Second Wave Petroleum Inc SCSZF

RE: If another PP is in the works......

[idleSpeculator]

Hi SPinner, yes I know the logic behind selling a share at 8c to buy a oen in a PP at 10c. It is much easier to say you are buying the warrant for 2c. |From the accounts published we know SCS need some money very desparately. No doubt directors are helping out and some of them probably going without Salary at the moment. They need just enough to survive until they can prove they are making a profit, lift the SP then do a large PP at a much higher price to clear the balance sheet etc. This latter PP may be brokered for reasons explained previously. Whether they go with a loan, dig into thei own pockets or do a small PP down at these levels I have no idea, they do have a gun to their heads saying do something. If they do a PP down here I don't think it will be for much, necessay and sufficient to get them to the big PP, and a small one will not be brokered imo because SCS can probabley do it themselves, as they have done al of them for the last 2 years or more, saving commission. Having heard Pat's comments on Warrant prices re last LLX PP, IF the share is priced at 10, expect the warrant to be 15c not 12c. In your example above, that means you pay 2c for 15c warrant, (not 7c like you said??) and you need an SP of 17c+ to make a profit. Spinner, where is all of this nonsense coming from about Union doing a brokered placement? If you are so confident, call them up and ask to be in it. Sorry if this sounds a bit barbeed, that last post apart from being confused in the maths sounded like you were trying to teach me to suck eggs. Idle