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[JonnyR512]

Slowly climbing up. WIth news on those other two wells being drilled, we should hit the mid teens IMO.

Level 2

Orders/Shares Price Price Shares/Orders

2 / 17000 0.09 0.1 12000 / 1
2 / 34000 0.08 0.11 10000 / 1
2 / 25000 0.07 0.14 91000 / 1
2 / 220000 0.06 0.15 40000 / 1
2 / 50000 0.05 0.47 10000 / 1

[JonnyR512]

From the MD&A, this was written before the Nov.4th news on additional 25bpd. But After these next two wells are online, it looks like WPP will be drilling for some new wells in that same area. Looking at the CEO's background, Lloydminster is for sure a strong area of interest and he is well knowledgeable on the area.

From last MD&A Page 2:

OUTLOOK
The Corporation continues to strengthen its financial position with stable production volumes, higher oil prices,
control over costs and the plan to raise additional equity described under the heading Liquidity and Capital
Resources.
The Corporation intends to participate in upcoming land sales to add to its base of developed and undeveloped
properties as well as to continue to seek favourable property acquisitions consistent with its strategy. The
Corporation is pursuing an agreement with a first nation near Lloydminster, to drill new wells on first nation lands.
Current production is approximately 100 bbls per day. Development work is currently underway to reactive two
standing wells and work will commence on a third by year end. This development work will meet the remaining
commitment for qualifying expenditures to fully meet the flow through commitment from 2008.

WPP CEO: (Keep in mind David Forrest owns almost 12 million shares just himself)

David Forrest, President

Mr. Forrest has over 15 years experience in developing heavy oil plays located around Lloydminster and Maidstone, Saskatchewan. Mr. Forrest founded IC Energy Ltd., a private oil and gas exploration and production company, building production to approximately 750 BOE per day, with P&NG leases aggregating 5,440 acres, before selling to Arsenal Energy Inc. on March 31, 2005, for a purchase price of $10 million.

Mr. Forrest is also a founder and President of Brahma Resources Ltd., a private heavy oil producer, with operations in the Lloydminster and Maidstone areas of Saskatchewan, and a co-founder of Gotham Resources Inc., which was acquired by Saha Petroleum on March 14, 2008.

[JonnyR512]

Today is looking good, 10's and 11's taken out. Level 2 is thin and shares are tightly held right now. That fund took the entire PP, so open shares will be thin for a while.

Out of 35,070,586 (FULLY DILUTED)

15,147,830 shares/warrants/options owned by insiders 43.2%

6,470,586 owned by JDM Mgmt 18.4%

21,618,416 - 35,070,586 = 13,452,152 shares on market.

thats 21,618,416 shares that are tightly held. With more production news to come out shortly, along with other land acquisitons and positive earnings, this play will run nicely next year IMO. Cost is $25 average per barrel right now, so even if oil takes a dive back to $50, were still making a good profit.

Could this double/triple by Q2 2010? Very possible IMO.

Level 2 QuoteMarket Maker Shares Bid Price Ask Price Shares Market Maker
-- 10,000 0.110 0.140 91,000 --
-- 20,000 0.090 0.150 15,000 --
-- 76,000 0.085 0.180 10,000 --
-- 54,000 0.080 0.000 0 --
-- 50,000 0.075 0.000 0 --
-- 10,000 0.070 0.000 0 --
-- 220,000 0.060 0.000 0 --

[JonnyR512]

I emailed WPP to try and find out when we could expect an update on the current wells being reactivated/new projects, and this is the reply I got back:


Will be updating the web site in the new year. Also you may contact me if you like at 780-205-4468

Thanks!
David Forrest

So I would expect something in Q1, hopefully increased production numbers.

[JonnyR512]

Looks like Husky is adding some operations to Lloydminster as well, always a strong sign of a good potential area. DZR, DLL, WPP and NOG are going to be big winners in 2010 IMO.


Husky Energy acquires Lloydminster heavy oil properties


2009-11-30 17:12 MT - News Release

Mr. John Lau reports

HUSKY ENERGY ACQUIRES LLOYDMINSTER AREA HEAVY OIL PROPERTIES

Husky Energy Inc.'s agreement to purchase Penn West heavy oil properties closed on Nov. 30, 2009. The properties are contained within Husky's Lloydminster area of operations in Alberta and Saskatchewan.

The asset acquisition provides Husky more than 6,000 barrels of oil production per day, 12.0 million barrels of oil proven reserves and 8.5 million barrels of oil probable reserves. The reserve estimates are as of Nov. 1, 2009.

"This is a strategic acquisition in a region that is a very profitable and highly productive business segment," John Lau, president and chief executive officer, said. "We will capitalize on our technical expertise and take advantage of operational synergies by integrating these assets into the company's extensive heavy oil operations."

Husky has acquired 16,700 acres (26 sections) of undeveloped land with the purchase. "This will complement the company's extensive heavy oil resource base by adding approximately one billion barrels of discovered petroleum initially in place," added Mr. Lau.

The Lloydminster area of Alberta and Saskatchewan is a core area for Husky business. The company's heavy oil assets are concentrated in a large producing region covering more than 8,000 square kilometres. Husky has significant infrastructure in the area, including an upgrader, asphalt refinery, Meridian co-generation power plant, ethanol plant, logistics centre and pipelines.

We seek Safe Harbor.

[JonnyR512]

This was the second part of the PP mentioned in November.


Western Plains Petroleum Ltd
Symbol WPP
Shares Issued 26,906,834
Close 2010-01-08 C$ 0.12
Recent Sedar Documents



Western Plains closes $150,200 private placement


2010-01-11 15:39 MT - News Release

Mr. David Forrest reports

WESTERN PLAINS PETROLEUM CLOSES COMMON SHARE PRIVATE PLACEMENT

Western Plains Petroleum Ltd. has closed its previously announced (see Stockwatch on Nov. 20, 2009) common share private placement by issuing a total of 1,877,500 common shares at a price of eight cents per share (including 62,500 common shares subscribed for by insiders of the company) for gross proceeds of $150,200. There was no finder's fee paid in connection with the private placement.

Net proceeds from the private placement are expected to be applied to the acquisition of heavy oil interests in the Lloydminster area of Saskatchewan and Alberta and for working capital purposes. All securities issued under the private placement are subject to a four-month hold period from the date of issuance expiring May 12, 2010, in accordance with TSX Venture Exchange policies and applicable securities laws. The private placement is subject to receipt of final approval from the exchange.

We seek Safe Harbor.

[JonnyR512]

So I finally got the chance to call WPP and talk to them about whats going on, and here's a brief but very positive response I got in point form

- Company is officially debt free, sitting with $140,000 cash(not including the current PP that was filled). As well they are producing around 130bpd.

- Current projects:

- Website redesign
- 1 well reactivation
- 1 well re-entry
- 1 other project that they were not able to speak of in detail
- more land acquisitions in Lloydminster(this was also briefly mentioned in the last MD&A)

[Tbuschman]

I bought some WPP today.... Need to learn the trading gig so why not

[JonnyR512]

Good pick to start with. WPP is by far my largest holding of all my stock picks. I like the story, I see great potential ahead of the stock, oil will maintain/increase this year in price IMO and with no debt and only production ahead of it, the stock can only grow. As well management is good, David Forrest is quite the CEO in terms of his knowledge and finding the best value possible. When Husky bought $2.5 billion in assets in Lloydminster back in November, I had a feeling that the area was only going to get more popular.

[noiz6543]

I've had too many bad experiences with companies showing very low volume on a daily basis...