Second Wave Petroleum Inc SCSZF

Good News

[kooteni]

Three of their BHL wells had IP's of 2145, 1700 and 1300 BOEPD which is 2 to 3 times as good
as ARN's best wells. The following are comments from the Aug. 15 2Q financial report.

"Once all 13 earning wells are drilled and completed the Company will control 48 net sections of Beaverhill Lake mineral rights in Judy Creek representing an unrisked potential drilling inventory of 144 to 192 well drilling locations assuming three to four horizontal wells per section."


"The Company had eight (8.0 net) Pekisko horizontal oil wells at year end 2010 with less than 30 days of production prior to the Judy Creek gas plant outage commencing in December 2010. These eight (8.0 net) wells have continued to meet management's expectations with aggregate production rates from the wells increasing since the start up of the Company's gas plant in February. Production from all eight wells is currently limited by surface pumping capacity and the Company continues to monitor the performance of the wells to evaluate the feasibility of optimization alternative

The Pekisko with 1 billion bbl oil in place is a sleeping giant. Note in their remarks the current Pekisko wells
are limited by equipment ie; they are not producing at maximum potential. With pad drilling lowering drilling costs
and Coral Hills higher volume completions we will see exceptional economics.