Second Wave Petroleum Inc SCSZF

PENN WEST in SWAN HILLS

[puntabeach]

 

PWE is another major surrounding SCS.

Check out PWE's  Q1 2013 report and how significant this OIL-RICH  asset is for PWE:

 

With approximately 500,000 net acres, the Carbonates light-oil play (Slave Point and Swan Hills) represents a significant long-term asset. In 2012, operated oil and gas infrastructure was significantly expanded to accommodate further development over the next several years.

• In the first quarter of 2013, eight single lateral horizontal wells were drilled in the Sawn (Slave Point) and Swan Hills areas.
• Compared to the first half of 2012, average drilling and completion costs were reduced by approximately $1.9 million per well, to $4.8 million at Sawn, by utilizing experienced crews, top performing rigs and moving into the development phase of the project.
• Also compared to the first half of 2012, Swan Hills average drilling and completion costs dropped approximately $900,000 per well, to $4.3 million , by reducing drilling times and modifying completion procedures.
• In the second quarter, plans include the tie-in of the wells drilled in the first quarter and advancing waterflood pilots in the Sawn and Otter areas of the Slave Point, both of which are anticipated to be operational in the second half of 2013.