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SSN certainly can move very quickly with strong volume which may represent an entry or exit point depending on your investment strategy. They have come out with a cash balance of 13M in the last quarterly report and depending on the sale of Roosevelt may need to raise further funds to complete the 4 infill well development in the stockyard development.

They have found a partner in CNOOC which will add some credibility to the Conventional target in the Niobrara but they still need to find commercial oil in an area which has been difficult. I still find it interesting why they have yet to refrac Defender if SSN feel a different proponent may be successful considering it would cost around 250K as a positive result would do wonders for the SP.

With rig costs at $17,000 per day and Administration fees now at $16,000 per day (for approx 7 staff) SSN will need to find enough oil to start making a profit for the company and its shareholders instead of CR and bonuses to their directors.

Cheers Matsim