Word is out! David Pescod featuredin yesterday's Late Edition .... mentions $ 3- $ 5 potential!
here come more buyers!
WEE are in for more fun!
cheers,
-Lucy.
WAVEFRONT ENERGY (V-WEE) $1.21 +0.26
RICHARDS OIL & GAS (V-RIX) $0.98 -0.04
Dad was an engineer and of course he always wanted his son to be
one as well. There is one big problem with that—it involved mathematics,
physics, chemistry and all that kind of stuff. Mom was just
glad we got a liberal arts degree and we were out of the house.
We are very much reminded of this as on Tuesday past, we put together
a conference call with Brad Paterson and Brett Davidson, the
President and VP of Wavefront Energy and Environmental Services, an
Edmonton-based firm that has been working for the past decade on
new technology to help recover reserves from old oil and gas fields.
As I mentioned, this involves new technology and sitting in on a
conversation between these gentlemen and Peter Salamon, President
of Accrete Energy and some of his technical staff, reminded us immediately
that we do not have a technical background!
We were with them for the first 30 seconds, but after that, there were
so many words with so many polysyllables, we were long lost. However,
we did get the drift and they are apparently working on the development
of a new tool that can help further recover more leftover
oil from the big pools around the world. Currently more of oil remains
then is obtained (with current technology, roughly 40% of the
oil can be recovered) so any ability to recover more would be significant.
It’s not just the oil implications that are out there, there’s also biological
and environmental applications for treating land fill sites and
lots of other reasons.
The stock chart shows you that it’s starting to attract attention in
the market and they have a high profile play to show that their new
technology works (or not) with a joint venture with Halliburton in
Rogers County, Oklahoma.
At this point, the company certainly has what they hope is significant
new technology, but there is certainly not a lot of stuff like revenue,
cash flow and analyst coverage. That was until yesterday, when
Jim Letourneau of the Big Picture Speculator discovered the story
because of its volume and chart trends. He writes in his letter: “their
technology goes after underexploited reserves and represents a new
approach to enhanced oil recovery. The market for their technology
is enormous. My research indicates that the technology has merit.”
Needless to say, in this kind of an oil market, should this technology
work, this could be a huge story. VP Paterson points out to us
that obviously insiders and management are big believers in the
story as he maintains that 62% of the shares outstanding, are held by
management, directors or friends…..or friends of friends.When we caught up with Letourneau today for more comments on
the Wavefront potential, he suggests that the company is having very
good results on environmental “pump and treat” endeavors. He suggests
“it’s just not the oil and gas applications that are important, it’s
the environmental plus others” and he believes the potential for
“uranium leeching” using this device could also be impressive. In his
opinion, the technology “has lots of potential applications.”
Okay, we asked— “What does your top three look like?” Number
one has suddenly become Wavefront, (which he had hoped to see a
correction on, but feels he may have to chase after all), as he wouldn't
be surprised to see a $3.00 to $5.00 target as this story is rapidly attracting attention.