Ann: Quarterly Activities and Cashflow Report, page-30

PLX had a new presentation out last night.
While everything PLX doesn’t apply to WBE, there are very obvious major connections.

Some of the highlights.

The major item that caught my eye in the 24 page presentation was the large reduction in the course of the last 12 months was the reduction in the costs of production per BOE.
In 12 months has gone from $23 down to $13 (l presume Canadian dollars).

Rex is now their major oil producer, when production starts.

They have no debt, but I couldn’t find how much cash they had. I think they are running on these warrant things as they have about 10 million shares tied up with them. They have 71M shares on issue but 81 M shares totally, allowing for how they are financing their losses.
I’m interested in their finances as WBE has lots of cash and there could be opportunities for them to increase the percentage of the better prospects.
Interesting times ahead.

Saltbus