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Western Energy Services Corp V.WRG


Primary Symbol: T.WRG Alternate Symbol(s):  WEEEF

Western Energy Services Corp. is a Canada-based energy services company that provides contract drilling services in Canada and in the United States and production services in Canada through its various divisions, its subsidiary, and its first nations relationships. The Company's services include Horizon Drilling, Stoneham Drilling, Eagle Well Servicing and Aero Rental Services. Its contract drilling business includes drilling rigs along with related ancillary equipment. Its production services business includes well servicing rigs and related equipment, as well as rental equipment. It markets a fleet of approximately 41 drilling rigs specifically suited for drilling complex horizontal wells across Canada and the United States. The Company operates around 63 well servicing rigs. Its drilling rigs can include features such as AC power, top drive, dual fuel, automated pipe handling, automated catwalk, hydraulic substructure levelling, hydraulic BOP handling and Range III tubulars.


TSX:WRG - Post by User

Post by calfloon Mar 16, 2009 10:51pm
637 Views
Post# 15848483

Hanging on

Hanging onIt is quite amazing the amount of people I talk to,  that still own this stock.  Not only in Calgary here,but around the province. Granted there is no liquidity, but they are all long time investors and are pretty much invested at around the 30 cent mark pre/split.  What is even more interesting they still feel they will make a good return on the investment, as they are in touch with the company on a regular basis.  When you consider that the share price would have to get to around the $ 4.00 per/share, post split,  basicly just to break even, that would be something.  Talk about loyal investors.  Hopefully they are not getting set up for another disappointment, but at 5 cents today, !!!   Some of the share price  expectations  by many are so high , that I wouldn't even want to mention. but they still believe the company has turned the corner, and have a very bright future. I guess if you were told that the stock would get to $1.00  before the one for twelve share consolidation, that it will get to $12.00 now.  It would appear that something must be positive for the future when that debenture was converted into shares a few months ago, but for them to turn a profit that is a different story , that was converted at less than 2 cents a share pre / split price, that is what makes me concerned for the long time investor.  Have the rules changed now and will the loyal investor still get rewarded, or shafted. ?  Now the share price gets to $1.00 and that makes them  a 400 % profit  they are happy but the long term investor will  still suffer a 300 % loss,  With the industry being in a down cycle, makes one wonder what could be going on.?  It sure doesn't hurt to become optimistic, but when you have such lofty goals, they are very hard to achieve.  With all the doom in the markets now , it is nice to here some optimism,, so maybe they will be rewarded for hanging in,  Lets hope so !!!   B.O.L
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