Ann: Wizard Lake Well Frac Completed, page-27

Hurraahhhh. News news news.
Very likely tomorrow. Be so disappointed if no news tomorrow.
I’ve been expecting good flow rates since before Christmas .

Where’s js2452. Checked out PLX trades from yesterday. Whoaaa up 15%, a three cent rise, sitting on 21 cents. But they know less than we do, only 12,000 shares changed hands.
Come on, if someone actually knew something there would be a couple of million shares changing hands.
On scenario 4, hundreds of BOD PLX will be over a dollar and a quarter of the company will change hands.

Where was I? Ah, the reason I posted today, apart from helping to cope with the waiting, what I was thinking this morning the real reason that I thought the increase in our share of the Rex was important, was less that we got a 50% increased exposure.
But what it says about the bosses’ thinking. David has been there during the drilling, he has a jar on his desk with some of the sand in it from the horizontal, and it is free flowing loose stuff. He has seen what other wells in the area are doing and producing, he has seen how cost effective drilling and production is. He put more company money into the Rex before the final results are in. He believes it’s a goer. He has doubled down on the Rex. He has risked all the companies money to the Canadian venture. He sold Xanadu. His reputation and competence is on the line. He is all in on the Rex.
Failure is always a possibility, no risk no gain.
I don’t think he is gambling at this point.

I go back to “ the well intersected a continuous reservoir section from the casing shoe with predominantly good quality reservoir accompanied by excellent oil shows (fluorescence and cut) and elevated gas readings.”
This was repeated in a couple of announcements and I believe it means we have oil.

I have totally increased my holding in WBE since that was first written.
I’m not expected to be disappointed by flow rates as anything above 200 BOD should support a share price above what we have now.

Hopefully announcement before market tomorrow. Been 9 days since flow testing has begun, they should be delivering oil to the refinery by now.

Viva the yellow vests

Viva WBE

Viva Saltbus

Saltbus