Right you @leverage, for every oil price rally article (which is one example of the generic posts you reference) there can easily be found another article with the opposing point of view.
There shouldn't be any doubt that an increase in oil price in of itself would be helpful for SSN. That is true for any commodity company. That's why I've tried to spend the time looking into and exposing the company's cash margin, EBITDAX and sources for capital (BB). If it was a good story I would say why and buy into it. If not I would do the same and not buy into it.
For shareholders, everything comes down to how does the company make money for its shareholders - not its bondholders and not its executives.
So back to SSN Qtrly and @buc's questions. Maybe as @buc questions the "Liquidity" is seen as an issue - would be very true if the BB is decreased (but TB did say at IPAA he was in fact expecting it to increase). If it says the same (fully drawn) then look ahead to Q3 and question available capital to reinvest into the business. Hawk Springs needs capital to be derisked - was there anything in the Qtrly to encourage a shareholder that this has progressed - the general expectation is for farmout to occur .... but that is the baseline for just about every minnow in the O&G game.
Qtrly's are about "currency" - what just happened and what is about to happen. That has to solid and support the company's strategy of what will happen.
Without too much star gazing a reasonable example here in Australia would be Santos and its path to LNG. I'm sure there are others.
SSN Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
