SSN is technically and fundamentally geared up for a very bullish week ahead.
Ripsaw (95% working interest)
As per announcement released on the 24th March. "The surface casing will be cemented overnight and drilling operations should resume tomorrow morning. It is estimated the well will take one week to drill."
Gene#1-22H (30.6% working interest)
"The Gene #1-22H is scheduled to be fracture stimulated on March 29th. As previously reported, this well has been drilled as a 5,500 foot horizontal in the middle Bakken Formation and has been cased with external casing packers in the zone of interest"
So we should anticipated an update on the completion of the drilling of Ripsaw and the commencement of fracturing Gene #1-22H. From memory a previous poster mentioned that the fracturing will take about 6 days for Gene.
The chart is looking very bullish with a perfectly formed cup and handle, or double round bottom. Both of these are strong patterns for emerging breakouts. The chart seems to be in line with the fundamental activity and is looking to break out to the upside.
The sp has recently traded three times at 3.5 cents (see purple circles on chart) and it is highly likely to trade at this level or higher next week with encouraging fundamental activity.
Due to the imminent timing of fundamentals and the technical bullish chart pattern formations I have changed my sentiment from 'hold' to 'buy'.
cheers Ange
SSN Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
