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1.5¢ samson oil & gas limited

And to think we had no debt + $70m in bank, page-17

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buc

7,887 Posts.

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16/04/15

20:37

Post #: 15102057
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Originally posted by cmonaussie ↑

But Buc (try saying that 3 times quickly),

Tezza has had Hawk Springs all this time hasn't he? Back in Feb 2012 (when SSN had a MC of $225M and no debt) he was touting Hawk Springs Conventional Oil project Permian/Penn in the DJ Basin and 50+ MmBOE of Resource and 250 locations. Definitely cracked something.

With all that potential @ Hawk Springs why bother with the Bakken?

PS - did you farmout 50% for no carry as you quote $1.5M well costs and the slide clearly says $3M well cost (its the same slide you get the $8.3M NPV on $50 oil from). I think I can predict your response that says $2.15B aint half bad.

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Indeed, you are correct and wrong at the same time.
I agree with a 50% farmout, $2.15 Billion ain't bad.

The calculations were based on $60 oil. At $80 oil, its $4.3 Billion, even with a 50% farmout.

At $100 oil $6.5 billion. .

Anyways, if Tezza hits the sweet spot a couple of more times in Hawk Springs, SSN will be taken over and developed by a bigger player, imo.

cheers all

SSN Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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