show variability on timescales of hundreds of seconds , and the presence of a possible period of \sim 1500 s that could be the rotational period of an accreting neutron star or white dwarf in this \gamma -Cas analog .