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Target Capital ( (TSE:WGT) ) has issued an update.
Westgate Energy Inc. reported a significant increase in production and operating income for Q1 2025, with a 46% rise in average production volume compared to the previous year. The company has secured additional financing through a credit facility and public financing, which will be used for drilling and strategic acquisitions. Westgate has commenced a three-well drilling program in the Cold Lake area, targeting the Mannville Stack formations, with expectations of increased production and further drilling plans later in the year.
More about Target Capital
Westgate Energy Inc. operates in the energy sector, focusing on oil and gas production. The company is engaged in exploring and developing oil assets in East-Central Alberta and West Central Saskatchewan, utilizing innovative drilling techniques to optimize horizontal drilling in shallow heavy oil reservoirs.
Average Trading Volume: 63,513
Technical Sentiment Signal: Sell
Current Market Cap: C$7.49M
See more insights into WGT stock on TipRanks’ Stock Analysis page.