Candax Energy Inc CXEYF

In the process of..

[maxamillion]

varifying some of this info, When we talked to John Clarke today, he suggests it could be two to six weeks before they get coiled tubing equipment from either Egypt or Algeria to resume the testing and then an indefinite period before they could have some significant results. There are two analysts that follow this story. Fred Kozak at Haywood, who with this new development has revised his target to $1.15, a reduction from the original $1.25 and he points out, “We still believe that the current valuation of Candax is more than supported by the company’s remaining assets and cash flow prospects.” He continues, “Without Chaal, Candax has a basic NAV of $0.88 per share. Canaccord’s Terry Peters moves his target to a speculative buy on the company with a target of $1.08, down from $1.33. Peters writes, “Our new target represents the NAV for Candax based on its year-end reserves, the redevelopment of El Bibane and the probable reserves at Chaal.” He also points out that “Candax has a strong cash position of approximately $70 million or $48 million net.” Any comments?? max