RE:Low cost even with the workovers. More production comingWith WTI at $66 today, Wescan is making good money. Once the workovers are all completed, the company should be netting a profit of at lesat $50K per month. Bigger upside on the drilling potential. Their reserves are close to 500,000 barrels, mostly light oil. Stock should be trading at 12-15 cents right now.
From their last 51-101, 21 wells(some are being worked over and aren't producing right now) and then cost of production never exceeded $37, in the last 5 years. So we know they're making money.
Reserves:
https://cdn-ceo-ca.s3.amazonaws.com/1g3vthi-WCE%20Reserves%20%26%20Cost%20Of%20Production.jpg Production Costs:
https://cdn-ceo-ca.s3.amazonaws.com/1g3vtib-WCE%20Producing%20Wells.jpg