Wellstar Energy (A0F41X)- 51-101 Report - Total Proved Producing 44.7 MSTB - 500 Beiträge pro Seite

[Blubb0r]

WellStar Energy Corp. (TSX-V symbol WST, Frankfurt symbol W6V) is pleased to announce its reserves and an operational update following its successful summer drilling program.

WellStar has interests ranging from 50% to 75% (Before Payout - "BPO") in three producing oil wells, in the Virgo-Zama area of Alberta, and a 50% interest in 2,000 bbl/day production facility. The Company has the right to earn an additional 50% interest in two leases by participating in drilling or re-entry of two additional wells.

WellStar has recently completed a reserves assessment according to National Policy 51-101, conducted by Fekete Associates Inc. of Calgary, Alberta, dated September 30, 2006. The summary of that report follows. The complete report is available for viewing on the company\'s website www.wellstarenergy.com or on SEDAR at www.sedar.com.

These reserves and forecasts do not take into account any additional production that might be developed from the company\'s proposed 3 well capital drilling and re-entry program. This program will be funded by a combination of cash flow, and if successfully completed, proceeds from Future equity financings.

SUMMARY OF OIL AND GAS RESERVES AND NET PRESENT VALUES AS AT SEPTEMBER 30,
2006


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Company Interest Reserves Remaining
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Before Royalty(i) After Royalty(ii)
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Light/ Light/
Med Heavy Med Heavy
Oil Oil Gas NGL Oil Oil Gas NGL
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(MSTB) (MSTB) (MSTB) (MSTB) (MSTB) (MSTB) (MSTB) (MSTB)
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Total Proved
Producing 44.7 0.0 0.0 0.0 38.5 0.0 0.0 0.0
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Total Proved 44.7 0.0 0.0 0.0 38.5 0.0 0.0 0.0
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Total Proved
Plus Probable 62.0 0.0 0.0 0.0 53.6 0.0 0.0 0.0
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Net Present Value ($M)
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Net Present Value 0% 5% 10% 12% 15% 20%
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Total Proved Producing 1598.8 1507.7 1429.0 1400.4 1360.3 1299.8
Total Proved 1598.8 1507.7 1429.0 1400.4 1360.3 1299.8
Total Proved Plus Probable 2198.1 2029.5 1895.0 1847.2 1781.0 1683.2


(i) Includes only Company working interest share of remaining natural gas,
solution gas, oil, condensate and natural gas liquids reserves.


(ii) Includes Company working interest after royalty and Company royalty
interest share of remaining natural gas, solution gas, oil, condensate and
natural gas liquids reserves.


NOTE: Numbers may not add due to rounding.

The company is planning an active winter drilling and re-entry program. The initial program comprising of one new well and one well re-entry will complete the earning provisions of the next two farm-ins at the Virgo Zama project. The new well is proposed to develop a reservoir which is related to oil pools producing in adjacent leases. If successful, two additional drilling locations may be identified on the company\'s lands. The well re-entry is planned to re-establish production from a formerly producing reservoir.

The Company believes there is an opportunity to increase the historical low recoveries realized from past off-pinnacle drilling. An additional well is planned to further this development model. The reservoir currently being produced by the Company\'s well 13-22 has 2.83 million original barrels of oil in place, an attributed proved producing recovery factor of 10.20% and approximately 249 thousand barrels of production to date (see reserve assessment). Devonian Keg River reefs can have recovery factors far greater than 50%, which presents an exciting development opportunity for WellStar in this and other reservoirs on its property.

Andrew H. Rees, President of WellStar said; "We are optimistic that the planned exploration program will substantially increase output, allowing the company an exciting opportunity to realize significant value from its assets."

For further information contact:


Andrew H. Rees, President & C.E.O.

Tel: [phone]
Toll Free: 1-886-666-7970
Fax: [phone]
Email: [e-mail]



Meinungen?

[corppor]

52W-hoch/-tief:
1,19 / 0,280

Kurs 0,31

Das nenn ich mal ne Chance

[Blubb0r]

Das die Aktie nachhaltig unterbewertet ist, ist mir schon klar. Ich frage mich eher welche langfristigen Auswirkungen der Report auf den Kurs von Wellstar haben koennten. Öl ist ja genug da, braucht nur noch gefördert zu werden.

[2meterwaller]

servus

ist es normal das über einen so langen zeitraum in canada kein handel stattfindet?

wieviele shares sind out, weiß das einer? scheint mir doch sehr markteng zu sein, bei dem spread.

danke

[Blubb0r]

Es stehen zur Zeit ca. 9m shares aus. Die MarketCap ist recht gering, scheint auch damit zu tun zu haben, dass Wellstar 3. Wells in Produktion hat und daraus Cashflow generiert. Der ist nicht riesig reicht lt. Reese aber allemal um dass operative Geschäft zu decken. Für größere Bohrprojekte sind zusätzlich p.p. nötig, eins befindet sich gerade in der Mache.

@2meterwaller

Was meinst du Markteng?

Wellstar ist relativ unbekannt, hat noch keine nennenswerte PR gemacht. Gab aber einige Empfehlungen im September und Anfang Oktober.

[Sylvanitus]

Netter kleiner Wert, aber eigentlich nicht unterbewertet. Immerhin gab es einige Insider Käufe. Die Fantasie auf steigende Kurse ist aber wohl gering, da nur wenig Explorationspotential. Besser finde ich Bronco Energy (BCF) mit eigener Bohrfirma und Ölsandpotential von 500000 Mio Barrel, die haben einen Vertrag mit einer first nation in Canada geschlossen (riesiges Gebiet!!).

[Blubb0r]

Antwort auf Beitrag Nr.: 25.757.378 von Sylvanitus am 27.11.06 22:15:18

Warum siehst du da kein Explorationspotential?

[Blubb0r]

Kurspotential scheint auf jeden Fall gegeben.