LXE's Unrestricted versus CKE's Restricted Test IPsAs noted previously, LXE will exit 2017 with $5 million Debt while the NEW CKE will exit 2017 with Zero Debt and $2 million cash, according to the corporate guidances.
In addition, LXE doesn't reveal its Dec 2017 production (why really ??) while the NEW CKE has told us that it will grow its reserves and production by 110% this year and will exit 2017 at 6,300 boepd.
In addition, compare the NEW CKE's RESTRICTED results from the last three Montney wells due to capacity restrictions (its 100% own plant was filled at capacity because the latest results exceeded expectations) that range from 690 boepd to 774 boepd with above 100 bbls Free Condensate per day
with Leucrotta's (LXE) UNRESTRICTED results (IP-7) from the Lower Turbidite play that has been heavily touted by some "analysts" over the last months:
713 boepd (condensate unknown)
371 boepd (condensate unknown)
472 boepd (condensate unknown)
550 boepd (condensate unknown)
On top of that, LXE's results at Doe from Upper Montney are significantly lower than offset operators, see below:
https://www.leucrotta.ca/news/?id=2154314
Did I say that LXE currently trades $120,000 per boepd and $16/boe and 16 times its annual CF while the NEW CKE currently trades at $11,000 per boepd and $2 per boe and 4 times its annual CF?