WesCan Energy Corp V.WCE

Contact Management, Facility & Reserves Potential, Articles

[Dragoon]

I advice all interested investors to contact management. This is always beneficial in investing and definitely in smaller companies like Wescan.
Also note that they have a facility, which isn't clear in the balance sheet, that can handle more fluids when it is upgraded, creating low costs of oil processing. You can ask how much fluids/oil it can process and what the potential is if you want.

Moreover, the oil reserves will be higher when more workovers are done, many wells weren't part of the last report because many workovers were in development.

In the meantime I have my fingers crossed for some bigger developments than the smaller, but important, workovers. Definitely now that oil prices are staying relatively higher than when the assets were acquired in 2015 and beginning Covid crisis. https://tradingeconomics.com/commodity/crude-oil

Some interesting articles on oil development and oil reserves going down:

https://www.reuters.com/markets/commodities/oil-extends-gains-easing-omicron-fears-iran-delay-2021-12-07/

https://oilprice.com/Latest-Energy-News/World-News/Halliburton-Global-Oil-Scarcity-Is-On-The-Horizon.html

The best of luck to everyone!

[Dragoon]

Contacting management is always recommended, definitely with smaller companies. Great oil reserves coming after all workovers done, large potential. Neighbor oil company has a big oil field. Also let us not forget the potential acquisition value in the Provost area https://boereport.com/2021/03/25/tamarack-valley-energy-ltd-announces-closing-of-previously-announced-strategic-clearwater-and

[Theconsortman]

Your right I forgot about an aquisition. Using 50 BOED current production (being charitable here it is in the low 40s) 50 BOED x $40 000/BOED (again crazy number considering the op costs) $2 million ! Oh but they have  $1.4 million in payables and an outstanding shareholder loan of $500k. OK so $100 000. Lets see ... 35.36 million shares out. That seems like a lot... $100 000 / 35 360

[MuscleMooseBill]

Nice try you lieing little wanker. Add in $5 million for the facility and then recalculate. You got nothing better to do but post garbage on wescan and other oil stocks. I took Dragoon's advice and called Wescan myself to hear the truth. I know the value they have and what you are saying is outdated information because production is higher now. On a second note you are not even giving any

[Theconsortman]

How does a facility with throughput of 45 BOPD have such a high value? It cost $5 million to build 12 years ago doesn't make it worth that today. If the facility is worth so much then why is Wescans LMR below 2? They vcouldn't even sell if they wanted to without the buyer posting a bond with the AER.