RE: Another new low The fact that your brother was fired from SCS last year AS YOU DISCLOSED in another post is enough to prove your motivation all these months.
Front Street Capital sold 2,5 million shares from November until early January as MOST Canadian funds did pushing the price down to 50 cents. Most Canadian funds switched to the US peers and this is why PRY, RPL, ATH etc. have dropped a lot. There are not other funds in SCS currently except BAM. So the stock is driven by the retail investor.
The retail investor as a typical herd sold too and the negative momentum got worse. Sell first, ask later typical thing. Due to lack of news, the retail investor kept selling driving the price down here.
SCS is not like AOI.V (Africa Oil) and his pumper CEO who issues PR every week trying to save his stock.
The retail investor is ALWAYS the loser in the stock market due to this behavior. Fact.
The momentum traders also sold when they saw that the stock did not return back upwards soon.
This selling does not change the facts and the fundamentals. SCS wells are on the sweet spot, they are even better than ARN where PBN bought a big stake recently.
SCS produce 100 bbl/d (exclude the natural gas) after 8 MONTHS (!!!!) with a total cost of 4.8 million currently. This is WITHOUT any waterflood which works fine with ARN and obviously it will work fine for SCS too.
SCS wells after 8 MONTHS are even better than the first month of a Viking or Spearfish well that produce ONLY IP-30 = 70 boepd with a cost at 1.3 million or higher.
"Second Wave now has a total of 35 gross (16.4 net) Beaverhill Lake light oil wells in Judy Creek
with average approximate 30-day initial production (“IP”), 60-day IP and 90-day IP light oil rates
per well of 500 bbl/d, 283 bbl/d and 219 bbl/d, respectively. These wells are currently producing
at an average estimated rate of 95 bbl/d per well after an average of 235 days of production".