BAM is the sole fund now in SCS. Front Street left in Nov- Dec 2012 due to tax loss .
Front Street has sold a lot of shares lately in some other small Canadian firms although they have risen from 10-50% since then but this is another story.
FRONT STREET sold 2,5 million shares then driving the price from $1,1 down to 50 cents because it also caused NEGATIVE MOMENTUM. Add on this SCS Q3 2012 results and this is why the stock dropped.
Now there are only retail investors who SELL because they have no news.....the buyers do not show up big because there is no news either despite the fact that SCS has POSITIVE CASH FLOWS (around $6 million PER QUARTER and around $25 million PER YEAR).
This is enough to support AT LEAST TWO beaverhill lake wells PER QUARTER.
40% x $4.9 million/well= ~2 million/well.
However, the LOGIC has lost with SCS lately despite the fact that the fundamentals scream that SCS is grossly undervalued. The mass, the herd, the typical LOSER retail investor keep selling at these levels....
NZ.V, PENGROWTH, SGY.TO and many other recent BIG REVERSALS are not enough to educate him....the retail investor is DOOMED TO ALWAYS LOSE and SELL AT THE LOWS!!!
Check the presentation to RECALL what SCS owns.....PEKISKO is also an ace in its sleeve.....
it can also make a FARM OUT for its REMAINING BEAVERHILL LAKE acreage ....it owns 100% in 10,000 net acres and 40% in 50,000 acres currently. The latter is the JV with CPG.
https://www.secondwavepetroleum.com/documents/pres/SCS-presentation_2012_06.pdf
The company's projections above were with AECO at $2 !!!!