It may be frustrating when you have good results in the Bakken and dont see any significant upside, but the Bakken wells will give SSN fantastic cashflow for years to come and we will have 3 new wells on production in the 2nd Quarter. Dont forget we have the State GC#2 well to be fracture stimulated and possibly Diamondback 100% WI also due in Q2.
Once we receive a spud date for our 1st appraisal well in the Hawk Springs Project, is when we will see a major move in anticipation of a good result. In fact i am expecting a significant increase in the SP, as the Niobrara is the future of this company at the present time.
Im sure TB after looking at all the data from the 3 D seismic will choose the best possible location as Halliburton has the option to only drill the second well if the first is successful.
Over the next few months SSN will have huge potential to add further to its cashflow not only in the Bakken but in the Niobrara with a 58.4% WI almost double that of the Bakken. With so much happening in 2011 and TB suggesting similar increases to that of 2010 makes me glad to be a long term holder.
SSN Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
