RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?Roddiggiti wrote: 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 tubing from what I heard from an associate who spoke with management. On top of that there are almost 500,000 barrels of oil. At $60, the NPV is at least $10 million, but only shows $6.4 million in the last 51-101 because pricing was obviously lower. There is also drilling upside that could really change the dynamics here. You have a tight float with decent insider holdings and positive cash flow. WCE should be trading in the mid teens once those workovers are completed.
What happened? There were hoping for 100 BOPD but Nov 2021 is showing:
1240 bbls oil.
30 days in Nov
41 BOPD, 89% wc
Will they still exit 2021 at 100 BOPD+ ??