RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?Roddiggiti wrote: Right now only 16 wells are producing, that's why they are raising $200k and getting 5 more into production. We should be over 100bopd once it's all done and this is low risk stuff. Replacing tubing from what I heard from an associate who spoke with management. On top of that there are almost 500,000 barrels of oil. At $60, the NPV is at least $10 million, but only shows $6.4 million in the last 51-101 because pricing was obviously lower. There is also drilling upside that could really change the dynamics here. You have a tight float with decent insider holdings and positive cash flow. WCE should be trading in the mid teens once those workovers are completed.
OK fair enough. What about the $1.1 million of payables? Do they not have to pay these before spending the $200k on workovers?