This is far too cheapLoad up the truck and here's why: Another Saskatchewan-focused producer, Spartan Energy Corp. (SPE), lost two cents to $6.33 on 2.54 million shares, giving back a fraction of the 25 cents it added yesterday and the 19 cents it added the day before that. It has not released any news in this time, but cheerleaders seem optimistic that excitement is on the way. For one thing, Spartan already promised to "revisit" its 2017 guidance after spring breakup. It made that promise when it released its first quarter financials in May, showing quarterly production of 21,455 barrels of oil equivalent a day, more than 500 barrels a day above its forecast. It added that production "continued to outperform in the second quarter" and therefore it would take another look at its guidance after breakup. Although breakup has been over for several weeks, without any production updates from Spartan, investors seem hopeful that the guidance is in for a boost. Investors are also eagerly awaiting news on Spartan's drill program for the second half of the year. Two areas in particular are worth a mention: the Ratcliffe play, where Spartan expanded last December by buying the Saskatchewan assets of ARC Resources Ltd. (ARX: $17.51) for $700-million, and the Torquay play, which is the Canadian version of the U.S. Three Forks play and lies beneath the better-known Bakken formation. Spartan had said it would start drilling the assets acquired from ARC in the third quarter of 2017. It is staying true to its word, having licensed roughly a dozen Ratcliffe wells since the start of June, according to public data. It has also licensed one Torquay well. The Torquay is a relatively new play for Spartan, but has long been a core "growth area" for the above-mentioned Crescent Point Energy. Crescent Point first caused a stir in the play in 2014, when it managed to boost its Torquay production to over 5,000 barrels a day from nothing in a mere 12 months. Spartan did not take much notice of the Torquay until the fourth quarter of 2016, but then it quickly expanded its landholdings to 22 sections from just four. It is planning to drill three Torquay wells in the second half of this year. One analyst is already getting excited for results from both the Torquay and Ratcliffe plays. Scotia Capital analyst Cameron Bean, in a research note yesterday after the close, predicted that the drilling results from the plays will be "catalysts" for Spartan's stock. He already sees Spartan as "our best idea for oil exposure," thanks to its "outstanding profile and strong outlook." He left his rating on the stock at "sector outperform" and his price target at $11.25.