It looks like I might have to eat some humble pie (washed down with some of Doc's Johnnie Blue) after I posted the following comments back in March ...."I am now of the opinion that SSN does not have the ability to effectively become a profitable oil producer. There is something inherently wrong somewhere in the company either at management level or with its drilling contractors. You can't tell me that surrounding drillers can have exploration success, and SSN can't, without there being a problem."
I know its still early days on SOA 11 but you would have to be a total pessimist if you weren't just a little excited about what is happening right now. A nice recovery from 0.074 a week or so ago (good luck to those who bought in at those levels) however still a way to go to get back to my average buy in of 0.125. Am quietly confidant that we may see something beyond that by 30 June.
For those that may not have noticed a small graphite explorer in Africa, Syrah Resources (SYR) has leapt from a low of 0.08c less than 12 months ago to $2.72 today on the back of some spectacular drilling results. Wouldn't it be nice if SSN had the same good fortune? (nothing wrong with dreaming).
SSN Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
