I think closer to 5 dollars plus actually. Terry would not have put the new information out there concerning this if he did not already have a good idea on probable performance information from Aus II and Gretel. I'm hoping we see an announcement in about 2 hours. The plan before was to drill Aus 3 and Aus 4 which I am sure that we will still do but maybe not immediately. It appears his new plan is to build 4 wells per 1280 eco pad (4 wells per 320 acre spacing) and get the oil flowing much faster than earlier reported. This will be huge for our company and our share price in the next 6 months.
Your idea to have Quantum give us a cash line to draw upon when needed at a very reasonable credit rate since they are funding fort peck would be sweet but I just do not know how likely or practical that is. I really like the idea of keeping 2/3 from every well in this sweet spot.
We have enough in the bank currently to do some on our own but we will need help if we drill at an aggressive pace which it sounds like. I am more excited about the direction our program is going than I have been in a long time.
To me with drilling 4 wells/eco pad shows me that Terry is serious, that he now has a feel for our oil reserves and land value and that he understands that the time is now to grow the company with world unrest, oil very nicely priced and some easing of rigs and frac spreads. Good luck to you and all my SSN friends! Thanks Terry. Job well done again!
SSN Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
