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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

Post by Roddiggition Mar 17, 2021 11:55am
142 Views
Post# 32816609

Insider support shows much promise with WCE's property

Insider support shows much promise with WCE's propertyJust a quick history lesson here. In 2015, Leo Berezan (WCE's largest shareholder) sold the current producing property to WesCan for shares. Over the past 6 years, Leo has continued to increase his position in WCE, the largest increase just happened now. It's very likely that Leo knows the full potential of the property since he was the prior owner. Seeing him buying stock before the workovers and potentially a drill program is as good as it gets in terms of where things are headed. Company production costs range from $29-36 a barrel, as per the last 6 quarters. So to double the production and get $60+ for your oil, it's obvious to see that the company is making good money right now.
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