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1.5¢ samson oil & gas limited

Ann: Operational Advisory and Enercom Conference Advice, page-23

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buc

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19/02/15

13:57

Post #: 14783946
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Originally posted by chand ↑

Hi,

Don't go by the costs of other operators. Focus on the costs which SSN is spending while drilling. It will pay to find out how much each of SOA1 , SPA2, Bluff cost to drill and test. From memory SOA2 was around 6 to 7 million.

Also interesting to note that everytime they drill, the 3-D data is reinterpreted and the prize is in the next drill. Didn't they say that they have learnt enough from SOA1 and 2 and bluff was the prize

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SOA2 was water saturated, Bluff 1 was N2 saturated.
PTA suggests a fluid boundary ~600 feet from the well bore.
3D simulator used to develop a type curve for wells in the oil leg.
EUR is 550,000 bbls.
IP rate of 500 BOPD.

SSN Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
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