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1.5¢ samson oil & gas limited

And to think we had no debt + $70m in bank, page-11

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buc

7,879 Posts.

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16/04/15

17:21

Post #: 15101120
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Originally posted by cmonaussie ↑

But Buc (try saying that 3 times quickly),

Tezza has had Hawk Springs all this time hasn't he? Back in Feb 2012 (when SSN had a MC of $225M and no debt) he was touting Hawk Springs Conventional Oil project Permian/Penn in the DJ Basin and 50+ MmBOE of Resource and 250 locations. Definitely cracked something.

With all that potential @ Hawk Springs why bother with the Bakken?

PS - did you farmout 50% for no carry as you quote $1.5M well costs and the slide clearly says $3M well cost (its the same slide you get the $8.3M NPV on $50 oil from). I think I can predict your response that says $2.15B aint half bad.

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It's become common knowledge, drilling costs for conventional verticle wells have dropped to an average of $1.5 million, due to the bust.

Not for Hawk Springs perhaps?

SSN Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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