And from Rose Petroleum's presentation @ Enercom in London
http://www.rosepetroleum.com/userfiles/file/rose-petroleum-enercom-2014-presentation.pdf
Note that this presentation was in JUNE 2014 - and thus the use of $85 oil in economics. Still worth contrasting that to what SSN described. Rose's acreage is more in the northern part of the Paradox basin but targeting same Cane Creek Formation.
(Rob - check the decline curves and IRR analysis - the differences are a little concerning).
On the Rose Petroleum site in their annual report for 2014 (YE Dec 2014) and filed 4th June 2015 is this quote from the Chairman
"The prospectivity of our Paradox acreage is very significant but by virtue of the costs of drilling in this area (circa US$8.5 million per well) and the need to undertake a 3-D seismic survey of the area prior to drilling, the drilling targets at the Mancos remain our initial target. The encouraging results from the core analysis on the Mancos Shale, reiterates the strong potential of the Mancos, which benefits from a low breakeven price considering the excellent infrastructure and low entry price"
Clearly costs would have come down from the $8.5M cited (SSN est $5.6M).
Also noted that MDU Resources Group (NYSE: MDU) the parent of Fidelity Exploration (main producer in Paradox Basin) is trying to sell that portion of the company to concentrate on its other busineses.
There is some interesting reading in the 10Q filed by MDU in August
http://www.sec.gov/Archives/edgar/data/67716/000006771615000089/a2015q2form10-q.htm
No information on the realized oil price received though and that price is key to everything in every oil play globally at present.
GLTM
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