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Bullboard - Stock Discussion Forum 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... see more

TSXV:WCE - Post Discussion

WesCan Energy Corp > Patience
View:
Post by bdeparde on Nov 29, 2021 10:43pm

Patience

Patience Consortman. There is value here. I takes time to repair a balance sheet. We need some drilling. A joint venture would be great. Full utilization of the battery would be great. Wescan will bring in more revenue now that they can sell their natural gas again. 

 


Look at these numbers WTI crude traded up 105% from an average price of $33.19 (US$/BBL) during 2020 to an average price of $68.12 ($US/BBL) in 2021. Bow River crude traded up 135% from an average price of $29.69 ($CDN/BBL) in 2020 to an average price of $69.72 ($CDN/BBL) during 2021. The average daily spot price for AECO natural gas increased 51% from $2.08/MCF in 2020 to an average price of $3.14/MCF in 2021.

Comment by Theconsortman on Nov 30, 2021 11:10am
Patience? From their latest MD&A: Realized price /BOE: $69.82 Royalties ($8.02) OP cost  ($27.96) Operating netback $33.84 G&A / BOE ($21) !! About $13/BOE left. 50 BOE/D * $13 = $650 / Day They have $ 1, 404, 989 in accounts payables. It will take 2162 days (6 YEARS!)  to pay off existing payables at todays pices and production. Add on top of that $1.8 million of ...more  
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