Ok, you have now proved your point, SSN is high risk, going...

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buc

7,875 Posts.

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08/05/15

18:23

Post #: 15244934
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Originally posted by cmonaussie ↑

Buc,

Here's a view from a company I have a long position in - quick guide to look at the "Profitable" question. It does NOT answer the "Value Generating" question of did it make a return on capital employed.

I used that to then create one for the potential Bluff oil project - all guesses on number you provided and then some estimates (who knows if high/low).

View attachment 63519

Now do that for Bluff. Just answering whether it is PROFITABLE or not. Whether over time the project is VALUE CREATING for the capital used/generated over the time period of the project is not answered.

You're welcome to change the numbers to suit. Not saying its right/wrong or correct. Used the $3M well cost and $50 oil as the selling price. Obviously the differences lie in what's not been included in the All-In costs and the accuracy of the estimates for LOE/G&A/Financing.

View attachment 63528

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Ok, you have now proved your point, SSN is high risk, going broke and not suited to yours and Einhorns investment style. Looking to the future it seems, we the shareholders are stuck in this rut, but, what about you?

Your not buying SSN shares nor do you have any intention to. Your not selling as you don't own any, so what's you personal objective? Are you going to stick around?

SSN Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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