WesCan Energy Corp. Announces Fiscal 2025 Year-End Financial and Operating Results, Provides Operations Update

About this update from Wescan Energy Corp.

[{"type":"text","content":"WesCan Energy Corp. Announces Fiscal 2025 Year-End Financial and Operating Results, Provides Operations Update\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Calgary, AB –\n \n\n\n\n TheNewswire -\n \n\n\n\n July 16, 2025\n \n\n – WesCan Energy Corp.\n(“WesCan” or the “Company”) is pleased to report its financial\nand operational results for the twelve months ended March 31, 2025.\nThe Company’s consolidated financial statements and management’s\ndiscussion and analysis (“MD&A”) are available on SEDAR at\n \n\n www.sedar.com\n \n\n .\n \n\n\n\n Financial and\nOperational Highlights:\n \n\n\n\n\n\n\n\n Revenue:\n \n\n Petroleum and natural gas revenue increased 45% to $4.0 million,\ncompared to $2.8 million in the prior year, reflecting increased\nproduction and improved commodity prices.\n \n\n\n\n\n\n Production:\n \n\n Average daily production grew 44%\nyear-over-year to 147 boe/d, up from 102 boe/d in 2024, primarily due\nto successful workover programs and facility optimization.\n \n\n\n\n\n\n Cash\nFlow:\n \n\n Cash flow from operations was $587,164, a\nsignificant improvement over the prior year’s cash outflow of\n$270,543.\n \n\n\n\n\n\n Net\nIncome:\n \n\n WesCan recorded a net loss of $799,969 for the\nyear, compared to net income of $233,911 in 2024, largely attributable\nto increased royalty and operating expenses, higher depletion, and\nfinance charges.\n \n\n\n\n\n\n Operating\nNetback:\n \n\n Operating netback for the year was $17.31/boe,\ndown from $26.47/boe, primarily due to higher costs and royalties,\npartially offset by higher production volumes.\n \n\n\n\n\n\n Strategic and\nOperational Progress:\n \n\n\n\n\n\n WesCan’s 100% operated, oil-weighted assets in east-central Alberta\nare characterized by multi-zone oil reservoirs with low declines and a\nportfolio of low-risk, multi-lateral horizontal development drilling\nlocations.\n \n\n\n\n The Company remains focused on disciplined development, optimizing its\ncore properties, and actively evaluating strategic acquisition\nopportunities to add long-life, low-decline producing assets.\n \n\n\n\n During the year, significant investments were made in well workovers\nand facility upgrades, resulting in both higher oil and natural gas\nproduction.\n \n\n\n\n\n\n Upco...

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