Second Wave Petroleum Inc SCSZF

David Pescod comments

[RockLobster1]

SECOND WAVE PETE. (V-SCS) $3.00 +0.22

With all the ugliness in the markets over the last while, there have

been an awful lot of ugly charts out there. Take a look to the left though

and you see two charts that are exceedingly pleasing on two junior

companies that the odds are, you probably never heard much about.

Second Wave Petroleum has just recently finished a financing, raising

about $25 million so they can continue to work on their Pekisko plays in

Alberta. Kim Page, the analyst with Wellington West wrote in his most

recent report: “Another convincing Pekisko acid-frac tests at 170 boe/

d.” Needless to say, these are pretty decent numbers compared to the

average well in Alberta of 50 barrels a day and it looks like they’ve got

lots of land to continue to work on.

In his report, he writes, “Exhibit 3: Seismic and Well Control has Extended

the G Pool over 30 Kilometers from Southwest Up-structure

100+ Meters to Northeast - Estimated In-place Resource Potential is

Now Over A Billion Boe on Lands Held by SCS.” That’s a billion barrels

gross, needless to say and recovery of that would probably be what—

10% to 15%? Which makes for an interesting story and Page in covering

the story, has a mere $4.00 target based on the Pekisko work continuing

to come up with good news. Page expects to see the company's

production continue to run from 990 barrels a day in 2009 to 1800 barrels

a day this year and start to fly to 3850 barrels next year. Which is

pretty interesting.

, Second

Wave is currently drilling underneath their Pekisko to where they

think they have Beaverhill Lake formation as well. And that first well

should have their results out some time in the first week of September,

analyst Page tells us. If they do have it, you would assume an awful lot

of analysts rushing to start covering SCS and increase their targets

potentially dramatically...if that first well is successful