SSN certainly can move very quickly with strong volume which may...

SSN certainly can move very quickly with strong volume which may represent an entry or exit point depending on your investment strategy. They have come out with a cash balance of 13M in the last quarterly report and depending on the sale of Roosevelt may need to raise further funds to complete the 4 infill well development in the stockyard development.

They have found a partner in CNOOC which will add some credibility to the Conventional target in the Niobrara but they still need to find commercial oil in an area which has been difficult. I still find it interesting why they have yet to refrac Defender if SSN feel a different proponent may be successful considering it would cost around 250K as a positive result would do wonders for the SP.

With rig costs at $17,000 per day and Administration fees now at $16,000 per day (for approx 7 staff) SSN will need to find enough oil to start making a profit for the company and its shareholders instead of CR and bonuses to their directors.

Cheers Matsim