"I'd hate to say it, but the simplest explanation is often the right one. I don't think this 20%+ decline from 11 cents to 8.4 cents is the result of banks being downgraded or manipulation - I think its probably unfortunately because the results of Defender have leaked and they aren't good."
lolzz
The whole issue here is CHK dived into the Niobara blindfolded. It may as well have been myself and Sandy operating the rig/drill.........yeah this seems like a pretty good spot,let's drill a couple of holes here.
Terry Barr spent millions of dollars on a 3d to identify the oil catchment areas.
My 1st question is this:
Haliburton knew CHK were unsuccesful in the Niobara.
Why did they choose to go ahead with an appraisal well? Do they have money to throw? Absolutly not.
Do Haliburton need us,or does SSN need them.
Why are they persisting with a pump? Why haven't they packed up and gone?
Remember it's Haliburton paying the bill.
The 2nd question I keep asking myself is,what happened to the "oil saturated"?
Terry Barr has made it clear............."THE PUMP WILL BRING THE FLUIDS UP"
3rd question.
If the Niobara turns out to be a dud?
What have we lost really?
We made $73 million and a got a free test drill,for something SSN paid only $5 per/acre.
SSN has plan B,the highly prosperous Baaken and the Roosvelt project to explore next.
SSN Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
