All Information Below Can Be Found On SEDAR
Common Shares: 55,132,358
Insider Holdings: 13,765,333 or 25%
Options/Warrants: 1,381,800 at $0.134 average
Total Assets - $3,123,056
Total Liabilities - $339,529
NAV(Net Asset Value) - $2,783,527
Total Common Shares - $2,783,527 / 55,132,358
Value Per Share Right Now - $0.0504
51-101 Reserve Report(Ending Dec. 2016)
- NET 286,000 Barrels Of Light/Medium Oil
- NET 182,000 MMCF Of Gas
- NAV with 10% Discount of $5.1 Million CDN
Most Recent Quarter Results ( All On Sedar MD&A)
Q3 Revenue - $132,000
Average Price Per Barrel - $52.41
Production Volume – 2577 BOE
Royalty Cost - $1.98
Operating Cost - $38.63
Netback - $11.79
Company receives WTI pricing, which currently is between $63-65 per barrel. A major premium to what the company was originally getting. Also, I contacted the company and they confirmed that their cash flow is now positive even with added expenses. You can find their information through the PTC website and email/call them yourself to confirm.
For the three months ended September 30, 2017, the Corporation recorded a total production of 2,577 barrels compared to 2,677 barrels for the same period in 2016 and an average daily production of 28.02 boe/d compared to 29.10 boe/d in 2016 from its production property in Fletwode, Saskatchewan. For the nine months ended September 30, 2017, the Corporation recorded a total production of 7,884 barrels compared to 8,320 barrels for the same period in 2016 and an average daily production of 28.88 boe/d compared to 30.37 boe/d in 2016.
As at September 30, 2017, the Corporation had working capital of $295,276, comprised of cash or cash equivalents, deemed sufficient for the Corporation to meet its ongoing obligations in the coming year.
Since completing the acquisition of the Fletwode Properties in Saskatchewan in May 2014, the Corporation has experienced significant improvement in its financial performance. The Corporation did not complete the amalgamation transaction with Shanghai Sinooil Energy Holding Corporation on the proposed closing date of June 30, 2015 as expected, and the proposed amalgamation agreement has expired and was terminated. Since then the Corporation has begun to seek and evaluate other opportunities.