WesCan Energy Corp V.WCE

Western Canada oil reserves total 465,300 barrels

[4networth]

Western Canada oil reserves total 465,300 barrels in Q2

2008-09-09 13:16 ET - News Release

Mr. Daniel P. O'Neill reports

WESTERN CANADA ENERGY LTD. REPORTS ON COMPARATIVE RESULTS

Western Canada Energy Ltd. has compiled a table which summarizes certain performance parameters during specified reporting periods from 2005 to 2008.

                            First      Fourth       Fourth        Second                          quarter     quarter      quarter       quarter                             2005        2006         2007          2008Daily production (boe)        65          136          161           250+Oil price per bbl         $56.62       $55.85       $82.43       $109.06Gas price per mcf          $6.82        $6.98        $6.65        $10.72Oil reserves (bbl)       213,000      330,500      314,100       465,300Gas reserves (mcf)       686,000    1,748,000    1,614,000     2,586,000NAV at 10%            $3,378,000  $10,000,880  $12,785,000   $30,215,800NAV at 10% per share       $0.39        $0.29        $0.37         $0.82Debt                    $802,968   $3,150,413   $4,017,449    $6,750,418Debt per boepd           $12,353      $23,165      $24,953       $24,370General andadministrativeper boe                    $9.85       $18.93       $18.67        $11.28Operating cost per boe    $18.40       $16.37       $13.39        $16.03Cash flow per boe         $11.65      $(7.91)       $11.59        $32.54Annualized cash flow per share                  $0.04          Nil          Nil         $0.12Acreage                    4,955       25,652       23,465        26,677