The management of SSN use the Sharholders as their cash cow because they have consistently kept their Admin costs the same over the last 4 years no matter what the SP has been.
They reduce the prise of their bonuses to make sure they keep lining their pockets rather than increasing the SP for holders. Time and time again SSN use the shareholders to increase their wealth but another to increase the profitability of the company, so the question has to be asked if all the decisions made by SSN are in the best interest for shareholders.
Its only a matter of time before the next round of capital raisings happen to further dilute SSN. They may have a lot of drilling happening but not a lot of new oil accumulating regardless of the shut in well, and the SP has done very little considering the early results of the 3 forks formation. Even if SSN produce over 1000 BOEPD as forecasted over the next couple of months it will be eaten up by further dilution.
Cheers matsim
SSN Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
