The Trenche 3 Fort Feck 50,000 acres which SSN had the option for was situated north of the Brockton - Froid fault line and if you look closely at the wells situated within this area you will notice that most of the activity is south where SSN have their 40,000 acres. (If option 2 is taken)
So if correct and this has been sold for a reported sum of $450 per acre and I believe it is less productive bases purely on current activity makes the land SSN got for around $175 per acre a steel.
Yes the Niobrara may be disappointing thus far but the Roosevelt project in my view will be very interesting and i give it a lot of merit based on other wells within the surrounding areas. We will know more by late Jan early Feb next year but im expecting solid results.
I don’t think TB will drill the infill or 3 forks play in North Dakota any time soon as the land there is already proven, I believe he will use the remaining funds at the disposal of SSN to maximise the Roosevelt and Niobrara acreage which will add far more value if successful to the SP.
Cheers Matsim
SSN Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held
