Ann: Wizard Lake Rex Drilling Update, page-12

Nice to not have to talk to myself on the wbe threads.

Being cash flow positive, or better making a profit is a really, really big deal. Especially for little companies.
Remember that WBE is cashed up at the moment, $ 3 or 4 M in the bank.

Gas is unprofitable in Canada, price is too low. Oil is OK.
The current Rex well is reputed to be in an oil prone strata with a dozen more locations to drill. Which means it will need a dozen wells to drain the area covered by their lease.

If the first well is not profitable then they can’t afford and there is no point to drill more wells.
The beauty of making a profit is that not only do you have some money left over at the end of the year but it means you have recovered the dough that you have sunk into the endeavour which are the costs. A profit means you have recovered your costs and have that money to spend on the next well. Part of the profit can then be used as a dividend for the shareholders ha ha.

Not long to wait to see were this all ends up.

Merry Christmas

Salt