Ann: Wizard Lake Rex-1 Update, page-19

No one to argue with lately.
No resurgence in trading like what occurred last Friday has happened so far this week.

Was hoping for news regarding Rex 2, and only one day left to go before the weekend.

There was some information that I’ve been trying to track down. I found it in PLX’s most recent announcement, of the Fourth of July.
They did a breakdown of production at Rex 1 for the month of June.
Production commenced on the fifth of June.
Pumped for 555 hours.
The last 10 days of June were impacted by wet weather and restricted pumping.
Total oil pumped in June was 4,280 barrels of oil.
No mention of money or price.

I think payment is one month in arrears.

My last post I was a bit incorrect regarding the price we will get for the oil (as best as I can tell at this stage)
I’m told the costs are about Ca$30 a barrel. But I’m not clear if that includes the $8.50
price penalty for quality against the WTI crude price.
Obviously that makes a big percentage difference.
Ca$58 minus $30 = $28 (Canadian)
Or
Ca$58 minus ($30-$8.50 = $21.50) = $36.50

We may find out when the Quarterly comes out.

News soon.

Saltbus