We're coming up on a year since Defender was first spud if I'm not mistaken. Gretel and Aussy II have faded into oblivion. SOA failed, so they fraced the muddy J formation which was a dud.
SOA II thus far is following the same pattern of delays, mistakes, silence, and no oil. Sure TB has mentioned oil saturated core ssamples and yada yada but we have all learned by now TB's just blowing smoke until he proves otherwise. Core samples don't mean money in the bank 100's of bopd does.
If they do have land capable of producing economical amounts of oil (which is still up in the air), there is still a huge question whether they will ever drill a successful profitable well on that land and regularly? Frequently enough to grow the company substantially?. The odds are heavy against SSN imo especially when you consider pace of operations.
SSN Price at posting:
4.9¢ Sentiment: Sell Disclosure: Not Held
