GREY:CXEYF - Post by User
Comment by
Resilienceon Sep 24, 2009 12:19am
505 Views
Post# 16333866
RE: RE: Guys, Candax is toast
RE: RE: Guys, Candax is toast
No. As I said before, Candax is the forum I started on years ago. So I have a soft spot for it and drop in once awhile.
I can feel your frustration as it has been mine as well. With huge losses i got out between 0.15 and 0.20 and made it all back with other plays.
The latest run-up was an exit moment.
With what, about 5 mmBoe 2P and with ElbB sputtering into extinction you have about 700 Boe production? Based on 2P and 8 US per barrel you get 40 mln/170 mln shares is around 0.25 Cad per share. With 4 mln cash they will be in default in months. Undrilled prospects are worth squat at the moment.
Would you pay full 2p value for a sputtering hole like ElbB? Have a look at what OIL, BVX and IAE got for their sales. They were in better shape then Candax.
R.