Yeh, this is now getting really rediculous. If Defender is Dry (which is 95% most likely) then we still shouldn't go much lower. With our currently producing Bakken wells, Cash backing & our Roosevelt acreage is our SP honestly worth less then this ATM??
I know results have not come out for our Roosevelt wells, however unlike the Niobrara (I know I'm flogging on about CHK wells) the Roosevelt acreage has some very good results being posted in very close Vacinity of our area. I know you can't use nearology to back up a SP or prove up acreage for that fact, but this play is looking more & more positive as each day goes by.
As for the Niobrara, I haven't given up on it yet, I think this play in our area may just take some time to get right. If the 2 wells in Roosevelt produce commercially, I'd hope TB looks to prove up & produce that play first. Then try to nut out the Niobrara and by that time we will have a number of wells in production with a steady income stream and some decent cash backing.
SSN Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
