Candax Energy Inc CXEYF

RE: Valuation, Candax vs Oilexco

[Malahat]

Using 4000bl/d at 20% decline over 13 years El Bibane would produce almost 6,000,000bl - that ain't chicken feed. First year production would be about 1,314,000bl, @73.8%, 970,000bl net to Candax, worth about $72,000,000 at $74/bl netback, plus operating income from the SEEB power plant. That might improve the outlook for Candax share price considerably. Of course, the wells need to be completed and put on production and with Candax, sh*t can happen! GLTA!