oil boom brightens native american's prospects, page-4

If the Roosevelt project is successful which i believe it will, especially if you go by the success of other locations within the surrounding areas, would represent a couple of main factors.

Obviously the revaluation of the land purchased by SSN and the cashflow from the overall development.

I would like the buyback option from the Assiniboine and Sioux tribes to happen even though it would reduce the working interest to SSN, it would make it a lot easier from a logistical point of view if the tribes had skin in the game reducing the red tape and delays within the project.
It would more than likely allow for the full purchase of the 90,000 acres also reducing the capital outlay associated with wells costs as we already have HAL involved in the managing and developing process.

It wouldn't surprise me if HAL were to re enter in a new deal similar to the Niobrara in the Roosevelt project which would strengthen the outcome and development of the project.

As much as I believe the Niobrara will be a success, its hard to go pass the total magnitude of the Roosevelt Project and the value it could represent to SSN. The geology is far less complicated than the Niobrara as you don’t need to do a 3D Seismic for well locations in the Bakken. TB said he will do a 3D at some point in the future for the conventional target such as the Red River.

GL Matsim