WesCan Energy Announces Results of Annual General and Special Meeting of Shareholders and Files Q3 Financial Statements

About this update from Wescan Energy Corp.

[{"type":"text","content":"\n\n\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\n SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, March 5, 2013 /CNW/ - WesCan Energy Corp. (TSXV:WCE) (\"WesCan\" or the \"Company\") announces that at the annual general and special meeting held on\n March 1, 2013, WesCan's shareholders elected the nominees standing for\n Directors as presented in the Management Information Proxy Circular,\n comprised of Greg T. Busby, Richard Orman, Mike Robichaud and Alfredo\n De Leon Cu. Greg T. Busby is the Chief Executive Officer and President\n of WesCan.\n\n\nThe Company's stock option plan was re-approved by the requisite\n percentage of shareholder votes cast at the meeting. In addition, the\n shareholders re-appointed Manning Elliot LLP, Chartered Accountants, as\n auditors for the ensuing year.\n\n\nThe Company also announces that it has filed on SEDAR its unaudited\n interim condensed financial statements and management's discussion and\n analysis for the three and nine month periods ended December 31, 2012.\n The documents can be accessed through the SEDAR website at www.sedar.com.\n\n\nSelected Quarterly Financial & Operating Highlights\n\n\nThe following table provides a summary of key unaudited financial and\n operating results for the three and nine month periods ended December\n 31, 2012 (Q3 2013) and 2011 (Q3 2012):\n\n\n\n\n\nFinancial & Operating Highlights\n(Cdn$ except shares, per share and per\nboe amounts)\n\n\nThree MonthsEndedDecember 31, 2012\n\n\nThree MonthsEndedDecember 31, 2011\n\n\nNine MonthsEndedDecember 31, 2012\n\n\nNine MonthsEndedDecember 31, 2011\n\n\nAverage daily sales volume (boe/d)\n\n\n7\n\n\n5\n\n\n3\n\n\n6\n\n\nPetroleum and natural gas revenue,\nnet of royalties\n\n\n$41,593\n\n\n$17,135\n\n\n$42,765\n\n\n$90,297\n\n\nNet loss from operations\n\n\n$71,584\n\n\n$135,239\n\n\n$356,110\n\n\n$368,991\n\n\nNet loss and comprehensive loss\n\n\n$73,308\n\n\n$137,060\n\n\n$357,834\n\n\n$366,225\n\n\nProduction revenue per boe\n\n\n$82.70\n\n\n$93.04\n\n\n$82.80\n\n\n$92.81\n\n\nOperating netback per boe (1)\n\n$30.66\n\n\n$50.89\n\n\n$30.61\n\n\n$31.04\n\n\nTotal assets\n\n\n$1,004,551\n\n\n$1,921,556\n\n\n$1,004,551\n\n\n$1,921,556\n\n\nWeighted average common shares\noutstanding - basic (2)\n\n2,652,853\n\n\n47,478,432\n\n\n2,795,793\n\n\n47,478,4...

More updates from Wescan Energy Corp.