Post by
Theconsortman on Nov 25, 2021 2:46pm
value
Can you show me where I am wrong?
Debt: no debt * well $500k to insider?
46 BOPD
$20 000/bbl value (high op cost, water cut, some single well batteries)
Total $920 000
Total shares out: 35.36 million
=$0.02/share on sale or $0.01/share if you factor in debt?
What do your numbers say?
Comment by
YoungInvestor89 on Nov 25, 2021 3:52pm
I think the expectation here is that production at least doubles based on existing wells alone. Also, they own their facility outright which you have no included. The reserve as per the last 51-101 is worth $5MM at a 10% discount rate and $65 oil. I'll leave the rest to you.
Comment by
Theconsortman on Nov 25, 2021 5:04pm
No one is looking at reserve reports these days when transacting. It is production and free cash flow. How will the production double? They raised money last winter to do some workovers but there was no appeciable rise in production. Did they complete the planned workovers? Did they work over the wrong wells? Do they have money to do new workovers?
Comment by
YoungInvestor89 on Nov 25, 2021 5:19pm
There is a guy named Greg Busby who is the best person to answer these questions.
Comment by
Theconsortman on Nov 25, 2021 6:46pm
Oh yeah,...him. Important #s
Comment by
Roddiggiti on Nov 25, 2021 9:33pm
How about you wait for the financials to come out before running your mouth. You've literally been posting defamatory and inaccurate statements about WCE for the last couple years. You also attack people on SGY the same way. Just some petrol basher trying to shake out stock, let the new numbers talk rather than your bogus theories.
Comment by
bdeparde on Nov 25, 2021 10:58pm
I have been buying the sgy. Consort man is a great contrarian indicator. Much like Josef Schachter. Anyhow seems like all of us are up on wescan. Good for us all! Consort man is a crusty man, likely he panic sold in March 2020 and has resented any investor since.
Comment by
Theconsortman on Nov 26, 2021 10:44am
defamatory? Merely posting the monthly production figures that have been decreasing steadily ove rhte past few months. When WCE last raised money they said it was for workovers to increase production. That has not happened yet as per the numbers. What is defamatory about that?