Since 2012 | TSX-V: WCE
Disciplined Growth, Strong Foundations
Building long-term value in Alberta through responsible light oil and liquids-rich natural gas development.
0+
BOE/D Production
0%
Liquids Weighted
0
New Drills Planned
Why WesCan
The Investment Case
Cash-flowing Mannville oil producer with independently evaluated reserves, insider-aligned management, and a clear organic and acquisition path to scale.
Reserve-Backed Value
McDaniel & Associates assigns $7.8M TPP NPV10% and $0.15/share TPP NAV as of March 2025. Independently evaluated reserves provide a clear floor to intrinsic value.
Cash Flow Positive
209 boe/d production with a $56/boe operating netback on $105/boe revenue (Q1 FY2027). Fiscal 2026 funds from operations of $1.2M, up 134%; Q1 FY2027 added $0.96M.
Near-Term Catalysts
Rex PUD multilateral drill planned for Q3 2026 following 3D seismic. Additional upside from 2022 multilateral re-entry and waterflood evaluation across existing pools.
Insider-Aligned
Management and insiders hold above 40% of shares outstanding. Leadership has direct skin in the game — interests fully aligned with shareholders.
Growth Strategy
Three-Pillar Path to Scale
01
Organic Growth
Rex PUD multilateral drill in Q3 2026 following 3D seismic. Re-enter the 2022 horizontal well to drill additional lateral legs to access bypassed pay — at a fraction of new-well cost.
02
Accretive Acquisitions
Actively evaluating Mannville bolt-on assets in the Provost area below 0.5x PDP NPV with established infrastructure and immediate cash flow.
03
Scale & Re-Rate
Build toward 500+ boe/d to attract institutional capital, improve trading liquidity, and close the valuation gap to reserve-backed NAV.
Capital Markets
Investor Resources
Access our latest financial disclosures, corporate presentations, and strategic updates. We maintain rigorous standards for governance and transparency.
Strategic Foundations
Core Asset
WesCan holds 100% working interest, operated positions in the Provost area of east-central Alberta, producing 29 API Mannville oil from the Rex, Cummings, Dina, and Lloydminster formations. Our technical team leverages disciplined capital allocation to unlock significant value from this asset.
209
BOE/D Production
29 API
Mannville Oil
Target Formations
Upper Mannville Group
Four productive formations within one of Western Canada's most established oil fairways. Decades of offset well data provide high geological confidence.
Rex
Primary target. Host to WesCan's producing multilateral well (Aug 2025) and the planned Q3 2026 PUD location. Channel sand reservoir with strong deliverability.
Cummings
Laterally extensive sand within the Upper Mannville, providing secondary development targets and stacked pay potential across the Provost area.
Dina
Basal Mannville sand unit with established production history throughout the region. Offers additional reserve upside and infill drilling opportunities.
Lloydminster
Prolific oil formation across east-central Alberta and western Saskatchewan. Provides regional analogue data and acquisition screening potential.
Operating Netback, Q1 FY2027 (Apr–Jun 2026)
| Revenue | $105/boe |
|---|---|
| Royalties | ($17/boe) |
| Operating Costs | ($32/boe) |
| Operating Netback | $56/boe |
| Based on WTI ~$98 USD/bbl (Apr–Jun 2026 avg). Royalties reflect a combined rate of approximately 16% of revenue (Crown, freehold, and overriding royalties). Operating costs include workovers. | |
Reserves: McDaniel & Associates, March 2025
Proved Developed Producing (PDP)
239 MBOE · NPV10% BT
$4.0M
Total Proved (TP)
377 MBOE · NPV10% BT
$5.8M
Total Proved + Probable (TPP)
480 MBOE · NPV10% BT
$7.8M
Updates
Press Releases
Recent Developments
Corporate Milestones
Key events in WesCan's transformation from exploration-stage junior to cash-flowing Mannville oil producer.
Q3 2026 (Upcoming)
Rex PUD Multilateral Drill
Targeting a proved undeveloped location in the Rex formation following 3D seismic acquisition. Designed to replicate the success of the August 2025 multilateral and grow production from existing booked reserves.
Q1 2026
Cash Flow Positive
WesCan achieves positive free cash flow at 209 boe/d corporate production (January 2026 actual). Operating netback of $29/boe. Full-year 2025 net operating income of $1.3M; January 2026 annualizing at $2.2M.
August 2025
Rex Multilateral Drilled & On Production
Drilled and completed a multilateral well in the Rex formation achieving approximately 105 boe/d of 29 API oil and associated natural gas, turning the company cash-flow positive.
Excellence
Company Vision
Mission
Creating value for shareholders and stakeholders through transparent, disciplined energy development.
Values
Adhering to the highest levels of corporate and social responsibility by stewarding our assets towards projects with the highest return.
Leadership
Management Team
Our executives bring decades of experience in asset optimization and strategic growth within the Western Canadian Sedimentary Basin.
Leo Berezan
CEO and Board Chairman
Sarshar Ahmed
COO/Director
Phil Burry
Director
Corporate
Corporate Information
AuditorsMNP LLP
General Legal CounselEnerNext Counsel
Transfer AgentOlympia Trust Company
ReservesMcDaniel & Associates Consultants Ltd.
Connect
Contact Head Office
WesCan Energy Corp.
Suite 1972, 350 7th Avenue SW
Calgary, AB T2P 3N9
Phone: +1-403-816-4037
Email: info@wescanenergycorp.com
For Asset Divestitures
WesCan is actively evaluating Mannville oil acquisition opportunities in the Provost area. If you are considering divesting producing or non-producing assets in the Rex, Cummings, Dina, or Lloydminster plays, we welcome the opportunity to review your offering.
Email Our Team →Send a Message
We'll get back to you within 2–3 business days.
Forward-Looking Information
This website contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements regarding future production rates, drilling plans, capital expenditures, reserve estimates, operating costs, and corporate strategy. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated, including commodity price volatility, exchange rate fluctuations, regulatory changes, geological risk, and the ability to obtain financing. Readers are cautioned not to place undue reliance on forward-looking information. WesCan Energy Corp. assumes no obligation to update forward-looking information except as required by applicable securities legislation. BOE conversions are based on 6 Mcf = 1 BOE, which may not reflect actual energy equivalency. Reserve estimates are based on McDaniel & Associates March 2025 evaluation of the Provost area.
Specified Financial Measures: This website refers to certain financial measures — including operating netback, net operating income (NOI), and NOI yield — that are not standardized financial measures under IFRS and may not be comparable to similar measures presented by other issuers. Operating netback is calculated as revenue less royalties, operating expenses, and workover costs, and excludes general and administrative expenses and debt service; it is therefore not a measure of free cash flow. Management uses these measures to assess operating performance; they should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Refer to the Company’s disclosure filings on SEDAR+ for the composition of these measures and reconciliations to the most directly comparable IFRS measures.
Oil & Gas Advisory: Reserve estimates and related information on this website are derived from an independent reserves evaluation prepared by McDaniel & Associates Consultants Ltd. with an effective date of March 2025, prepared in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation (COGE) Handbook. Reserve estimates are based on forecast prices and costs assumptions and are estimates only; actual reserves may be greater than or less than the estimates provided, and the estimated values do not represent fair market value. Net present values (including NPV10) are calculated using a 10% discount rate and do not necessarily represent fair market value. The reserves evaluation predates the Company’s subsequent operational activity and does not reflect results after its effective date.
Exchange Disclaimer: Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this website.