Candax Energy Inc CXEYF

request for info from IR

[OceanRanger1]

I sent a request for info from IR and got this reply:

(I hope it posts ok. I seem to have trouble posting items like this)

To Candax Management,

I realize that we have had our new CEO for only 3 weeks now and it may be a little premature to expect action but if it is possible it would be nice to know what the future holds for Candax operations. The corporate presentation from June mentioned operational plans for some drilling on our existing assets and it would be comforting to know that these plans are advancing. It is understood that oil and gas operations move slowly but there must be considerable lead time on contracting operational activities.

Are you able to provide any information regarding future operations that are planned to take place during the fourth quarter of 2011 and into 2012. It is clearly demonstrated, by the lack of interest in the company's shares, that little is known about operational advances with the company.

This company is still stuck in the mud with little appeal for new money to come in until there is some form of optimism on the future. The share price continues to dwindle in the dog-house and will do so until there is some indication of progress on the operational side.

I have been a shareholder for a long time and have endured so much adversity for so long. I am a believer in the future potential of the company's current suite of distressed assets but the lack of visible progress is tiring and painful. Can you offer any kind of information to ease the pain?

Candax Shareholder


This was my reply:

(Again I hope this posts ok)

Your comments and concerns are noted.

 

We are expecting more news to be forthcoming but as you know, many of the operational items do not form part of press releases, only the major or “material” things.   That said, we are not able to provide you with any additional information as that would be considered selective disclosure.  Nevertheless, we would like to assure you that we are sensitive to the lack of news of late and the obvious shareholder fatigue. So I hope you will be patient for a little while longer, Tim.

 

John Younger, our new CEO, will be in Toronto tomorrow until the end of the month to strategize future  activities as they relate to being a public company. Your comments will be heard at the top and we will make a point of keeping you in the loop from time to time.

 

Thank you for your thoughtful email.


OceanRanger