WesCan Energy Corp V.WCE

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Insider support shows much promise with WCE's property

[bdeparde]

This reminds me of the back in the day when I yolo'd wzr.v at 9 cents when isis was running around. They got bought out for 27 cents!

Roddiggiti wrote:

Not exactly sure on what specific infrastructure they have, except that nothing has to be trucked in or out. So this is a huge advantage when it comes to lower cost and greater economics. Having a facility with a resource that can produce for the next decade has more value than the mere $2.4 million market cap the stock is trading at now. In my opinion, fair value of WCE with the workovers done, say 100bopd, 500k barrel resource + infrastructure is worth at least 20 cents a share with only 35.4 million common shares. Then any new drilling can escalate that quickly.

Just look at SHP, that oil play literally has no production, no resource, just a one trick drill pony play and the market gave it a $8 million market cap on the hopes of hitting one well, which they hit two dusters in a row. Today it still has a market cap larger than WCE with nothing of value as of yet. So why can't WCE have a $5-6 million market cap? Investors will catch on here. 
 

Dragoon wrote: Not only infrastructure, they got a factory to process the oil themselves with room for more production! I don't know if you included that in the infrastructure. And yes, currently oil prices are not processed in the stock price, including the actual low production cost of average 35 netback costs including workovers (2017-2020) and 30 without workovers!

 

Roddiggiti wrote: I was told that there's $5 million just in infrastructure value on the property, nevermind the roughly half million barrels of oil. The value of this asset has not yet been fully recognized, but I think that's about to change.

bdeparde wrote:

I have 520,000 shares at a price of 5.85 cents. That works for me. But isn't their oil battery worth around 6 million on its own? A lot of assets here but I struggle to know the true worth... 

 

YouSellandIBuy wrote:

 

bdeparde wrote: Surge and dark warrior resources only two drilling near provost, I was always hoping for surge to buy the asset out.

Roddiggiti wrote: Company told my associate that there's a few options, but the best path forward in terms of really increasing production is drilling a couple conventional wells. High chance of success given the enormous amount of data from that field and cost vs production possible looks good. Their 25 wells(including the workovers being done now) provides a solid base and then a new catalyst, whatever it is, should really give the stock some momentum. With 35.4 million shares now, it's still tightly held by management and friends/family. So that group must be quite confident that this field will offer some great upside potential one way or another. 

 

Very good opportunity with light oil and wescans low cost of production. This could be bought out still because the asset has longevity in the pool and can be expanded to a larger resource. Strong buy sub 10 cents.