the bakken update: small caps, part vi , page-4

OMR


$175 per acre for the 1st trench in the Roosevelt project. You would expect they would purchase the 2nd Trench for the same price as they are already leased, it would just depend if SSN want to go ahead with the deal.

Even with FPEC buying back in, SSN would only spend $4,690,000 for a net 26,800 Bakken acres.

Once we have confirmation the project is commercially viable can you imagine what these acres will be rerated at, not to mention Samson’s SP.

It will be a buy of the century to have purchased Bakken land at those prices especially when there are other big plays who have had excellent flow rate around our acreage.

GL Matsim