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 > Lsd

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Comment by bdepardeon Aug 11, 2022 2:01am

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Post# 34887248

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Lsd

$500,000 from PP and $500,000 debt raised for a total of $1.0M.

Wescan to my knowledge doesn't hedge gas or oil. From April to June they should have generated some decent cash using existing gas and oil production.

Theconsortman wrote: A proper open hole mutli lateral out here is going to cost $1.2 million fully dressed minimum. They raised $500k 6 months ago so they need a partner or another raise to make up the $700k shortfall.

I doubt any field services will move for them unless they pay in advance due to their previous track record of not paying invoices and settling for pennies on the dollar.

They need to find a partner I think to fund the drill.