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WesCan Energy Corp V.WCE

Alternate Symbol(s):  GPIPF

WesCan Energy Corp. is a Canada-based junior public resource company. The Company is engaged in the business of oil and gas exploration, development and production with oil and gas operations and property interests in Alberta, Canada and Texas, United States of America. It is focused on exploration and development of light oil and liquids-rich natural gas opportunities in Alberta and Saskatchewan. The Company’s assets are comprised of 100% operated, oil-weighted properties characterized by multi-zone oil reservoirs with low declines that include a number of low risk, multilateral horizontal development drilling locations. The Company focuses on pursuing and evaluating strategic acquisitions with synergistic characteristics of long-life producing assets and opportunities with low risk and upside potential.


TSXV:WCE - Post by User

Bullboard Posts
Post by bdepardeon Jun 27, 2018 5:11pm
71 Views
Post# 28240364

WCE Picked Up Producing Assets When WTI Was Under $50

WCE Picked Up Producing Assets When WTI Was Under $50On April 20, 2015, the Company entered into an agreement (the Agreement) with Alston Energy Inc. (Alston) through Alstons court appointed receiver, Alvarez & Marsal Canada Inc. (Alvarez), to acquire a 100% working interest in certain petroleum and natural gas rights located in east-central Alberta. The total cash consideration for the acquisition was $1,240,000 which was fully paid by the Company to Alvarez between April and May 2015. The Agreement was approved by the courts and the TSX-V Exchange on May 15, 2015 and May 25, 2015 respectively and the acquisition was completed on May 25, 2015. Annual Revenue, net of royalties in March 2016 increased to $1,036,413 from $43,345 prior to acquisition. Annual Revenue, net of royalties in March 2017 was $1,461,971 with operational costs shrinking. I look forward to the March 2018 results! They should be released sometime in July based on prior sedar filings.
Bullboard Posts