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Wedgemount Resources Corp C.WDGY

Alternate Symbol(s):  WDGRF

Wedgemount Resources Corp. is a Canada-based junior oil and gas company. The Company is focused on the acquisition, development and exploitation of natural resource projects in the southern United States. In the Permian Basin, the Company is focused on consolidating oil and gas assets through the acquisition, development, and operation of distressed oil properties. Its Permian Basin assets include Willowbend and Millican. Its Millican asset is located in Runnels County, Texas, approximately five kilometers (km) from Willowbend. The project consists of seven producing wells from the Gardner formation. Its Willowbend asset is in Runnels County, Texas, approximately 55 km south of the city of Abilene. The property has over 11 producing wells from the Gardner formation and one injection well. The Company has a 100% interest in the TCS oil and gas property located in Runnels County, Texas. It also has oil and gas assets (the Huggy Assets) located in the Permian Basin of west central Texas.


CSE:WDGY - Post by User

Comment by drox2000on Jul 13, 2021 4:31pm
236 Views
Post# 33537179

RE:Question..

RE:Question..Wedgemount's corporate deck on page 7 shows 87% insider/founder holdings.

Not hard to figure out, when you start a corporation the founders hold 100% of the stock.  Then the go-public process dilutes that a little.  In this case they kept most of the control in their hands, which is a good sign.

That 87% figure is likely less now that they've raised a cool $1.36 million at 0.50, which should put them at well over $1.5 million. 

More than enough for this season's exploration program on all three projects.

News flow will be strong this summer/fall.

Still completely under the radar.
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