It comes as no surprise SSN have a capital raising considering...

It comes as no surprise SSN have a capital raising considering the Bakken project will need sufficient funds until the oil revenue increases.

I suspect SSN will attempt to raise somewhere between $8M-$10M at 2-2.2 cents with approx 500 M new shares.

The Bakken project regardless of the amount of wells drilled will only help cashflow over time whereas the Permian and unconventional targets in Hawk Springs will add value to shareholders because of the size of both projects. But I do see the 3 forks formation may add some value depending on their success.

I was also surprised when SSN in yesterdays advisory said they would be the operator for the Bluff federal well considering the importance of the project as it is exploratory. I don’t believe they have the expertise or experience to manage the well or its costs. IMO it would be worth considering a company with drilling experience in Permian /Pennsylvanian targets to operate Bluff even if SSN give up further working interest. The upside in this project is huge for shareholders therefore it needs the best possible team to run the project.


Cheers Matsim