SSN producing oil in the Bakken at North stockyards will benefit...

SSN producing oil in the Bakken at North stockyards will benefit the company in terms of oil revenue but will not give shareholders the gains as some may be expecting especially with the recent CR and dilution as well as the revised WI in the project. The market will also need to see how the new JV with Slawsons will eventuate over the next few months.

When Rodney, Earl, Everett, and Gary were drilled with higher WI two years ago similar share price movements were also experienced. I don’t expect any real movement in share price until the 3 forks formation or Rainbow projects are tested. Other possibilities will be the Hawk Springs Permian or unconventional targets with positive results
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The total acreage position in North Dakota is very small and will limit SSN on future drilling capabilities and SP movement unless they can purchase further leases at reasonable prices which TB has been good at in the past. It amazes me SSN are still looking to line their own pockets with possible bonuses on future success considering the disappointment of the share price and performances over the last 2 years. If they can have extraordinary results over the next few years for shareholders then it could be considered.

Cheers Matsim