Second Wave Petroleum Inc SCSZF

Pekisko and Waterflood

[puntabeach]

I quote from CREW ENERGY Q4 2012 results. Pekisko obviously responds fine in Waterflood and SCS owns almost  100,000  net  acres   (100%  WI)  in Pekisko.

 

Pekisko Secondary Recovery

In the fourth quarter, Crew initiated waterflooding of the Pekisko "DD" pool bringing the total to eight pools currently under waterflood. The original Tilley Pekisko "K" and "N" pools have consistently exceeded expectations with current oil production levels 254% and 176%, respectively, above pre-waterflood levels (waterfloods initiated in January 2010 and July 2011, respectively). At Alderson the Pekisko "M", "KK" and "HH" have been under waterflood since July 2012 and have shown positive initial response with gas oil ratio reductions of up to 70% over pre-waterflood levels and some early flush oil production. At West Tide Lake the Pekisko "CC" and "KK" pools have been under waterflood since September 2012, and are showing indications of initial response through reduction in the gas oil ratio on the order of 27% on a combined basis. In aggregate, the eight pools under waterflood represent approximately 25% of the currently developed Pekisko resource (approximately 16% of Crew's Pekisko land base is currently developed).

[LexiOil]

So what gives?  Why is SCS getting hammered so badly, worse than the average basket of other comparable?  Really, it was trading at 360 last year on the word it was going to be bought out, now 33cents. You keep talking about investors selling it on the cheap and how this is the big drag, but really are you saying these institutional investors and fund managers can't read and are

[puntabeach]

Many folks wonder for the reasons of the big drop from  3.6  to 34  cents. My  7  years  experience  in  the  Canadian  markets  says : 1)  The  Canadian  market  is   primarily   retail investor  driven and  it  is  not  funds  driven. Few  funds  buy  the  small

[LexiOil]

Thank you for your insightful reply puntabeach, which explains momentum, negative or positive.  One institutional buyer(investor) holds over 50% of SCS, another has bailed to use tax loss selling.  I have never been one to look at tax loss selling as a positive if you know what I mean.   SCS could very well be in good financial shape, and a unique victim of structural share holding.

[skeksis]

Per SEDAR, the annual financial statements came out on March 29th last year.  They Came out on March 29th in 2011.  They came out on April 29th in 2010.  They came out on April 30th in 2009. So I disagree when you say "We see no financials, which based on the past should be out by now."  Based on the recent past I expect the financials in a couple of weeks. 

[LexiOil]

This is very good skeksis, I stand corrected and was anticipating a qtr update 3 months after the Nov numbers, which would have been Feb..If they do it in March so be it.  Of course, I am very curious as to what has driven SCS to 9% of its peak in just one year.  I don't want the co## and bull about other companies dropping, this is not the case, atleast not to these levels.  I

[puntabeach]

I  posted  below the great results that CREW  has   from the  Pekisko  formation  thus  far. SCS   also   owns  100,000  net  acres  (100%   WI)   in  Pekisko    AND    30,000   net  acres   in  Beaverhill  lake   formation. According  to  the  

[Iamwcw]

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