Ann: Company Update, page-135

>>The assets do not seem to be anywhere near as good as they told us .
>>Some wells were touted to have payback of only 5 months .

err, so lets check that claim and do sums on last 2 glauc wells came on in March, and as May data just released

oil 29237 bbl in 1728 h, noting 1 well lagging the other, but still daily production increasing with latest data
so over 72 days, average per day 406 bbl oil and 250 boe gas

latest cost is c$2.6m so (2*c$2.6m)/(406 bbl/d * 60 wcs * 1.35 usdcad) = 158 days = 5.09 months payout

at lo wcs and that doesnt include return from another av 250 boepd gas