Second Wave Petroleum Inc SCSZF

RE: RE: 2P Reserves Report, fat chance

[Oceans19]

I agree that 400K per well is excessive and there are steep declines, high well costs and the debt to worry about. 

That being said, they are sitting on a very nice land package with lots of oil.  If they can partner up with someone with expertise in the region(their neighbours)to get the cost per well down or pay it for them in a farmout and get a better flow per well then they will get that needed cash flow back again to pay down debt.

Their share structure is pretty tight at 84 121 000 shares and and brookfield owns almost half of those outstanding shares so that is a big plus.  Management is buying in small increments in a share buyback program twice per month.  The market cap is only 41.64 m. 

Now we just have to wait for news and the new investor presentation.