Second Wave Petroleum Inc SCSZF

RE: 3rd quarter

[oilnvstr]

Many, including me, expected higher production, cash flow, and lower debt than what we saw in Q2. Rather, production declined 600boe/d (21%), cash flow fell $5MM (51%), and debt increased $5MM (5%). G&A mysteriously went from $650K to $1MM. That's waaay out of line for a tiny company. They say intend to try to live within their cash flow AND pay down debt. This will take a VERY long time to work out!