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[JonnyR512]

Thats lots of juniors right now though. They stay quiet, dont trade much, but behind the scenes the companies are doing much larger things. Thats why you get these stocks that explode in price out of the blue(PEN, PRC, ect). Even if WPP doubled and then pulled back a few cents, youd still be in the profit zone.

PEN was trading the same way WPP was a year ago, except that where its at right now in terms of production/projects its still doing less than what WPP, but trading at double the price?. I see this play staying quiet until the next report is out/project anouncement. Then we will see it move. Plus the insiders own such a large chunk that their really isnt much available, meaning we need to go higher in price in order for someone to take a larger sized position, also a good sign that managment believes in the company.

I still feel it will go to 25-30 cents in the short term. Do a DD on WPP vs NOG, DZR(Similar LLoyd plays) and then PEN and you'll see what I mean. Best of luck trading!

[JonnyR512]

Another big thing I look at is the surrounding area and whos there. Nov.30 2009, Husky purchased a large chunk of assets from Penn West in Lloydminster. I think that with newer, heavy oil technology, this could create a buying frenzy from larger players, similar to whats happening in the Bakkens with Crescent Point, Encana, ect. This will then impact the juniors positively by bringing buying interest into their stocks.

Husky Lloyd article---> UPDATE 1-Husky buys Lloydminster heavy oil properties | Reuters

Oil isnt going down(maybe back to $65-70) and oilsands are not cheap. Heavy oil is gaining interest again.

[JonnyR512]

http://www.er.gov.sk.ca/adx/aspx/adx...29%2C+2010.pdf

Page 28/30, WPP Sparky Sand Oil Well approved. This must of been part of that PP done on the 20th, because the application was submitted on November 25th 2009 and approved January 18th 2010. I hope they release an official update once the well has been spudded.

Looking at the agreement, this is not a reactivation, its an actual well thats going to be drilled.
http://www.er.gov.sk.ca/adx/aspx/adx...arget+Well.pdf

[JonnyR512]

Western Plains Petroleum Ltd
Symbol WPP
Shares Issued 32,137,274
Close 2010-02-23 C$ 0.15
Recent Sedar Documents



Western Plains to buy Maidstone oil and gas rights


2010-02-24 14:43 MT - News Release

Mr. David Forrest reports

WESTERN PLAINS PETROLEUM TO ACQUIRE MAIDSTONE INTERESTS

Western Plains Petroleum Ltd. has entered into an agreement to acquire 100-per-cent working interest in petroleum and natural gas rights located at the W/2 of 25-23-48 W3M, located in the Maidstone area of western Saskatchewan, from a private non-arm's-length oil and gas company for a cash purchase price of $30,000. There is a history of heavy oil production from this block and the company is negotiating with an operator in the area to acquire two shut-in wells also located on these properties.

The proceeds for this acquisition will be provided from working capital. Closing of the acquisition is expected to occur this week, subject to normal industry conditions and the approval of the TSX Venture Exchange.

We seek Safe Harbor.