From my understanding even if Defender proves a failure, and I still believe/hope it wont the land is not worthless until those 25 Permian pods are tested. In fact those pods may prove worth valuable then Niobrara, given they will be vertical and cost less. Noble have achieved IP's of 900-1100 in Wattenburg attacking similar pods. Still researching that one. One positive we can hang onto until Defender results are out (which could be in January, IMO) is that London Flats produced 8 BOD. This indicates Shannon Springs and most likely the Niobrara is mature enough to produce oil. So in that respects London Flats wasn't a waste, even though it only 8 BOD and was not commercial.
CHK maybe putting up their lands to land a big fat bid, failing that they may return to try again. This is familiar pattern with CHK.
They probably couldn't recognise the Muddy from the 3D but now they will recalibrate their 3D based on actual results. So at least SOA has some return in the from of intellectual property albeit of less value than what was sought.
SSN Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held
