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1.5¢ samson oil & gas limited

Ann: June 2015 Quarterly Report and Appendix 5B, page-21

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buc

7,888 Posts.

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31/07/15

09:45

Post #: 15726226
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Originally posted by cmonaussie ↑

Have you forgotten how the Reserves based lending facility works? Commercial oil translates to 2C Contingent resource. Only the Bluff and SOA2 would be given some Reserves (at best) as 1P PDP. How much was invested into NSY to get 1P PDP so that access to debt became an option to develop the PUD?

Also don't forget - every month SSN depletes its 1P Reserves with production - and is not presently replacing that volume.

A very muted response overnight in the US re the Qtrly.....maybe they are waiting for a little more detail too?

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"Commercial oil translates to 2C Contingent resource. Only the Bluff and SOA2 would be given some Reserves (at best)"

build it, and they will come......

SSN Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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