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Bullboard - Stock Discussion Forum
WesCan Energy Corp
V.WCE
Alternate Symbol(s):
GPIPF
Energy
Oil & Gas E&P
WesCan Energy Corp. is a Canada-based junior public resource company. The Company is engaged in the business of oil and gas exploration, development and production with oil and gas operations and property interests in Alberta, Canada and Texas, United States of America. It is focused on exploration and development of light oil and liquids-rich natural gas opportunities in Alberta and...
Saskatchewan. Its assets are comprised of 100% operated, oil-weighted properties characterized by multi-zone oil reservoirs.
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Bullboard (TSXV:WCE)
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(57)
•••
Theconsortman
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Comment by
Theconsortman
on Mar 09, 2021 12:34am
RE:RE:RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?
I didn't include the 600k in insider loans. The $1.1 of payables is real, right from the sedar filings Hard to do workovers when you haven't paid your contractors from last time...Or surface
...more
(114)
•••
Roddiggiti
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Comment by
Roddiggiti
on Mar 09, 2021 12:16am
RE:RE:RE:RE:RE:Why is this moving so fast?
Yes, they have several drill locations still and those will be much larger producers than just a shut in well that's being worked over.
Coelacanth Announces 2023 Year-End Reserves
posted Apr 19, 2024 9:00am by
Coelacanth Energy Inc.
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|
During 2023, Coelacanth completed successful Montney pad wells at both Two Rivers West and Two Rivers East. Longer wells and a new completion design was successfully executed on both pads resulting in materially improved productivity. Baseline productivity was established in the Upper Montney at Two Rivers West and the Lower and Basal Montney at Two Rivers East for future adjustments to completions and well designs ...read more
(114)
•••
Roddiggiti
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Comment by
Roddiggiti
on Mar 09, 2021 12:13am
RE:RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?
From what I was told by my associate, that's not the case. The $200k will go right to the workovers as crews are on standby. So we should have all 21 wells producing by month end.
...more
(57)
•••
Theconsortman
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Comment by
Theconsortman
on Mar 08, 2021 11:44pm
RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?
OK fair enough. What about the $1.1 million of payables? Do they not have to pay these before spending the $200k on workovers?
(2)
•••
freedom-1970
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Comment by
freedom-1970
on Mar 08, 2021 6:44pm
RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?
Can't get much better odds doing work overs at this oil price levels ... Work the numbers anyway you want this company has great upside from here !! GLTA!!
(114)
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Roddiggiti
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Comment by
Roddiggiti
on Mar 08, 2021 5:19pm
RE:RE:RE:RE:RE:RE:Why is this moving so fast?
Right now only 16 wells are producing, that's why they are raising $200k and getting 5 more into production. We should be over 100bopd once it's all done and this is low risk stuff. Replacing
...more
(57)
•••
Theconsortman
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Comment by
Theconsortman
on Mar 08, 2021 4:32pm
RE:RE:RE:RE:RE:Why is this moving so fast?
28 wells making 59 bopd total. Who do you sell this to?
(1)
•••
bdeparde
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Comment by
bdeparde
on Mar 08, 2021 4:11pm
RE:RE:RE:RE:Why is this moving so fast?
Personally I like tired old developed assets that you pay 5 to 10 cents on the dollar for. I would assume there is a lot of opportunities for water flood or poli to go down the well and get production
...more
(57)
•••
Theconsortman
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Comment by
Theconsortman
on Mar 08, 2021 4:07pm
RE:RE:RE:Why is this moving so fast?
Petrosands went bankrupt with some of the same tired old assets. As of January 2021 Westcan was making 59 bopd. If they are clearing $50k per month that will clear out their current payables in a
...more
(1)
•••
bdeparde
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Comment by
bdeparde
on Mar 06, 2021 12:57pm
RE:RE:Why is this moving so fast?
Wescan bought this listing awhile back. Longterm history has nothing to do with Wescan, it was the former company company. I've copied an old posting of mine to give context. Original
...more
(1)
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bdeparde
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Comment by
bdeparde
on Mar 06, 2021 12:40pm
RE:RE:Low cost even with the workovers. More production coming
They are medium grade oil, basically if the wti price is $66.33 usd they are getting around that price but in $Cad dollars from what I have noticed.
(114)
•••
Roddiggiti
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Comment by
Roddiggiti
on Mar 05, 2021 11:39am
RE:Low cost even with the workovers. More production coming
With WTI at $66 today, Wescan is making good money. Once the workovers are all completed, the company should be netting a profit of at lesat $50K per month. Bigger upside on the drilling potential
...more
(35)
•••
Dragoon
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Post by
Dragoon
on Mar 05, 2021 10:16am
Low cost even with the workovers. More production coming
The production cost is only high right now because of the workovers. With the new accounting rules the costs have to be taken in the profit and loss statement at the moment of billing. It no longer
...more
(0)
•••
666Crow
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Comment by
666Crow
on Mar 04, 2021 2:37pm
RE:RE:RE:Why is this moving so fast?
Got to ensure the Pres. serverance is covered
(57)
•••
Theconsortman
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Comment by
Theconsortman
on Mar 03, 2021 7:35pm
RE:RE:Why is this moving so fast?
Sitting on $400k cash with $1100k payables? Their subs must love them. Who is going to do the field work lol?
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