Cancen JV coverageThis sounds very optimistic.
Hopefully this will come to fruition and the SP at these levels will become a thing of the past
https://www.investorideas.com/news/091609a.asp
To help commercialize its technology, Wescorp Energy has formed a 50/50 joint 
with Cancen Oil Canada Corporation, a leading provider of oilfieldwaste management services. Cancen plans to deploy a combined 12 H20Maxxand HCXT Solids units over the next 12 months at its processingfacilities. HCXT technology removes solids from oilfield water andcleans the solids to a standard allowing them to be used as gravel orfill. In September, the joint venture received a $1.0 million fundingcommitment to begin constructing three remediation units, consisting oftwo H20Maxx units and one HCXT Solids unit. As part of the agreement,Cancen will fund, operate and manage the joint venture. Revenuesgenerated from treating and disposing of oilfield water and sellingadditional oil recovered in the treatment process will be sharedequally by the partners.
Revenues generated by the jointventure are likely to ramp up quickly as more units are deployed. EachH20Maxx unit can process approximately 2,000 barrels of oilfield waterper day. If third party disposal fees are $5.00 per barrel, each unitcould generate $10,000 in daily fees and $3.6 million in annual fees.If twelve units are deployed in their current operations, disposal feescould exceed $43 million annually. Wescorp's 50% share of unit revenueswould be $21.6 million. Construction costs are approximately $500,000per unit ($6.0 million for 12 units) so payback on the originalinvestment is achieved in a few months.
Revenues generatedfrom the sale of recovered oil could be even more significant. Cancenthinks by incorporating H20Maxx technology into their currentfacilities they could recover of an additional 500 to 1,000 barrels ofoil per day by its processing facilities. At $70 per barrel oil, eachadditional 100 barrels is worth $7,000. Wescorp's share would be halfthat, or approximately $3,500. Assuming 12 units operating, Wescorp'sshare of revenues from oil sales could be $42,000 per day or more than$15 million annually.
The economics of HCXT Solids unitsare equally as compelling. Cancen plans to deploy HCXT Solids unitsalong with H20Maxx units. In western Canada, oil companies can pay asmuch as $450 per cubic meter to dispose of contaminated oilfieldsolids. Assuming Cancen treats 50 cubic meters of oilfield solids eachday, each HCXT Solids unit could generate daily revenues of $22,500(i.e. 50 meters X $450 per meter) and annual revenues of $8.1 million.Wescorp's share would be 50% of that or $4.05 million. Twelve HCXTSolids units deployed in the field could generate a $97 millionannualized revenue stream and Wescorp's share would be half that orapproximately $48 million.
The joint venture plans todeploy 12 remediation units over the next twelve months and more unitsnext year as Cancen continues to expand its footprint. The agreementalso allows the joint venture to build and deploy portable units, whichwill provide on-site remediation for Cancen clients drilling in theAlberta Oilsands.