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1.5¢ samson oil & gas limited

I guess, if Samson discovers no oil, that would still be...

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buc

7,861 Posts.

11

25/11/14

20:02

Post #: 14351480
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Originally posted by alacrity ↑

I wouldn't get too excited about the word "Discovery" as I remember the Defender well was also labeled the same and it has come to nothing in the end.

I believe that this well will not produce but they are trying to talk it up in this ann by saying they have proved that a trap has been found but It hasn't trapped any oil but maybe they can use this to add some value to the land.

"The test was designed to achieve several objectives all of which have been achieved or are expected to be achieved:"

"2) To prove that the 9,500 sand was a viable reservoir, such that if an oil leg was present it could be produced."

They use the wording "such that if an oil leg was present" which tells me no oil leg was found.

Oh well, back to hoping the oil price continues to recover and they can turn this company around somehow.

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I guess, if Samson discovers no oil, that would still be considered a discovery. chrisppy, no soup for you

SSN Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
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