Candax Energy Inc CXEYF

RE: Wellington West report

[Tinmann]

I for one was happy to see the target increase. Maybe you should call them and tell them what you think and have the analyst spell it out for you in simple terms. No offence intended Calif, but your analysis of the company is brutally simplistic. Wellington West appears to balance their target with the actual NPV of the projects and state that the reserves have a short RLI. Can't say I can argue that point. I think that the company needs to show what's next after El Bibane in order to get stronger buy-in/targets from the brokerages. I also think current cash is closer to $35 million. Not sure about others, but I'm taking the professional opinion over yours on this one.