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News: $SCS Winnebago Industries Appoints Sara Armbruster to Board of Directors
EDEN PRAIRIE, Minn., Dec. 19, 2019 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced the appointment of Sara Armbruster to its Board of Directors, effective December 18, 2019. Armbruster will sit on the Finance and ...
In case you are interested SCS - Winnebago Industries Appoints Sara Armbruster to Board of Directors
News: $SCS Steelcase Surprises Investors With Strong Third-Quarter Results
After missing its own top-line estimates in the first quarter of the fiscal year, office furnishings designer and manufacturer Steelcase (NYSE: SCS) turned in an improved performance in Q2, and in the third quarter, it surprised shareholders by handily exceeding management's previo...
Got this from SCS - Steelcase Surprises Investors With Strong Third-Quarter Results
linie welcoome to SECOND WAVE PETROLEUM LTD CL A (TSE:SCS
http://www.secondwavepetroleum.com/
Second Wave Petroleu (SCS)
0.86 ? -0.02 (-2.27%)
Volume: 47,000 @ 12:05:23 PM ET
Bid Ask Day's Range
0.85 0.86 0.86 - 0.87
TSE:SCS Detailed Quote Wiki
Second Wave Petroleu (SCS)
0.81 ? 0.01 (1.25%)
Volume: 187,000 @ 3:59:24 PM ET
Bid Ask Day's Range
0.8 0.82 0.8 - 0.82
TSE:SCS Detailed Quote Wiki
greeting from germany ... today is Second Wave Petroleum in germany 12% up ...
great
Second Wave Petroleu (SCS)
0.9 ? -0.04 (-4.26%)
Volume: 120,500 @ 3:56:24 PM ET
Bid Ask Day's Range
0.9 0.92 0.89 - 0.95
TSE:SCS Detailed Quote Wiki
Second Wave Petroleum Inc. Announces the Conclusion of its Strategic Alternatives Review Process, $15 Million Development Drilling Financing Facility and provides an Operational Update
Toronto Stock Exchange: SCS
Common Shares: 83,989,631
CALGARY, May 8, 2012 /CNW/ -
Second Wave Petroleum Inc.
("Second Wave" or the "Company") announced today the conclusion
of its strategic alternatives review process, a new $15 million
development drilling facility with its major shareholder,
Brookfield Bridge Lending Fund Inc., and a general operations
update on its Beaverhill Lake light oil drilling program in
Judy Creek, Alberta.
Strategic Alternatives Review Process
Second Wave's Board of Directors have elected to terminate the corporate strategic alternatives review process, announced on February 28, 2012, as the process did not result in a proposal that reflects the long-term value of Second Wave's Pekisko and Beaverhill Lake oil assets. Since announcement of the Company's process, the equity markets have weakened substantially, while the Company's recent drilling success on its Beaverhill Lake light oil play in Judy Creek has exceeded expectations, as outlined below, and has added considerable long-term value for its shareholders. In the Company's view, this combination of factors has made a transaction that properly reflects the underlying value of the Company's assets currently unavailable.
Second Wave is in the unique position of assembling two distinct significant oil resource plays in Judy Creek, Alberta. The Beaverhill Lake and Pekisko formations combined represent a total unrisked drilling inventory exceeding 700 net wells. Corporate production rates in May have reached 3,500 boe/d (80% oil and natural gas liquids) based on field estimates and recent test results in the Company's southeast land block have exceeded expectations with peak daily gross rates ranging from 2,400 to 5,400 boe/d and ten-day average gross test rates in excess of 1,000 boe/d. In light of these results the Company has agreed to a $15 million secured development drilling facility with its major shareholder, Brookfield Bridge Lending Fund Inc., to maintain, and potentially accommodate an acceleration of its Beaverhill Lake light oil drilling program later in 2012. Closing of the new facility is subject to customary conditions and definitive documentation. The development facility, together with the Company's current $90 million bank line, positions Second Wave to execute on its current development plans with a view to growing shareholder value.
Operational Update
Second Wave continued its positive momentum in its Judy Creek Beaverhill Lake light oil drilling program while successfully delineating its land block in the area. The Company has now spud its 36th gross (16.8 net) Beaverhill Lake light oil well and completed 30 gross (14.4 net) wells, of which 28 gross (13.6 net) are currently set up to produce using pumpjacks and two wells (0.8 net) are currently flowing during their initial test period. The Company currently has five gross wells that either reside outside of its Judy Creek core area or were completed using acid squeeze techniques instead of acid fracture techniques. Excluding these wells the average Beaverhill Lake light oil well has now produced for 140 days with cumulative light oil production and a current production rate of approximately 32,000 bbls and 165 bbl/d, respectively. Average initial 30-day production rates for these wells have exceeded 600 boe/d.
A summary of the most recent initial test results as of May 8, 2012 have been presented in the table below.
Working
Interest Status Peak Daily
Gross Oil
Rate
(bbl/d) Days on
Production Current
Gross Oil
Rate
(bbl/d) Gross
Cumulative Oil
Production
(bbl)
102/07-09-063-09W5 40% Pumping 820 25 95 3,500
100/16-29-063-09W5 40% Pumping 2,550 55 220 14,000
100/04-35-063-10W5 40% Pumping 500 31 160 3,600
100/05-07-063-09W5 40% Pumping 1,425 22 158 14,600
100/06-17-063-09W5 40% Flowing 5,400 16 600 30,000
100/13-20-063-09W5 40% Pumping 3,600 34 240* 30,000
100/05-28-063-09w5 40% Pumping 2,400 11 240* 10,000
100/13-18-063-09W5 40% Pumping 2,450 11 240* 10,500
102/05-13-063-10W5 40% Flowing 5,400 7 1,650 20,000
100/04-34-064-09W5 40% Waiting on Completion
100/02-21-063-09W5 40% Waiting on Completion
100/03-31-062-09W5 40% Waiting on Completion
100/03-20-063-09W5 40% Waiting on Completion
100/01-23-063-10W5 40% Drilling
100/05-05-063-09W5 40% Drilling
*Wells producing at MRL restricted rates
In total the Company now has approximately 2,800 boe/d of net Beaverhill Lake production comprised of 1,900 boe/d associated with post flush production attributed to 28 gross pumping oil wells and an additional 900 boe/d associated with two wells in their initial inline test periods. An additional two to three completions are scheduled in May with completions for the remainder of the year planned at three per month.
The Company expects its stable pumping volumes to increase over the remainder of the year with its flowing volumes fluctuating depending on completion timing and individual well results. Total current corporate production for May has reached 3,500 boe/d (80% oil and natural gas liquids) based on field estimates with the non Beaverhill Lake volumes totalling approximately 700 boe/d.
The Company cautions that test results are not necessarily indicative of long-term performance or ultimate recovery.
In January 2012 the Company received direction from the Alberta Energy Resources Conservation Board that its Judy Creek Beaverhill Lake drilling program had progressed to a lower risk development project from a higher risk exploration project. The shift from an exploration program to a development program resulted in the Company having to complete all of its post-fracture stimulation flow testing inline after expiry of an initial 72-hour test period whereas previously the Company had flared the gas from its delineation wells for extended test periods ranging from 5 to 60 days post-completion. The shift to inline testing from single well battery testing and flaring truncated and delayed the Company's Beaverhill Lake testing program in January and early February as the Company moved to complete the facilities (field compression, separation, pumpjacks, etc.) and pipelines necessary to flow test wells inline or to convert flowing wells to pumping wells to comply with these testing constraints. This shift in well testing requirements and the resulting timelines to complete the associated facility and operational projects significantly contributed to a drop in corporate Beaverhill Lake production rates of approximately 900 boe/d month-over-month in January with additional downtime or delays experienced in early February. Short term corporate production rates were negatively impacted by these testing requirements with January, February and March production rates of 1,517, 2,346 and 2,530 boe/d, respectively. Production for the month of April is estimated at 3,000 boe/d with current production rates in May estimated at 3,500 boe/d.
Year to date the Company has drilled and rig released 15 gross (7.2 net) wells with an additional 2 gross (0.8 net) wells currently drilling. The Company has continued to optimize its drilling techniques and has been able to significantly reduce the time and costs over the last 12 months. The Company has reduced its average drilling cycle time on its last ten Beaverhill Lake horizontal wells to 23 days from spud to rig release from the previous average cycle time of 28 days. This reduction in drilling cycle times has resulted in a natural acceleration of the Company's drilling program as it was able to drill and complete approximately 3.9 gross Beaverhill Lake wells per month for the first four months of 2012 versus its budgeted pace of 3.0 gross wells per month. The Company had drilled and cased 10 gross wells in the first quarter of 2012 and rig released an additional 3 gross wells during the first week of April for a total of 13 gross (6.4 net) wells being drilled in the first 14 weeks of the year. As a result of improved drilling cycle times going forward the Company and its Beaverhill Lake joint venture partners have chosen to reduce its drilling program in Judy Creek down to two rigs with an ability to increase its rig count at a later date if needed. The Company expects that an additional three joint venture earning wells will be drilled by its partners in 2012 with Second Wave contributing 15% of the drilling and completions capital to retain a 40% residual working interest in the wells and the associated earning land blocks. The Company's joint venture partner, Crescent Point Energy Corp., initiated operatorship of the capital drilling and completion program in the second quarter of 2012.
Exiting the first quarter the Company has witnessed a reduction in the level of industry activity in north western Alberta, which it anticipates may create potential downward pressure on service costs for the remainder of 2012. In particular, a substantial amount of the Company's capital is spent on its completion operations with acid and the associated pumping services having historically been secured at a premium. As the greater Judy Creek Beaverhill Lake development unfolds, however, the Company has noticed an increase in both the availability of acid in the area as well as the number of service providers competing for this work. These industry dynamics coupled with Crescent Point's purchasing power relative to Second Wave's are expected to result in further increased capital efficiencies in 2012.
Results from the Company's Beaverhill Lake play continue to deliver strong production growth for the Company with corporate production from this asset increasing from zero in the first quarter of 2011 to approximately 2,800 boe/d (90% light oil) currently based on field estimates. The directors, management and staff of Second Wave remain committed to further developing its two oil resource plays in the Beaverhill Lake and Pekisko formations in Judy Creek. The Company anticipates that it will report its first quarter financial information on May 15, 2012 with additional operational updates to follow in the second quarter as results dictate.
READER ADVISORIES
Barrels of Oil Equivalent (BOEs). The term BOE refers to barrel of oil equivalent, with natural gas converted to crude oil equivalent at a ratio of six thousand cubic feet to one barrel. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of six mcf (six thousand cubic feet) to one bbl (one barrel) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Forward-Looking Statements. This news release contains forward-looking statements as to the Company's internal projections, expectations and beliefs relating to future events or circumstances. Forward-looking statements are typically (but not necessarily) identified by words such as "anticipate", "believe", "budget", "estimate", "expect", "plan", "intend", "potential", "may", "will", "should" or similar words suggesting future outcomes. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on them as they are subject to known and unknown risks and uncertainties, many of which are beyond the Company's control. Forward-looking statements are not guarantees of future outcomes. There can be no assurance that the plans, intentions or expectations contained in the forward-looking statements or upon which they are based will in fact occur or be realized, and actual results may differ from those expressed or implied in the forward-looking statements. The difference may be material.
Second Wave is subject to the inherent risks associated with the exploration, development, exploitation and production of oil and gas. More particularly, material risk factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in this news release include: adverse changes in commodity prices, interest rates or currency exchange rates; accessibility of capital when required and on acceptable terms; lower than expected production of crude oil and natural gas; production delays; lower than expected reserve volumes on the Company's properties; increased operating costs; ability to attract and retain qualified personnel or to secure drilling rigs and other services on acceptable terms; competition for labour, equipment and materials necessary to advance the Company's projects; unforeseen engineering, environmental or geological problems; ability to obtain all required regulatory approvals on a timely basis and on satisfactory terms; and changes in laws and governmental regulations (including with respect to taxes and royalties). This list is not exhaustive. Readers should also review the risk factors described in other documents filed by the Company from time to time with securities regulatory authorities in Canada, including its most recent annual information form, copies of which are available electronically at www.sedar.com and at www.secondwavepetroleum.com.
Specific forward-looking statements contained in this news release include statements regarding: future growth in shareholder value generally; closing of the $15 million development drilling credit facility with Brookfield Bridge Lending Fund Inc.; the potential for accelerating the Beaverhill Lake drilling program; the scheduled number and pace of completions this month and for the remainder of 2012; expected increases in stable pumping volumes during 2012; the ability to increase rig count in the future; expectations regarding downward pressure on service costs for the remainder of 2012; the availability of acid and number of competing service providers in the Judy Creek area; expected increase in capital efficiencies in 2012. In making such forward-looking statements, Second Wave has made various assumptions regarding, among other things: the accuracy of geological and geophysical data and interpretations of that data; future oil and natural gas prices; future capital requirements; future exchange rates; the accessibility and cost of capital (including credit); the Company's ability to economically produce oil and gas from its properties and the timing and cost to do so; and its ability to obtain qualified staff, equipment and supplies in a timely and cost-efficient manner.
The forward-looking statements included herein are made as of the date of this news release and Second Wave undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by securities laws.
Colin B. Witwer, President and CEO
Randy Denecky, VP, Finance and CFO
Second Wave Petroleum Inc.
Calgary, Alberta, Canada
Telephone: (403) 451-0165
Email: info@secondwavepetroleum.com
Web: http://www.secondwavepetroleum.com
http://tmx.quotemedia.com/article.php?newsid=51071365&qm_symbol=SCS
Second Wave Petroleu (SCS)
2.73 ? -0.12 (-4.21%)
Volume: 158,600 @ 3:59:30 PM ET
Bid Ask Day's Range
2.72 2.74 2.65 - 2.85
TSE:SCS Detailed Quote Wiki
Crude Oil Volatility Index -
http://tmx.quotemedia.com/article.php?newsid=48854312&qm_symbol=SCS
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
very very interesting co.
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS)
Second Wave Petroleu (SCS) fiat$3.66 UP $0.06 +1.67%
Volume: 544,900 @ 4:00:00 PM ET good demand
Bid Ask Day's Range
3.61 3.66 3.54 - 3.66
TSE:SCS Detailed Quote Wiki
Second Wave Petroleum Inc. Announces 2011 Year End Reserves and Strategic Alternatives Review Process
Toronto Stock Exchange: SCS
83,986,964 Common Shares
http://tmx.quotemedia.com/article.php?newsid=48854312&qm_symbol=SCS
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
Second Wave Petroleum Inc. Announces 2011 Year End Reserves and Strategic Alternatives Review Process
Toronto Stock Exchange: SCS
83,986,964 Common Shares
http://tmx.quotemedia.com/article.php?newsid=48854312&qm_symbol=SCS
CALGARY, Feb. 28, 2012 /CNW/ -
Second Wave Petroleum Inc.
(TSX: SCS) ("Second Wave" or the "Company") is pleased to announce the results of its independent reserves evaluation as of December 31, 2011 and the initiation of a strategic alternatives review process with a view of enhancing shareholder value due to unsolicited expressions of interest.
In this news release, unless otherwise stated, all reserves are expressed on a company gross basis before deduction of royalties, and all estimates of net present value are based on forecast prices and costs and discounted at 10%.
Highlights:
The Company increased its proved plus probable ("P+P") reserves by 87% year-over-year to 10,950 mboe (approximately 72% oil and natural gas liquids). Estimated net present value of P+P reserves increased by 112% year-over-year to $192.9 mm.
P+P reserves associated with the Beaverhill Lake formation in Judy Creek increased to 4,127 mboe (approximately 90% oil and natural gas liquids) with an estimated net present value of $114.9 mm at year end 2011. No reserves were assigned to the Beaverhill Lake play at year end 2010.
By year end 2011 the Company had drilled or was drilling 21.0 gross (10.8 net) Beaverhill Lake horizontal light oil wells with P+P reserves assigned to a total of 50.0 gross (22.4 net) wells, representing 16% of the Company's net unrisked Beaverhill Lake drilling inventory of 144 drilling locations in Judy Creek.
Average P+P reserves assigned per horizontal Beaverhill Lake well, including 2011 production, was approximately 190 mboe with an estimated net present value of $5.7 mm per well. No reserves have been attributed to secondary or tertiary recovery in the Beaverhill Lake formation.
Finding and development ("F&D") costs in 2011 were $27.80 per boe of P+P reserves and $43.80 per boe of proved reserves on capital spending of $45.2 mm, excluding land and seismic but including changes to estimated future development costs. A recycle ratio of 1.8:1 was achieved based on P+P reserves and using estimated fourth quarter corporate operating netbacks of $49.00 per boe. The Company spent $12.1 mm in 2011 on its gas plant, oil batteries and gathering systems in Judy Creek with a view to the development of its currently-booked reserves and the potential for future development of additional resources.
In response to certain expressions of interest the Company's board of directors has initiated a process to identify, examine and consider strategic alternatives available to the Company with a view to enhancing shareholder value. Second Wave has engaged RBC Capital Markets as its financial advisor to assist in this process.
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
Second Wave Petroleu (SCS) fiat$3.56 UP $0.07 +2.01%
Volume: 853,500 @ 1:09:00 PM ET Strong Demand
Bid Ask Day's Range
3.56 3.57 3.5 - 3.59
TSE:SCS Detailed Quote Wiki
SCS:TSE
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
Second Wave Petroleu (SCS) fiat$3.49 UP $0.02 +0.58%
Volume: 3,233,500 @ 3:59:50 PM ET Strong Demand
Bid Ask Day's Range
3.49 3.5 3.42 - 3.59
TSE:SCS Detailed Quote Wiki
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
Second Wave Petroleu (SCS) fiat$3.42 UP $0.4 +13.25%
Volume: 4,407,200 @ 2:01:59 PM ET Strong Demand
Bid Ask Day's Range
3.41 3.42 3.32 - 3.52
TSE:SCS Detailed Quote Wiki
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
i think need to build some new refineries.
SECOND WAVE PETROLEUM LTD CL A (TSE:SCS) Presentation -
http://www.secondwavepetroleum.com/investor/presentation_events.html
mick thanks for chart,
what energy plays do you recommend?
http://www.secondwavepetroleum.com/documents/pres/SCS-Presentation-2012-02.pdf
http://www.secondwavepetroleum.com/index.html
God Bless
Second Wave Petroleum Inc. Provides Update on Judy Creek Beaverhill Lake Light Oil Drilling Program
Toronto Stock Exchange: SCS
83,986,964 Common Shares
CALGARY, Feb. 13, 2012 /CNW/ -
Second Wave Petroleum Inc.
(TSX:SCS) ("Second Wave" or the "Company") is pleased to provide an update on its Judy Creek Beaverhill Lake light oil drilling program.
http://tmx.quotemedia.com/article.php?newsid=48371775&qm_symbol=SCS
Highlights
Completed its first three well pad in the Beaverhill Lake formation with initial three day flow rates from its 15-22-063-10W5, 16-24-063-10W5 and 01-25-063-10W5 wells estimated at 1,470 bbl/d, 1,250 bbl/d and 1,450 bbl/d, respectively, of light oil. These three light oil wells were drilled from the surface location of 01-26-063-10W5 and Second Wave has a 40% working interest in each well.
Completed the first of two wells from its surface pad located at 13-06-064-09W5 with the 13-01-064-10W5 well (40% working interest) testing at an initial flow rate estimated at 1,625 bbl/d of light oil over a seven day test period. The second well on the 13-06 pad has been drilled and is scheduled to be completed and flow tested in late February.
Completed its 100% working interest 01-17-062-10W5 Beaverhill Lake light oil well in south Judy Creek with an initial two day flow test rate estimated at 800 bbl/d of light oil further delineating the Company's south Judy Creek land base. The Company is continuing to flow test the 01-17 well at the time of this release.
Drilled, completed and brought on production its first successful exploration well on its south east Judy Creek land block with an initial five day flow test rate at its 10-05-063-09W5 well (40% working interest) estimated at 400 bbl/d of light oil.
To date in Judy Creek, the Company has drilled, completed and brought on production 18.0 gross (9.0 net) horizontal Beaverhill Lake oil wells with 6.0 gross (3.0 net) wells waiting on completions and 3.0 gross (1.2 net) wells currently drilling. Average flow test rates to date have exceeded 600 bbl/d per well over test periods ranging from three to sixty days.
The Company cautions that test results are not necessarily indicative of long-term performance or ultimate recovery.
Operations Update
During the first quarter of 2012 the Company has been operating three drilling rigs dedicated to the Beaverhill Lake formation in Judy Creek. To date the Company has drilled, completed and brought on production 18.0 gross (9.0 net) horizontal Beaverhill Lake oil wells, with 6.0 gross (3.0 net) wells standing waiting on completions and 3.0 gross (1.2 net) wells currently being drilled. Average initial flow rates to date for the 18 completed wells have exceeded 600 bbl/d per well over test periods ranging from three to sixty days. Of these wells, 5.0 gross (2.6 net) Beaverhill Lake oil wells have been completed in 2012 and Second Wave is currently scheduled to complete an additional four wells per month for the remainder of 2012. Our accelerated completion schedule is the result of shorter production flow test periods on new wells as the Company has begun to accelerate its pipeline and well site construction schedules to accommodate an overall reduction in its cycle times and capital costs as it transitions to a full developmental drilling program in the Beaverhill Lake formation.
In the fourth quarter of 2011 the Company drilled its first three well pad in the Beaverhill Lake formation from the surface location of 01-26-063-10W5. Completion operations on this pad occurred in January of 2012 with initial three day flow test rates from its 15-22-063-10W5, 16-24-063-10W5 and 01-25-063-10W5 wells estimated at 1,470 bbl/d, 1,250 bbl/d and 1,450 bbl/d, respectively, of light oil. Second Wave holds a 40% working interest in these three light oil wells.
The Company cautions that short flow test results may not necessarily be indicative of long-term performance or ultimate recovery.
In February, the Company completed the first of two wells off of its multi-well pad located at the surface location of 13-06-064-09W5 with an initial seven day flow test rate from the 13-01-064-10W5 well (40% working interest) estimated at 1,625 bbl/d of light oil. The second well that was drilled off of this pad to the bottom hole location of 13-05-064-09W5 (40% working interest) is currently standing and is scheduled to be completed and flow tested in February.
Production from the 01-26-063-10W5 and the 13-06-064-09W5 pads have been pipelined connected to Second Wave's operated oil batteries at 08-24-063-10W5 and 04-31-063-10W5, respectively, with solution gas processed at the Company's operated gas plant located at 08-24-063-10W5. Initial production from these two pads is scheduled to occur in February after pumpjacks and surface facilities have been installed at the well sites. The Company expects gross initial production rates on the above noted four wells to be restricted at 225 bbl/d of light oil by surface pumping capacities and maximum rate limitations.
Results from the above noted four completed wells have met the Company's expectations and management believes further substantiate the Beaverhill Lake reservoir quality on the west side of Second Wave's land base in Judy Creek.
In the south portion of its Judy Creek land base the Company has successfully completed 2.0 gross wells (1.4 net) with the 01-17-062-10W5 (100% working interest) and 10-05-063-09W5 (40% working interest) wells testing at initial flow rates over a two and five day period estimated at 800 bbl/d and 400 bbl/d, respectively, of light oil.
As a result of down hole mechanical issues the 10-05-063-09W5 (40% working interest) horizontal well was not fracture stimulated as down hole limitations required lower acid pumping rates and pressures. The 10-05 and 01-17 wells will come on production to single well battery's in the first quarter of 2012. The Company believes that both wells will have initial 30 day pumping production rates of 150 to 200 bbl/d of light oil. The Company is following up its success in this area with an additional two wells at 05-07-063-09W5 and 07-09-063-09W5 which are standing waiting on completion and a third well drilling at 13-30-062-09W5. The Company holds a 40% working interest in all three wells and expects them to be completed and on production in the first half of 2012.
Results from the 10-05 and 01-17 wells have met the Company's expectations and have set-up an additional 10 to 20 gross (33 to 100% working interest) section light oil development program in the Company's south Judy Creek land block. The Company has an active drilling program in this area planned for 2012 with 5 to 10 additional Beaverhill Lake horizontal oil wells forecast to be drilled in 2012.
Outlook
The Company continues to gain momentum with its light oil Beaverhill Lake drilling program in Judy Creek. Corporate production and netbacks in the fourth quarter of 2011 are estimated at 2,175 boe/d (77% oil and natural gas liquids) and $49.00 per boe, respectively, based on unaudited financial and operating data. The Company's Beaverhill Lake production is estimated to have increased to approximately 1,200 boe/d in the fourth quarter from 484 boe/d in the third quarter. Operating netbacks on its Beaverhill Lake production exceeded $75.00 per boe in the fourth quarter based on unaudited financial and operating data.
The Company estimates its current production based on field estimates to be approximately 3,000 boe/d (80% oil and natural gas liquids). For the remainder of the first half of 2012 the Company expects its corporate production to fluctuate between a base level of 2,500 and 3,500 boe/d (80% oil and natural gas liquids) depending on a number of variables including frac schedules, flow test lengths, pipeline construction and single well battery construction cycle times as well as general spring break-up related delays.
Second Wave believes it is positioned to meet its previously announced 2012 production exit target of 5,000 boe/d (80% oil and natural gas liquids) with its Beaverhill Lake production expecting to reach approximately 4,000 boe/d by year end. The Company anticipates drilling 39 gross (16.8 net) Beaverhill Lake light oil horizontal wells in 2012. As additional light oil volumes come on production in 2012 the Company expects its operating netbacks to continue to increase throughout the remainder of the year.
The Company anticipates providing a further operational update as year-end financial and reserve information is released later in the first quarter of 2012.
READER ADVISORIES
Barrels of Oil Equivalent (BOEs). The term BOE refers to barrel of oil equivalent, with natural gas converted to crude oil equivalent at a ratio of six thousand cubic feet to one barrel. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of six mcf (six thousand cubic feet) to one bbl (one barrel) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Forward-Looking Statements. This news release contains forward-looking statements as to the Company's internal projections, expectations and beliefs relating to future events or circumstances. Forward-looking statements are typically (but not necessarily) identified by words such as "anticipate", "believe", "budget", "estimate", "expect", "plan", "intend", "potential", "may", "will", "should" or similar words suggesting future outcomes. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on them as they are subject to known and unknown risks and uncertainties, many of which are beyond the Company's control. Forward-looking statements are not guarantees of future outcomes. There can be no assurance that the plans, intentions or expectations contained in the forward-looking statements or upon which they are based will in fact occur or be realized, and actual results may differ from those expressed or implied in the forward-looking statements. The difference may be material.
Second Wave is subject to the inherent risks associated with the exploration, development, exploitation and production of oil and gas. More particularly, material risk factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in this news release include: adverse changes in commodity prices, interest rates or currency exchange rates; accessibility of capital when required and on acceptable terms; lower than expected production of crude oil and natural gas; production delays; lower than expected reserve volumes on the Company's properties; increased operating costs; ability to attract and retain qualified personnel or to secure drilling rigs and other services on acceptable terms; competition for labour, equipment and materials necessary to advance the Company's projects; unforeseen engineering, environmental or geological problems; ability to obtain all required regulatory approvals on a timely basis and on satisfactory terms; and changes in laws and governmental regulations (including with respect to taxes and royalties). This list is not exhaustive. Readers should also review the risk factors described in other documents filed by the Company from time to time with securities regulatory authorities in Canada, including its most recent annual information form, copies of which are available electronically at www.sedar.com and at www.secondwavepetroleum.com.
Specific forward-looking statements contained in this news release include statements regarding: the Company's ability to internally process all of its Beaverhill Lake emulsion by the end of 2011 and the consequential reduction in operating costs; the number of wells expected to be completed in 2011 and standing awaiting completion at year end; the estimated production rate for the fourth quarter of 2011; and average and exiting production rates forecast for 2012. In making such forward-looking statements, Second Wave has made various assumptions regarding, among other things: the accuracy of geological and geophysical data and interpretations of that data; future oil and natural gas prices; future capital requirements; future exchange rates; the accessibility and cost of capital (including credit); the Company's ability to economically produce oil and gas from its properties and the timing and cost to do so; and its ability to obtain qualified staff, equipment and supplies in a timely and cost-efficient manner.
The forward-looking statements included herein are made as of the date of this news release and Second Wave undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by securities laws.
Colin B. Witwer, President and CEO
Randy Denecky, VP, Finance and CFO
Second Wave Petroleum Inc.
Calgary, Alberta, Canada
Telephone: (403) 451-0165
Email: info@secondwavepetroleum.com
Web: www.secondwavepetroleum.com
Second Wave Petroleu (SCS)
2.97 ? -0.09 (-2.94%)
Volume: 319,000 @ 3:59:52 PM ET
Bid Ask Day's Range
2.97 2.99 2.92 - 3.07
TSE:SCS Detailed Quote Wiki
The Bakken: Canada's Hottest Oil Play
...And the junior oil stock that could be its next big payout
Wednesday, December 28, 2011
It's one of North America's biggest oil discoveries ever.
Straddling both sides of the U.S.-Canada border, the Bakken oil formation holds billions of barrels of oil that can now be recovered... thanks to the new technologies that make it all happen.
As a result, in the last few years, countless investors have made absolute fortunes from the Bakken...
Brigham Exploration's (BEXP) share price skyrocketed from $2 a share in 2009 to the $30 range recently...
Northern Oil & Gas (NOG) catapulted from $3 a share in 2009 to the $20 range today...
Kodiak Oil (KOG) – another junior oil producer in the Bakken – climbed from under $1 a share just a few years ago to over $7 of late...
That's why one of the questions I get most frequently from my subscribers is, “What's the next Bakken stock to pop?”
My answer is this... There's a little-known junior oil producer – operating in the new sweet spot in the Bakken – with great operational success and even greater upside potential.
Not only does it have a large underdeveloped land position of low-cost oil – along with a successful, experienced management team – It also has a bonus play (more on that below) that could make this company a huge winner.
What's more, it could easily be the next Bakken oil & gas company to get bought out. (And if it doesn't, production should rise steadily and quickly over the coming years.)
And in my brand-new report, you'll learn the name of this company, as well as my full 12 pages of research on this play. Keep in mind, I can only make this report available for a short time before I take it off the Web, and reserve it for my paid-up subscribers.
Until then, it's yours to keep.
Second Wave Petroleu (SCS)
2.4 ? -0.04 (-1.64%)
Volume: 56,700 @ 3:56:54 PM ET
Bid Ask Day's Range
2.38 2.43 2.4 - 2.5
TSE:SCS Detailed Quote Wiki
Second Wave Petroleu (SCS)
2.66 ? 0.0 (0.00%)
Volume: 53,600 @ 3:59:33 PM ET
Bid Ask Day's Range
2.65 2.66 2.61 - 2.7
TSE:SCS Detailed Quote Wiki
Second Wave Petroleu (SCS)
2.68 ? -0.06 (-2.19%)
Volume: 128,400 @ 3:59:16 PM ET
Bid Ask Day's Range
2.63 2.69 2.56 - 2.72
TSE:SCS Detailed Quote
pretty good reading;
re;
Lindsey Williams The Energy Non Crisis
20 Jun 2011 ... tracking Lindsey William the energy
non crisis Peak Oil and much More.
http://lindseywilliams101.blogspot.com/
Lindsey Williams The Energy Non Crisis
20 Jun 2011 ... tracking Lindsey William the energy
non crisis Peak Oil and much More.
http://lindseywilliams101.blogspot.com/
how long will oil ppb stay in $90 range?
Second Wave Petroleu (SCS)
2.52 ? -0.06 (-2.33%)
Volume: 136,300 @ 4:26:00 PM ET
Bid Ask Day's Range
2.49 2.52 2.25 - 2.63
TSE:SCS Detailed Quote
where did second wave close today?
Second Wave Petroleum Inc. Announces Filing of 2011 First Quarter Financial Results
http://www.cnxmarketlink.com/en/releases/archive/June2011/14/c5959.html
TSX Venture Exchange: SCS 82,899,295 Common Shares
CALGARY, June 14, 2011 /CNW/ - Second Wave Petroleum Inc. ("Second Wave"
or the "Company") is pleased to announce the filing of its interim financial
statements and management's discussion and analysis ("MD&A") for the quarter
ended March 31, 2011, which have been filed on SEDAR at www.sedar.com and are
also available on the Company's website at www.secondwavepetroleum.com.
Year to Date Highlights
<<
-- Obtained Judy Creek Pekisko Resource Assessment, effective April 30,
2011, with third party estimates of Total and Recoverable Petroleum
Initially in Place in the Pekisko formation under Second Wave's 100%
working interest lands at Judy Creek as described in the Company's news
release dated May 17, 2011.
-- Signed a strategic joint venture and farm out agreement focused on its
Judy Creek Beaverhill Lake light oil play pursuant to which the Company
will pay 15% of the drilling and completion costs on the first 13
potential earning wells to retain a 40% working interest in 50,000 acres
of joint venture lands. The first joint venture well (40% working
interest) was tested in the second quarter at gross rates of 1,825 boe/d
(86% oil) over a 15 day period and is currently pumping to permanent
facilities at rates of approximately 350 boe/d after cumulative oil
production of approximately 32,000 bbls. The second well has been
drilled and is awaiting completion and testing.
-- Disposed of 400 boe/d of non-core production effective February 1, 2011
for total consideration of $16.0 million. The disposition was accretive
to Second Wave on all 2011 metrics and further focuses the Company on
its Judy Creek oil plays.
-- Restarted the Judy Creek gas plant on February 8, 2011 following fire
damage that occurred in December 2010. During the two-month outage the
plant was rebuilt and improved to facilitate future development
activities.
>>
Selected First Quarter Financial Information
<<
Three months ended December
Three months ended March 31, 31,
($000s, except share % Change
and per boe amounts) 2011 2010 2010 % Change *
Petroleum and natural 6,015 (5)
gas sales 6,342 5 6,656
Royalties (657) (740) (11) (715) (8)
Lease Operating Costs (3,193) (2,349) 36 (2,634) 21
Transportation (228) (156) 46 (211) 8
Operating netback 2,264 2,770 (18) 3,096 (27)
Operating netback per (31)
boe 17.68 25.52 22.44 (21)
Net capital (86)
expenditures 1,275 18,836 27,315 (90)
Net Income (loss) (2,495) 2,754 - (6,857) 64
Cash flow from -
operating activities
per share - 0.03 0.02 -
Net income (loss) per -
share (0.03) 0.04 (0.08) (63)
Production volumes
Oil (bbl/d) 724 672 8 851 (15)
Natural gas liquids 114
(bbl/d) 92 43 73 26
Natural gas (mcf/d) 3,641 2,952 23 3,452 5
Combined (boe/d) (6:1) 1,423 1,206 18 1,500 (5)
Crude oil and liquids (3)
weighting (%) 57 59 62 (8)
>>
Operating Results in the first quarter were negatively impacted by the
following one time events:
<<
1. As previously announced the Company's Judy Creek gas plant was damaged
significantly by a fire on December 10, 2010. As a result of this damage
the Company shut in approximatley 1,650 boe/d of net production until
repairs could be made. The net impact of this lost production exceeded 800
boe/d for the quarter. Upon completing the required repairs and receiving
all regulatory approvals the Company started up the new plant on February
8, 2011 and systematically re-activated its Judy Creek wells over the
following four weeks. During the repair period the Company retained all of
its field staff and related services to facilitate the start up of the
field in February 2011.
2. The Company completed the disposition of its non-core Provost property in
south eastern Alberta in the first quarter for total proceeds of $16.0
million, consisting of $13.0 million cash and a $3.0 million secured note
payable to Second Wave on or prior to August 15, 2012, subject to
adjustment in certain circumstances. The disposition was effective as of
February 1, 2011 with the production from the Provost asset estimated at
approximately 400 boe/d at the time of disposition.
>>
Subsequent to quarter end the Company estimates its average production
rate for the month of April was approximately 1,927 boe/d (59% oil and natural
gas liquids) representing a 35% increase from the first quarter average.
Operating revenue, excluding royalties, for the month of April is estimated at
$3.4 million while operating costs per boe and netbacks per boe for the month
are estimated at $20.24 per boe and $38.46 per boe, respectively.
Operations Update
Judy Creek Beaverhill Lake Light Oil Play
Pursuant to its previously announced Beaverhill Lake joint venture
agreement, the Company has now drilled its first two (0.8 net) Beaverhill Lake
horizontal oil wells in 2011. The first well (0.4 net), located at
15-36-063-10W5, tested at rates of 1,825 boe/d (86% oil) over a 15 day period
and is currently pumping to permanent facilities at rates of approximately 350
boe/d after cumulative oil production of approximately 32,000 bbls. Production
from the 15-36 well is currently limited due to surface pumping capacity and
management intends to monitor the operations of the well over the next few
months to determine if a larger pumping system is required. The second well
(0.4 net) has been drilled and cased and is currently awaiting completion and
subsequent tie-in.
The Company anticipates drilling a total of 14 gross (5.6 net) Beaverhill
Lake wells within its Judy Creek joint venture lands in 2011, inclusive of the
two (0.8 net) wells drilled to date in 2011. The Company estimates that ten
(4.0 net) of these wells will be earning wells under the terms of its joint
venture agreement and four (1.6 net) will be development wells. Second Wave
will pay 15% of the drilling and completion capital costs on all earning wells
to retain a 40% working interest in the wells and the associated 3,840 acre
earning land blocks. The joint venture agreement provides for up to 13 earning
wells. Each of the two Beaverhill Lake wells drilled to date in 2011 are
earning wells. Second Wave will pay its proportionate 40% working interest
share on all development wells drilled on previously earned land blocks. In
Judy Creek the Company currently has 50,000 gross acres of Beaverhill Lake
mineral rights within the area covered by the joint venture agreement. The
Company also holds or has an option on an additional 9,200 acres of Beaverhill
Lake mineral rights in Judy Creek at a 100% working interest outside of the
joint venture agreement area.
Judy Creek Pekisko Medium Oil Play
In 2011 the Company has made significant strides with its Judy Creek
Pekisko medium grade oil play. Subsequent to the end of the first quarter, the
Company obtained a third party resource assessment on its Judy Creek Pekisko
pool with estimates of Total and Recoverable Petroleum Initially in Place in
the Pekisko formation under Second Wave's 100% working interest lands at Judy
Creek . The Company previously announced the resource assessment findings on
May 17, 2011.
The Company is currently planning to recommence its Pekisko drilling
program at the end of the third quarter with up to six (6.0 net) Pekisko
horizontal wells to be drilled by year end 2011. To date one (1.0 net) well
has been drilled in 2011 and is awaiting completion. The Company expects that
all Pekisko wells drilled in 2011 and 2012 can be drilled off of existing
producing pads, which should facilitate reduced cycle times and lower capital
commitments per well than what had previously been experienced during the
delineation drilling phase.
The Company had eight (8.0 net) Pekisko horizontal oil wells at year end
with less than 30 days of production prior to the Judy Creek gas plant outage
commencing in December 2010. These eight (8.0 net) wells have continued to
meet management's expectations with aggregate production rates from the wells
increasing since the start up of the Company's gas plant in February.
Production from all eight wells is currently limited by surface pumping
capacity and the Company continues to monitor the performance of the wells to
evaluate the feasibility of optimization alternatives.
The Company will look to provide a further operational update in the
third quarter as both its Judy Creek Beaverhill Lake and Pekisko oil plays
progress.
READER ADVISORIES
Barrels of Oil Equivalent (BOEs). The term BOE refers to barrel of oil
equivalent, with natural gas converted to crude oil equivalent at a ratio of
six thousand cubic feet to one barrel. BOEs may be misleading, particularly
if used in isolation. A BOE conversion ratio of six mcf (six thousand cubic
feet) to one bbl (one barrel) is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.
Forward-Looking Statements. This news release contains forward-looking
statements as to the Company's internal projections, expectations and beliefs
relating to future events or circumstances. Forward-looking statements are
typically (but not necessarily) identified by words such as "anticipate",
"believe", "plan", "estimate", "expect", "plan", "intend", "potential", "may",
"will", "should" or similar words suggesting future outcomes. Although the
Company believes that these forward-looking statements are reasonable, undue
reliance should not be placed on them as they are subject to known and unknown
risks and uncertainties, many of which are beyond the Company's control.
Forward-looking statements are not guarantees of future outcomes. There can be
no assurance that the plans, intentions or expectations contained in the
forward-looking statements or upon which they are based will in fact occur or
be realized, and actual results may differ from those expressed or implied in
the forward-looking statements. The difference may be material.
Second Wave is subject to the inherent risks associated with the
exploration, development, exploitation and production of oil and gas. More
particularly, material risk factors that could cause actual results to differ
materially from those expressed or implied in the forward-looking statements
contained in this news release include: adverse changes in commodity prices,
interest rates or currency exchange rates; accessibility of capital when
required and on acceptable terms; lower than expected production of crude oil
and natural gas; production delays; lower than expected reserve volumes on the
Company's properties; increased operating costs; ability to attract and retain
qualified personnel or to secure drilling rigs and other services on
acceptable terms; competition for labour, equipment and materials necessary to
advance the Company's projects; unforeseen engineering, environmental or
geological problems; ability to obtain all required regulatory approvals on a
timely basis and on satisfactory terms; and changes in laws and governmental
regulations (including with respect to taxes and royalties). This list is not
exhaustive. Readers should also review the risk factors described in other
documents filed by the Company from time to time with securities regulatory
authorities in Canada, including its most recent annual information form,
copies of which are available electronically at www.sedar.com and at
www.secondwavepetroleum.com.
Specific forward-looking statements contained in this news release
include statements regarding: 2011 drilling plans generally; the number of
Beaverhill Lake wells to be drilled during 2011 on the Company's Judy Creek
joint venture lands, and the proportion thereof expected to be earning wells
and development wells; the timing for recommencement of the Pekisko drilling
program; the number of Pekisko wells to be drilled before the end of 2011; and
expected improvements in cycle times and capital commitments per well from
drilling future Pekisko wells off existing pads. In making such
forward-looking statements, Second Wave has made various assumptions
regarding, among other things: the accuracy of geological and geophysical data
and interpretations of that data; future oil and natural gas prices; future
capital requirements; future exchange rates; the accessibility and cost of
capital (including credit); the Company's ability to economically produce oil
and gas from its properties and the timing and cost to do so; and its ability
to obtain qualified staff, equipment and supplies in a timely and
cost-efficient manner.
The forward-looking statements included herein are made as of the date of
this news release and Second Wave undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by
securities laws.
To view this news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/June2011/14/c5959.html
-30-
/For further information:
Colin B. Witwer, President and CEO Randy Denecky, VP, Finance and CFO
Second Wave Petroleum Inc. Calgary, Alberta, Canada Telephone: (403)
451-0165 Email: info@secondwavepetroleum.com Web: www.secondwavepetroleum.com
/
More on this organization
SECOND WAVE PETROLEUM INC.
NEWS RELEASES NEWS RELEASES (25)
QUOTES AND CHARTS: SCS.(TSX-VEN)
Second Wave Petroleu (SCS)
2.57 ? -0.02 (-0.77%)
Volume: 98,700 @ 3:59:48 PM ET
Bid Ask Day's Range
2.54 2.57 2.54 - 2.64
TSE:SCS Detailed Quote
looks like we need his bearing thoughts again. gasoline not far from old hi's.
ppb now doesn'r show why need to beezzz near $5.00 in california.
SCS Presentation -
http://www.secondwavepetroleum.com/documents/pres/SCS-PPT-2011-03.pdf
again he seems to know the precious metal area.
re;
Lindsey Williams knows and very trust worthy
e.g., last time when crude was at it highest -
he said, it will go to $50 and he was right on -
with the price and time
God Bless
again he seems to know the precious metal area.
re;
Lindsey Williams
Lindsey Williams on Goldseek Radio 04/08/11
saudi, friends? only to get oil higher.
Second Wave Petroleu (SCS) fiat$2.6 UP $0.08 +3.17%
Volume: 1,325,059 @ 3:59:28 PM ET
Bid Ask Day's Range
2.55 2.6 2.55 - 2.73
TSE:SCS Detailed Quote
chart read in *V* pattern. could rally to $125 ppb.
New York Mercantile Exchange › CRUDE OIL May 2011 (E) (NYMEX:CL.K11.E)
113.08 +2.78 (+2.52%)
2011-04-08 17:14:09, 30 min delay
CRUDE OIL May 2011 (E) (NYMEX:CL.K11.E)
Last Price 113.08
Settle Time 14:33
Previous Close 110.38
Low 110.11
Open Int. 277837
Contract High 129.16
Contract Low 66
Estimated Volume 91789
Expiration 2011-04-19
Close Time 14:30
Net Change 2.78
Open 110.32
High 113.21
Volume 287,385
Time 2011-04-08 17:14:09
Contract High Date 2008-05-27
Contract Low Date 2008-12-16
First Delivery 2011-05-31
Open Time 09:00
chart read in *V* pattern. could rally to $125 ppb.
New York Mercantile Exchange › CRUDE OIL May 2011 (E) (NYMEX:CL.K11.E)
2011-04-08 00:55:02, 30 min delay
111.14 +0.84 (+0.77%)
dd....
http://tmx.quotemedia.com/quote.php?qm_symbol=scs
Second Wave Petroleu (SCS)
2.39 ? 0.19 (8.64%)
Volume: 1,075,507 @ 3:21:49 PM ET
Bid Ask Day's Range
2.38 2.4 2.23 - 2.42
TSE:SCS Detailed Quote
Second Wave Petroleu (SCS)
2.4 ? -0.02 (-0.83%)
Volume: 126,376 @ 3:58:57 PM ET
Bid Ask Day's Range
2.36 2.4 2.36 - 2.44
TSE:SCS Detailed Quote
Second Wave Petroleu (SCS)
2.56 ? 0.13 (5.35%)
Volume: 118,023 @ 1:39:56 PM ET
Bid Ask Day's Range
2.55 2.56 2.47 - 2.56
TSE:SCS Detailed Quote
Second Wave Petroleu (SCS)
2.46 ? 0.09 (3.80%)
Volume: 319,658 @ 3:58:40 PM ET
Bid Ask Day's Range
2.41 2.46 2.38 - 2.49
TSE:SCS Detailed Quote
Second Wave Petroleu (SCS)
2.72 ? 0.0 (0.00%)
Volume: -
Bid Ask Day's Range
- - - - -
EXCERPT; The "NEW" War That Could
Rocket Oil Past $220 Before 2011
ya can seeezzz why u.s.a. got control of oil and resources in iraq...
i guess saddam wasn't the subject of concern.
The 162-Million-Man March
Nobody knows exactly how many Shia there are right now in the Middle East. That's because in all but four Middle Eastern countries, Sunni leaders don't bother to count.
Sunni schools teach that Shiites aren't real Muslims. Shias don't get a seat in government. They can't become judges or even testify in high courts. In Sunni-run Saudi Arabia, Shias and Sunni can't even marry.
For centuries, the Shia have been the underclass.
But now, for the first time in history, they see this as their chance to turn the tide. And how big a tide is it? Hands down, saber-rattling Iran has the most — 70 million Shia.
But then you've got the "liberated" Shia of Iraq — 22 million. Plus as many as 2 million Shia in Iran-backed Lebanon. And up to 4 million Shia in Iran's top ally, Syria.
Then you've got another 700,000 Shia in Kuwait... up to 500,000 Shia in Bahrain... up to 400,000 Shia in the United Arab Emirates... 300,000 Shia in Oman... and around 100,000 Shia in Qatar, according to the Pew Research Center in Washington.
On top of that, as many as 10 million Shia in Yemen... another 7 million Shia in Azerbaijan... and 11 million Shia in Turkey... not to mention the combined 30 million Shia in Afghanistan and Pakistan.
Not all Shia want a revolution.
"New" Oil War Flashpoint #1:
The Real Reason Iran
Wants the Bomb
Don't forget, Iran used to be Persia.
At one point Persia was the biggest and most powerful empire in history!
Iraq, Syria, Turkey, Egypt — even Israel — the Persians controlled them all. Along with all of Afghanistan and Pakistan and most of the oil-rich coast of the Caspian.
For 300 years, Persian armies held off the Roman Empire. Their scholars walked with Aristotle and Plato. And influenced Greek art.
It was the Persians who invented chess. And the windmill.
Not to mention bricks, algebra, trigonometry, and wine.
The bottom line is... no Empire forgets its past glory.
The Iranians resent losing theirs.
But now they see a chance to get it back.
The nuclear bomb? Tehran's crackpot leaders don't just want it to scare Israel. They want it so they can throw a dark shadow over their Sunni Arab neighbors, too!
Take a look at this...
Iran's First Move...
You'll notice two things.
First, you'll see how Iran's Shia influence has spilled across the border into southern Iraq. Southern Iraq is where you'll find six of Iraq's eight "Supergiant" oil fields. It's also where you'll find a key border with Shia Islam's mortal enemy — Saudi Arabia.
Saudi Arabia is Sunni.
For eight years back in the 1980s, Saudi Arabia helped Iraq wage a bloody war against Iran. Along with other Sunni governments, the Saudis even gave Saddam over $47 billion to launch missiles and nerve gas attacks over the Iranian border.
Iran hasn't forgotten. Or forgiven.
(Imagine if Canada or Mexico had given money to Japan to help them bomb Pearl Harbor. Iran has waited to make the Saudis pay — and now they have their chance.)
The second thing you'll see in the map above is that Iran has almost total control over the Strait of Hormuz.
Hormuz is the tight waterway that connects the Persian Gulf to the Mediterranean. Over 17 million barrels of oil have to pass through Hormuz every day.
That's 40% of all the oil shipped in the world.
And 90% of all the daily oil shipments from the entire Middle East.
With Hormuz alone, Iran could cripple the world overnight.
Today, Iran backs Shia militants in Iraq. They give them money and guns. They've even helped Shia politicians take over the Iraqi government. Why?
Because gaining control in Iraq takes the Iranians one step closer in their twisted plot for secret revenge. For another one of those steps, just look further south... to Yemen.
Take a look at this last map...
The Final Battleground — Saudi Arabia!
Suddenly, Iran has its mortal enemy, Saudi Arabia, surrounded —
millions of Shia even live on top of the Saudis OWN biggest oilfields.
As you can see, Saudi Arabia looks like a sitting duck.
Iran has a Shia network that reaches from Afghanistan to Lebanon once again... more connections building along the Persian Gulf... Yemeni Shias to the south... and Shia connections along the oil rich Caspian Sea.
You could see this spread to the nearly two million Shia that live and work on Saudi Arabia's oil fields very soon. Even though that's exactly what the Saudis — and our own Pentagon — hope will never happen.
As you read this, big and small Gulf states are piling up weapons, stocking anti-missile batteries, and sandbagging their oil terminals, ports, and water desalinization plants...
Abu Dhabi alone has already bought $17 billion worth of U.S. anti-missile hardware. And the United Arab Emirates and Saudi Arabia just splurged on weapons, to the tune of $25 billion.
As you read this, our own F-16 fighter jets, Patriot missile systems, giant cruisers and up to 20,000 more U.S. troops are quietly digging in for an epic fight... that could spread past Iraq and Yemen... and even into Qatar, the United Arab Emirates, and Bahrain.
All to get ready for what could be the fight of a lifetime...
Say Hello to the "Jihad Generation"
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SECOND WAVE PETROLEUM INC. -
WELCOME:
Second Wave Petroleum Ltd. (formerly WaveForm Energy Ltd.)
is a newly capitalized junior oil and gas company focused
on exploration, development and acquisition of oil and
natural gas in Western Canada.
Second Wave Petroleum is focused on the exploration, development and acquisition of oil and natural gas production in Western Canada. As of December 30, 2007, the Company produces approximately 500 boe/d (65% oil, 35% gas) with the majority of the production coming from operated core areas at Provost and Tableland which produce 245 boe/d and 85 boe/d, respectively. Second Wave operates in excess of 75% of its current production base.
OPERATIONS:
Second Wave has received Board approval for its 2008 budget containing a $9.8 million capital program resulting in 14.0 gross (10.8 net) wells being drilled in 2008. Second Wave’s drilling program is heavily weighted to oil prospects with 10.0 gross (8.6 net) wells targeting oil bearing formations. The 2008 capital program has been mainly focused on lower risk developmental type drills however we have budgeted 4.0 gross (2.6 net) wells targeting exploration plays with substantial upside potential. Based on this drilling program, Second Wave would expect to grow its current production base of approximately 500 boe/d to an exit rate between 725 and 775 boe/d.
http://www.secondwavepetroleum.com/operations/overview.html
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