Ann: Wizard Lake Well Flowback Commences, WBE Lifts Interest, page-4

Hi Saltbus,

Bit sad to have to reply to you but for some reason there is almost no interest in what is happening at Wizard Lake Rex well in Canada.

For the lurkers out there and to give Saltbus some company I thought I would give my thoughts on likely results and the affect on the share price.

I think four results are possibilities, I will give my opinion on the odds of each possibility and my opinion on what I think would happen to the share price.

Let’s start low and work up.

No flow and no oil.
Totally unlikely. They already have hydrocarbons as oil and gas, good sand and good porosity and are testing flow with pump. Less than 5% chance. If this happens the share price is crashed, but they still have 0.2 cents of cash on hand.

Possibility 2,
Poor modest flow, 50 to 150 BOD. Very disappointing, I don’t think this is likely but still has a reasonable possibility, say 25% chance. In this case an abrupt sell off followed by a sick recovery. Maybe drill another well after analysis of cores and 3d but a blow to short term share price prospects.

Possibility 3
250/300 BOD. An average/expected result with great boost to share price and perhaps visit the two year high and stay around that figure. With more upside on drilling Rex 2 and all the following Rexs. Two year high is 2 cents. 60% chance.

Possibility 4
500/600 BOD. A great result and I think more likely than zero flow. 15% chance.

Effect on share price would be huge, 4 to 5 cents possible and there would be great enthusiasm all round. More Rex wells would be forthcoming quickly and we could dream of dividends and be be very pleased we now have a 30% of the Wizard Lake Rex area.

These are My thoughts and dreams, reality will anoint one of them in a few short days.

Saltbus