SCS was just under 3$, in late 2010 When SCS had ONLY production from Pekisko (2,000 boepd) back in late 2010 and it was trading at TSX Venture as SCS.V, the pps was just under 3 $! SCS has zero production from BHL back then.
You can do your research, you can ask the company to confirm, you can read the following link to confirm it too. ONLY their Pekisko land had a value of 7 $ per share.
Today SCS has derisked Beaverhill Lake play, it has not applied any waterflood techniques yet that double the oil production on average, it has drilled only 16,8 net wells out of UNRISKED 90 BHL wells but it trades at 75 cents. Just Absurd.
Corporate production growth is expected to resume in the fourth quarter with the re-commencement of the Beaverhill Lake drilling program. The Company expects that it can maintain and grow its light oil production base in the near future on a cash flow based budget.
The Company estimates that it has an unrisked Beaverhill Lake drilling inventory of 90.0 net locations in Judy Creek of which 16.8 net have been drilled to date. The Company's estimates its undrilled inventory represents approximately $403 million of unrisked net investment opportunity on primary production and based on the type curve data disclosed above potential unrisked 30 day and 180 day average net light oil production rates exceeding 40,000 bbl/d and 14,000 bbl/d, respectively. The Company remains focused on maximizing its shareholders exposure to the successful development of this light oil resource.
The link I was telling you is below...read at the bottom of the page. I also quote
https://valueinvestorcanada.blogspot.ca/search/label/Second%20Wave%20Petroleum
Oct 2010
Keith: There’s a few of them. One of my favourites right now is Second Wave Petroleum, symbol SCS on the TSX-V It trades just under $3. They have an oil discovery at Judy Creek in central West Alberta, where they have over 100 sections of land in the Pekisko formation, and can drill 4 wells per section. They are steadily proving out the whole field, and they’re a great takeover candidate.
Dave: I own a bit but they’re a bit expensive, aren’t they?
Keith: Some growth is already factored into their share price, but that’s true with most good growth stories – especially the oily names. It means they have strong market backing. You want that in this kind of slow market. Most analysts figure the Pekisko field alone could be worth $7 a share to them. And they have recently been able to more than double production from their wells with a new fracking technology. That hasn’t been taken into account yet. And the big upside here is the deeper Beaverhill Lake formation.