Nothing new from the presso apart from..
"Buy out 50% of hedges for approximately $1.3 million. Retain $2.2 million for the PDNP/PUD program."
must be confident of future oil price gains.
I like this bit...
"Conventional acquisition has been determined (yet to be audited) to be a “bargain purchase”. Valuation methodology delivers a profit of $11.4 million. Creates at least $6 million of shareholder equity, resolving listing caveat."
If all goes well then PDP could be $120mil by 2019 and current market cap is $13mil with current PDP of $40mil.
with WTI at $46 and if it continues to increase and some love comes back into the sector then money will be made.
SSN Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
