there was so much in the presentation that the market was not aware of.
management have brought together what are real prospects for SSN in 2010. see pages 27/28 of the presentation.
also, they appear to have revealed the number of sites they plan to drill in the stockyard fields - i had seen them use the word 'several' but an additional 4 is great. we also know that they are not going to be delayed because of equipment needs.
also, i realised how conservative they have been in terms of the BOPD they expect to see from Gene 1-22H when it is fracced.
there is more that I did not know about the company until today but i am sure others can point to these as well!
so! was today a P&D - "perhaps" - but the buying was not accompanied with the irrational kind of exuberance we normally see with a strong run up that I am used to when it is a P&D. i think it is the market realizing that there is more to SSN than having to wait till the end of march for 1 well to be go into production.
SSN Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held