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Ann: Sun Completes Badger Oil Project Farm-Out, page-21

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25 Posts.

25/11/14

23:14

Post #: 14352507
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Originally posted by mabrook ↑

If you put all the pieces of the puzzle together. The current share price and their consolidation stragey makes complete sense.

Oil has slumped, 2014 will be remembered as the big oil depression. We have a surplus, a glut, from low demand and new discoveries. Check out FAR, huge oil discovery off Senegal, 5th largest strike this year and that is just from preliminary estimates. It's likely to be larger. It will turn Senegal into a country with money and prosperity. And the share price of FAR? Back to where it started before the discovery!
SUN is not alone.

SUN have hit PAY at Jack Howe well, and this will not be the only productive well in the Woodbine area we drill. Jack Howe will be fracced soon, and oil should start flowing.
SUN's decision to reduce their holding to 10% at Badger Oil project makes economic sense. We have a good oil strike at Woodbine and the money is better spent in our own back yard than helping fund another prospect. By retaining a financially free 10%, we will still get revenue from any productive wells in the area, and Badger Oil is all ready finding oil.
It is obvious that SUN know they have hit good money at Woodbine and will easily offset the loss at Badger oil. Its a short term cash flow hit - use the money where results are guaranteed. Let someone else pay for Badger, we can earn revenue from our 10% holding.
I'd rather be drilling and producing where EON is our very near neighbour.

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Thanks mabrook for your informative response. Yes oil has take a hit and I have also been in FAR. Was a long term holder pre Kora duster so recent run has only seen me dodge a loss. SP should have escalated much higher on the back of both discoveries! Unfortunately like SUR the amount of shares in both companies puts a ceiling on the SP increase on the back of significant results!

SUR Price at posting: 0.7¢ Sentiment: None Disclosure: Unspecified
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0 Great analysis

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Ann: Sun Completes Badger Oil Project Farm-Out, page-21

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Ann: Sun Completes Badger Oil Project Farm-Out, page-21

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