Maybe you need to take a long hard look at SSN again. You know take a look at facts that matter such as cash on hand, oil production, wells being drilled, current plans for wells in the near future, and then maybe if you can manage to actually figure out what that means, take a look at some of the presentations put out by SSN and then even CHK.
Then if you can actually wade though that then take a look at some of the current hot stocks being touted on HC and jumping like Mexican Jumping Beans as soon as a secret word is mentioned.
I think that you find that due to selling SSN is now valued at a market cap of of around US$95 million undiluted and US$120 million fully diluted.
SSN currently has about $75 million cash, add another $4.5 million or so for options when exercised under the fully diluted scenario, ND wells and production, Wyoming NG wells and production, Texas land, New Mexico land, Wyoming Niobrara land and a big Wyoming ORRI and of course some $11 million debt.
It also looks like that oil production will double in the current quarter and maybe even by then we'll have some information on wells that are subject to the ORRI.
Now I don't want to get to deep in finance 101, but I think that the case can be made that the SSN share is quite undervalued at this time.
So what don't you understand about the above scenario that leads you putting in place the following sell queue prior to trade today:
17.48 million shares in the sell queue from 84 sell orders under 7.8 cents?
SSN Price at posting:
6.2¢ Sentiment: LT Buy Disclosure: Held
