Candax Energy Inc CXEYF

RE: RE: CAX

[gemsearcher2]

re-checking facts!
looks like they have offices in 4 different countries to me!Canada,England,Tunisia,Madagascar!
you say their production is 400 bls/oil per month?....the actual gross production was 1140 bopd(barrels of oil per day).The gross production for Dec. would be near 35000 total.
With a NET production of 420 bopd =13020 bbls/month.
It's not a lot....but better than the earlier announced production rate of approx. 250 bopd!.

I too think that EBB3 should be a relatively easy fix in the first stage,to repair the trubing,,(changeout the whole string or maybe just the top portion or whatever they decide)...and get the well back online.

The planned second stage workovers for both wells,i'm not so sure about!.Getting the packers set in the perfect spot without blocking off the production that may be coming in from the fractures can be tricky for sure.Sometimes it works great!..sometimes if does not.But it will be costly!.

Their proven and probable reserves are nothing to sneeze at...if you read from the Scott Ryder reports from a couple of years ago...it's just a case of them being able to move foreward in a positive direction to develop the resources and bring them into production.This is something they have never been able to do with any amount of success it seems!..they have failed miserably over and over again (esp. with El B.),blowing money and not achieving anything that could be considered a good success at all.
However,,maybe,just maybe,they will start to finally get things going right.Just one step at a time.I hope they can do it.Surely they have learned from their past mistakes...i sure hope so.....but they have managed to make pretty much everybody lose all faith in them,and in their abilities.

CAX's big chances remain with their prospects.Chaal can still be potentially huge.Robbanna remains potentially huge.The Deep Triassic is potentially huge.Same for Madagascar.
But unless these guys can do things right from here on foreward and start by bringing production up from current operations in order to meet debt obligations and fund future exploration...imo,they're not going to make it.
So..i wish them well in getting production restored from EBB3 asap.That will be the first big step.