how this stock can be worth $1.50 in 5yrs, page-35

I have to disagree with much of that reggie, it is not appropriate to value this company based on its past operational cash flow. The value in this company is driven from its land assets which were purchased back in the 90s which has appreciated 50 fold+ and a portion of which is soon to be realised. The drilling in the past has been relatively insignicant in comparisoin to the major wealth creator of SSN and that is its valuable land in the Niobrara and Bakken.

Now 1.50 may seem pie in the sky at the moment but this will not remain a spec stock in the medium to long term. It has guaranteed operational cash flow from royalties as Mojo has pointed out which alone should cover operational cash outflow (the company has just 7 employees). Added to that are the companies own wells it drills and in this regard the company has been relatively successful this year.

LOng termers have known about the signicant potential of this stock long before the announcement in June, people could have told you it was worth much more than 3c at the beginning of the year. I dont doubt that we will see a retrace once the daytraders have had thier fun, but imo we are seeing a re-rating here not based on hype but on sound fundamentals.