to all hotcopperites

To all Hotcopperites

I would encourage you all to take a look at what I personally believe is the best value stock on the asx with so much potential. The stock is ssn and I have posted below its projects. They do carry a debt of $12 million but it is with their largest shareholder macquarie bank. SSN have thousands upon thousands of acres either as jv's or wholly owned gas and oil fields. Many are already producing and the future potential revenue is awesome. They are currently drilling the bakken and their recent quaterly was imho outstanding. Take a moment to read the following as this will not be under 2cps for very long


Lookout Wash Field (Samson 18.2% Working Interest)

The Look Out Wash Field is located in the Washakie Basin, which is part of the Greater Green River Basin, and is currently producing from 20 wells on Samson's acreage. This field produces principally from the Almond Bar, which is a stratigraphically bound trap. Eight PUD locations remain to be drilled to the northwest of the main field wells. Several formations above and below this main target are gas productive including:

The Almond Fluvial formation, an interbedded sand, shale, and coal bed sequence, has until recently been considered a secondary target. This formation is now being included in completions and has added incremental flow rate and reserves on the Almond Bar which is the primary target in the field.

The Lewis Shale formation is the seal to the Almond Bar and regularly returns very large gas shows while being drilled. With the emergence of shale gas plays in the United States, this formation will be a candidate for future evaluation. Cabot (the operator) has recently proposed the LWU #30-17H well to test the Lewis.

The Lance formation is produced within the field and sits above the primary zone. The formation is gas saturated and will be exploited in the existing wells when the primary completed intervals are depleted.

The Ericson formation is located below the primary target and has been drilled through only once in the field, but has returned both gas shows and flows in the immediate area. The formation is not normally drilled in the current development phase but the existing wells have been engineered such that they can be extended into this formation/section/unit in the future.

The gas in Lookout Wash is gathered by Western Gas Resources, a third party gas gathering company, on behalf of the operator and the joint venture parties. In September 2006, Western Gas Resources installed additional compression in the field to reduce line pressure in the field from 650 psi to 235 psi. Production in the field initially increased by 26% from 7.8 mmcfgd (gross) to 9.7 mmcfgd (gross).
Greens Canyon (Samson 100% Working Interest)

Recent reprocessing of the Greens Canyon 3-D survey along with newly released information from Samson's competitors have provided a greater understanding of the Baxter Shale resource play. The reprocessed 3-D data indicates the Baxter Shale is fractured and located within the pressure transition zone. Samson's competitors have shown that fracturing and over-pressuring are key ingredients to making a success in the Baxter Shale. Samson is now ready to test this theory with a re-entry opportunity in one of its existing wellbores, the Greens Canyon 29-#2 well. The Greens Canyon 29-#2 well displayed very encouraging gas shows and good porosity within the Airport Sandstone member of the Baxter Shale. The re-entry in this vertical well would simply involve fracture-stimulating the Airport Sandstone to see if the well will produce at a high sustainable flow rate. If this proves to be a success, horizontal wells will be drilled throughout the Greens Canyon area to exploit the Baxter west of the Rock Springs uplift.
Samson 100% Working Interest

The Firehole Canyon Prospect consists of 12,000 acres in the Green River Basin area of Wyoming. This project was developed as a result of several years of extensive geologic mapping and research. The prospect has good reservoir development in both the Muddy and Frontier formations, as indicated in a well that had shows of gas in both the target formations. This well was drilled in the early 1960's when gas prices of 25 cents per mcf made field development uneconomic. The potential target formations are between 10,000 and 13,000 feet. 31 potential drill locations have been mapped with potential for an estimated 53 Bcf of gas net to Samson's interest.
Samson 100% Working Interest

The Firehole Canyon Prospect consists of 12,000 acres in the Green River Basin area of Wyoming. This project was developed as a result of several years of extensive geologic mapping and research. The prospect has good reservoir development in both the Muddy and Frontier formations, as indicated in a well that had shows of gas in both the target formations. This well was drilled in the early 1960's when gas prices of 25 cents per mcf made field development uneconomic. The potential target formations are between 10,000 and 13,000 feet. 31 potential drill locations have been mapped with potential for an estimated 53 Bcf of gas net to Samson's interest.
Samson 100% Working Interest

Existing seismic data has been acquired in the Browns Ranch area to determine the precise position of the fault that controls the up-dip termination of a trap at the Frontier and Muddy levels. Given the cost of drilling to these levels, it is currently envisaged that the most cost effective way to investigate the Greens Canyon, Firehole Canyon and Browns Ranch prospects is to drill the Browns Ranch area, since this represents the shallowest position of these prospective sections. Reprocessing of this data is yet to be completed, which will be followed by mapping.

The Browns Ranch Project consists of 1,900 acres on trend with the 175 Bcf South Baxter Field in the Green River Basin, Wyoming. The feasibility of this project was enhanced by the drilling of SBU#22 on adjacent acreage, not owned by the Company, two miles to the northeast ,which had initial production of 5mmcfpd. The SBU #22 well has produced 1.9 Bcf over the last 46 months and has been successfully offset by two other wells. A well drilled by Davis Oil in the 1970's confirmed the presence in Samson's prospect area of a similar quality sand as found in the SBU #22 well. 10 potential locations exist on the acreage with potential for an estimated 17 Bcf of gas net to Samson.

In the Flaming Gorge area, which comprises 6,400 acres in the south-western portion of the Green River Basin in Wyoming, Samson has formed a joint-venture with Devon Energy and has recently completed shooting phase I of a 3-D seismic survey in this area. Once the 3-D data is received, it will be interpreted and evaluated to determine the optimum location to drill an exploration well in this area. Devon is currently drilling a 16,000' well on an adjacent lease to the joint venture area leases. Samson's agreement with Devon provides that Devon will operate both the seismic acquisition and any subsequent exploratory program. Samson will retain a 50% interest in the leasehold block unless Samson permits a third party to complete the second farm-in well in the Greens Canyon area to earn an 18% equity stake in Samson's leases. In that circumstance, Samson would then retain only a 32% equity interest in these leases. Samson's acreage is also just 20 miles west of the area which is being vigorously developed in the Baxter Shale by third parties.
The Company entered into a joint venture to acquire acreage in the Hawk Springs project area, located in the Denver-Julesburg Basin in southeastern Wyoming. The venture holds approximately 144,000 acres and covers two prospective formations.

The Niobrara formation, a fractured chalk reservoir, has been the primary target for the project. There has been significant production from this formation in the Silo Field, which is approximately 30 miles to the south of the Hawk Springs area. The Silo Field, which is projected to recover around 10 mmstb of oil was discovered in 1982 but it was not until 1992, when horizontal drilling was applied to the field, that significant recoveries were made. Wells drilled using this technique have averaged a recovery of 230,000 bbls of oil compared with average recoveries of around 25,000 bbls for vertical wells. There is a strong correlation between the resistivity of the Niobrara Formation and where the rock is fractured and oil saturated. As a consequence, two areas of anomalously high resistivity readings from existing well bores within the Hawk Springs project area have been established where it is likely that analogies to the Silo Field can be established.

During 2006, the initial well in the Hawk Springs Project, London Flats #1, was drilled as the first evaluation of the Niobrara. During the drilling of this well, good mud log shows were recorded. However, upon completion of fracture stimulation, marginal fluid rates (of around 8 barrels of oil per day) were encountered. Management believes that the key to establishing an economic flow rate is therefore to determine the location of a fracture set within the extensive land holding that has been acquired. The approach that is being taken is to purchase the extensive 2D seismic data set that exists in the area, map this data and determine the regionally structural picture such that further seismic, possibly 3D, can be acquired to determine the location of a fracture set.

The potential resource identified for the Niobrara is 20 mmstb recoverable (10 mmstb net to Samson), based on the two observed resistivity anomalies representing two Silo look a likes.

The Codell Sandstone formation is also productive in the Denver-Julesburg Basin. For, example, 30 mmstb of oil and 320 BCF of gas from that formation in the Wattenberg Field.

The Hawk Springs field is stratigraphically trapped. Similar geologic circumstances are present within the southwestern part of the project area where an isolated thick sequence of Codell Sandstone has been mapped using existing well control and therefore has the potential to generate a trap. While vintage exploration wells have penetrated this sequence and returned significant oil and gas shows, no commercial flow was established. However it has been the case that the early drilling and completion of the Wattenberg Field in the Codell was not successful and it was only in the very late 1990's that fracture stimulation technology enabled it to be exploited commercially. We believe that this trap has the potential to recover between 95 and 140 mmboe.

New exploration efforts in Hawk Springs have been focused on the Sharon Springs Member of the Pierre Shale Formation (see map above). The Pierre Shale was the main producing reservoir at Florence Field and Boulder Field along the Front Range to the south in the Colorado portion of the D-J Basin. These fields are located in a similar geologic setting along the Front Range as our Hawk Springs area. The Sharon Springs section of the Pierre was tested in the vertical portion of Samson's London Flats #1 well at a rate of 12 barrels of oil/day. Fractures within the Sharon Springs serve as the reservoir. Thus, a horizontal well would be beneficial by intersecting multiple sets of fractures within the Sharon Springs. Doing this may yield a well capable of producing several hundred barrels of oil per day.
Jonah Field (Samson 21% Working Interest)

The Jonah Field is located in the northern part of the Green River Basin. It is one of the largest discoveries in recent decades in the continental United States, having produced in excess of 1.5 trillion cubic feet of gas since commencing production in 1992. Development of this field has resulted from the application of advanced fracture stimulation techniques. The field has undergone several iterations of development with some sections of the field currently being developed on a 10 acre well spacing. The current well spacing is approximately 20 acres.

The field produces from a series of stacked reservoirs within the Mesaverde and Lance formations. The field is wedge shaped and trapped between two faults.

The current development in the acquired section is approximately 20 acres. In late 2006, approval was granted for developing the field on 10 acre spacing, which would result in a further 5 or 6 development wells being drilled in the acquired section. Two new development wells are planned to be drilled in 2009.
Samson has an interest in 3,303 acres adjacent to the North Stockyard Oil Field, which is located in the Williston Basin in North Dakota. Productive reservoirs at North Stockyard include the Bluell and Bakken Formations.

The Harstad #1-15H well was drilled and completed as a Bluell well. The well is currently producing at rates between 90 and 100 barrels of oil per day. As a result of this success, a follow-up well was drilled to the southeast to test the limits of the Bluell zone. This was the Leonard 1-23H well. The logging operations conducted in the Bluell zone indicated very low porosity and permeability of the reservoir. So it was decided among all the working interest partners in the Leonard 1-23H well to drill deeper and test the Bakken Formation with a 6,000' horizontal leg. The Bakken had never been drilled before in the North Stockyard Field area so this was a true exploration test. Details of the well are currently being held tight, but early indications look positive for the Bakken in the North Stockyard area. If the Leonard 1-23H well proves to be an economic success, 5 additional wells will be proved-up and get drilled within the next two years in the surrounding sections on the Samson acreage. If Samson and the operator are successful in forming a unit over the entire North Stockyard area, 11 additional wells could be drilled because it would then allow wells to be drilled across section lines.

Following this stimulation, because the well reached its total depth in oil and gas shows at the toe of the horizontal section, two additional locations in the field have been identified that are expected to be drilled during the remainder of 2007 or early 2008.

State GC Oil & Gas Fields (Samson 27% & 100% Working Interest)

State GC Oil Field, New Mexico
Samson 27% Working Interest

The State GC oil field, located in Lea County, New Mexico, was discovered in 1980 and covers approximately 600 acres. The field currently has two wells producing from the Lower Leonard (Wolfcamp) sands. The State GC #1 well has produced 560,000 barrels (bbls) of oil and 0.7 BCF of gas and is currently making about 50 BOPD. The State GC #2 well was drilled in 2008 in a similar amplitude as the State GC #1. This well makes 30 BOPD currently. This rate will most likely increase after a fracture stimulation is conducted in March 2009 on the Lower Leonard zone.

Samson acquired a non-exclusive 3D seismic grid previously shot by a geophysical contractor covering the ten sections (640 acres each) adjacent to the State GC well. Through the use of 3D seismic amplitude analysis and spectral decomposition, Samson has proven to be accurate in determining the incident of porous zones within the Lower Leonard Formation. As a result, two new Lower Leonard drilling opportunities are being pursued in 2009. These are the Jackrabbit and Section 6 re-entry prospects (see maps below) which will test stronger and larger amplitudes than the State GC #1 and #2 amplitudes. These two prospects could yield over two million barrels of oil from the Leonard zone alone. Samson has a 100% WI in the Jackrabbit prospect.

State GC Gas Field, New Mexico
Samson 100.0% Working Interest

The 3D seismic data has been helpful in identifying three Morrow formation drilling opportunities. One of these is located directly under the Leonard target at the Jackrabbit Prospect which allows for a stacked target wellbore. The other two Morrow prospects are located in Section 24 west and Section 13 East. Samson holds 100% of all these prospects and therefore will be offering farmouts to the industry to finance the drilling of these very attractive locations. The Morrow formation was originally a secondary target in this area, but remapping and subsurface modeling has suggested that the Morrow formation, which has gas recoveries averaging 5 Bcf per section in the adjacent sections, will be the primary target.
Sabretooth #1 well (Brazoria County, TX)
Samson 12.5% Working Interest

The Sabretooth #1 well is currently producing at a constrained rate of 3.5 mmcfgd and 40 bopd on 5/64 choke setting with 9000#s FTP and holding steady. Estimated mean reserves for this well have been calculated at 10-12 BCFG with an upside of 20 BCFG.

Diamondback & Ripsaw Prospects (Jefferson & Grimes Counties, TX)
Samson 100% Working Interest

These two lower-risk prospects with excellent amplitude variation with offset attributes are currently being assembled in southeast Texas. They target the highly prolific Frio and Yegua Formations. Each prospect has reserves between 1 and 2 BCFG and are located at shallow depths which means lower drilling costs. Samson hopes to drill these prospects in the third and fourth quarters of 2009.

PGamble