SSN 0.00% 1.5¢ samson oil & gas limited

Ann: Results of General Meeting, page-6

  1. 10,855 Posts.
    lightbulb Created with Sketch. 3590

    Interesting side note then ...


    Remembering that SSN only had rights to certain formations i.e. not Bakken


    Whiting Petroleum acquires ~55,000 net acres in the Williston Basin for $130 million from Oasis Petroleum. Appears to be OAS remaining Foreman Butte acreage which OAS classified as "lower-quality acreage (third-tier)". OAS/WPL say 1,290 boepd of production which if valued at $40K per boepd puts the land about $1,450 per acre (as mostly undeveloped). Total cost Production + Land = $50M + $80M = $130M


    So then, TB just sold 1,000 bopd (not boepd)


    If at $40K per boepd = $40M and the land at $0 per acre?

    or

    land at $1,450/acre = 51,305 x 1450 = $74M ... obviously land aint that valuable (being 3rd rate and all and not having the Bakken)


    Let's say you sold it at what you said it was worth (cost + bargain gain) = ~$27M (I think) = $526/acre


    Means you got $13M for 1,000 bopd of production ... or $13,000 per flowing bopd.


    Bent over a barrel I thimk






 
watchlist Created with Sketch. Add SSN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.