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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WesCan Energy Corp

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Post by Dragoonon Mar 17, 2021 10:36am

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Post# 32815914

Estimation FY2021

5 important points for WCE: With (1) WTI oil at 65 - WCE gets the same price but then in CAD - and (2) the same G&A and Depletion as this current Fiscal 2020 year with estimated 700K fixed for the full fiscal year, (2) Netback cost per BOE of 30 with all workovers done in FY2020 - calculated from 2017 - 2020 from the MD&A - and (4) 100 BOE/D production and (5) 35 million shares outstanding with high management ownership.
I calculate a rounded up 2 cent per share profit FY2021.
Change Netback cost to 35 if you assume the workovers but if oil is at 70 most of the year it is still 2 cents in my calculation.
Make it even 1 cent if you believe oil doesn't hit 70 most of the year and costs will be higher, but that is still a ridiculous P/E with good books when you look at the notes of the balance sheet!
Crazy profit with current stock price!