I would agree with you that CHK financially may be better off with a possible T/O of SSN than perhaps a JV for the reasons you stated.
For a T/O to be successful it would have to be agreed to by the Shareholders.
Now i know there are plenty of traders who would agree depending on what price was offered.
I believe with the research I have done over a long period of time that SSN has so much potential over the next 12 - 18 months that I am happy to wait and see the full value and potential of SSN.
I hope there are many holders who feel the same way as I do because any short term profit will be insignificant over the longer term IMO.
Happy to sit tight and wait for further news
SSN Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held