Candax Energy Inc CXEYF

BIG TIME DEBT

[simonquinn]

Owe $6ml to Geo from loan.

And the big one -

The amount outstanding represents the amortized cost of the related party term loan under the new terms

with Geofinance. The nominal amount of the debt outstanding as at December 31, 2011 and as at

September 30, 2012 is US $22.5 million excluding interest carried forward.

[Corpkid]

The loan is payable to the majority shareholder (Geofinance-65% ownership of Candax), so I'm not concerned about this loan in the least.  If it were the another financial institution-yes.

[simonquinn]

Debt is money owed. Cetainly effects the sp. Until this is paid it hangs over the company big time. Another mis-step in a long history of them sends CAX into bankrupty.  Geo not likely to send them bailout money again. Upside for sp? Read M/A and do not see any.  Shares trading 3.5 cents. Madasgasgar or nothing looks like to me.

[Corpkid]

the company is sitting on 20 trillion (circa) cubic feet of gas and if you extend beyond the borders of Candax the gas moves up to the 200 trillion cubic feet range.  Believe me Marathon drilled it 8 times blowing the hole with high pressure.  The oil production in tunisia is simply the cash machine to fuel future drilling.  the company generates 20 million annually at 575

[simonquinn]

Cash cost per mth = $1ml just to stay afloat. Cannot afford to drill - owe $30 million to Geo. ElBibane has been a nightmare and production could cease anytime - hopefully not - but certainly has in the past. Unless you got all that gas - and CAX has very little of it - then you cannot sell it. Talking big numbers for a 3-4 cent stock. Obviously you must know more than the market.

[Corpkid]

Candax did not have a tanker lifting for the quarter, will show up next quarter with tanker lifting Candax has been drilling as part of the workovers on Robanna and Ezz. New  EZZ infill wells once seismic fully analyzed. Candax is not putting any real money into El bibane oil production, candax is depending on condensate production (wet gas) that will produce for years all of

[BlindBat_1]

I appreciate the perspective and optimistic view, but must intervene here for a minute....Allow me to chime in on various point you bring... Candax did not have a tanker lifting for the quarter, will show up next quarter with tanker lifting True, but Candax is not in the driver seat, the agreement between the parties is that who ever has the most OIL in the storage tank is the one

[Corpkid]

Whats your point.  Candax did not have a tanker lifting for the quarter.  It's well known earnings will be choppy due to the timing of liftings.   Whats your point regarding EZZ/robanna.  The man said they do not have the money to drill and I stated that they have drilled new sidetracks, workovers etc.  Candax redrilled Robanna.  Candax will continue to evaluate

[Corpkid]

Whats your point regarding candax spending a pretty penny on El bibane in 2012.  My point:  candax is not going out and contracting a jack up rig with a day rate of $185,000 to redrill el bibane to go after 3 plus million barrels. Do you really want to know about the 20 trillion feet of gas - call John Younger, because thats the only reason the world bank got involved.

[BlindBat_1]

Maybe you ought to read what you type to understand my point - but no worries off you go in the clueless bucket! I'll let John know you said hello !

[mind_business]

"Do you really want to know about the 20 trillion feet of gas - call John Younger, because thats the only reason the world bank got involved." *********************************************** Corpkid, are you saying that you've talked to John Younger and confirmed the 20 TcF amount .. or is it based on your assumption?  All I've seen in print is "greater than 3 TcF"

[Corpkid]

John Clarke, Forbes/Starmine north american oil and gas analyst of the year.  I've listened to each and every presentation since the day this company went public.  They consider the deep gas to be equivelant to the large field to the south in tunisia.

[mind_business]

"John Clarke, Forbes/Starmine north american oil and gas analyst of the year. I've listened to each and every presentation since the day this company went public. They consider the deep gas to be equivelant to the large field to the south in tunisia." ************************************************************************ Well, I hope you're right. I too have

[mind_business]

I stand corrected. Candax does define Deep Triassic multi-Tcf as being "2 to 15 Tcf" in their March 2009 Report. See page 17 of the report. https://www.docstoc.com/docs/67412710/Microsoft-PowerPoint---March-09-Investor-Presentation I think common sense has led CAX to stick to "greater than 3 Tcf" in their current presentations to avoid over-estimating to Investors

[simonquinn]

That is old mgnt - which said production from ElBibane was on course for 2500bls/oil in 2010. And drilling for this gas in 2010. The sp is 3.5 cents. What more do you need to know?

[Corpkid]

i think those estimates are conservative, however this will be my last post on this board.  It is obvious that those who control this board are very self centered, low self esteem - manipulators, just terrible.

[mind_business]

i think those estimates are conservative, however this will be my last post on this board. It is obvious that those who control this board are very self centered, low self esteem - manipulators, just terrible. *********************************************** That's unfortunate ..., but your choice.  I will engage in discussion with anyone who presents information without getting emotional