Im very confident we will get solid numbers from Defender and SOA as section 29 is by far the best location within SSN acreage in the Niobrara and they have done the 3 D Seismic and drill in the zone the entire length of the Defender well with positive signs so far.
If you just go by the IP rates it may be misleading, if you look at the Earl well its IP rate came in on the lower side considering the other Bakken wells but it has the highest flow of all the wells within the same period of production.
I just want to see the Niobrara wells are commercially viable and if SOA produces anywhere between 200- 600 BOEPD then it will be game on, because the market IMO hasn't factored in the conventional wells or any of the Roosevelt project.
In fact the up side to SSN is so huge no wonder people are holding onto their shares. Why wouldn't you when there are so many avenues for SSN to add value.
I made the decision a while ago to wait until the appraisal wells are drilled in the Niobrara and Roosevelt before i reconsider my situation. As a long term holder i want to make sure i get the FULL value for my SSN shares.
The higher the SP goes the more tempted it will be to sell some shares, but i believe this has got a long way to go and im happy to sit tight and wait.
GL Matsim
SSN Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
