asx oilers: poor ssn

Poor me and poor ssn shareholders.

The market has left it behind............

Or more likely it left the market behind by sandbagging its shareholders right after the AGM.

Down by 10% since then.

And other oilers?

Well OEL announces a $3 million sale of assets in Turkey and its share zoom up.

AUT - a cap raising and the shares up by almost 40% from the cap raising price in a few days and now has to be the most expensive oiler on 3P BOE/market cap basis on the entire planet let alone Australia......probably about A$11 per boe now. Up over 2.5 times since SSN sold its land.

ETE....hey they sold and entire 1000 barrels of oil and announced a reserve report and the share are up from a recent low of 9.7 cents to 13.5 cents today.

SEA??

Well when SSN sold its land SEA was putting along at 14 cents a share. It is now 74.5 cents (Yes I sold it and put money into SSN - big mistake!!). Why? A steady stream of news and reports.

To equal that SSN would have to be just under 20 cents a share instead of under 6 cents at 5.8.

And let's see.........

AZZ - well its going down the same path as SSN or maybe I should say, it has never moved off the path from years ago. No information and not even a peep about closing a huge total sale with a value of some $150 million or whatever ..... we don't know as the company hasn't told us. Shares actually down about 30% since SSN sold its land.

TXN is now 61 cents up about 50% since SSN sold its land...

Even ELK is up about 20% and managed to pull the wool over many eyes since then.

And poor SSN and its shareholders pull in US$75 million cash plus and ORRI only to see the market cap go up less than half of value of the cash it rec's that after the sale.

Announces a good well and the shares fall.........

Yep, gotta love that SSN!!!