If we produced 2000 barrels at the end of December 2014;and the market price is $70.00 - $75,00 ? It still takes 90 days to receive our funds? If I was the buyer I would attempt to buy oil at $46.00 to $55.00, from SSN, in times of glut, and maybe slow roll the entire payment for 150 days. I don't think cold weather will have a positive effect on oil prices this year. Cold weather , heavy snows make shipping oil from well sites slow,difficult, and maybe dangerous. I believe the large oil producers will put much pressure on the buyers to not do business with the small oilers, because of the oil glut. I desire to buy more SSN, as the price drops, and also EXXI; because I believe the price will be much higher in 15 months. I must tighten up , and reduce my expenses to continue . I ask and expect (wish I could demand) that SSN reduce spending for non drilling programs!! I am confident that EXXI will tighten up their expenses, and protect their cash flow!! I expect and respect the management team, but please exist with our cash flow, and reasonable credit lines. Thanks for all comments on Hot Copper and the SSN message boards. I do prefer weekly updates, that provide the facts.
SSN Price at posting:
1.6¢ Sentiment: None Disclosure: Held
