TB has been travelling from state to state country to country trying to sell SSN to institutional investors over the last 12 – 18 months. The time is getting very close to the business end where the best way to sell to instos will be in their flow rates and evidence of the commercial viability of their projects.
When looking at what TB has done, first with Hawk Springs regarding its initial purchase price and partial sale to CHK was extraordinary and now with Roosevelt for $6M he has purchased approximately 30,000 net acres with the buy back option from FPEC at 200 per acre. Effectively he has bought a slice of the Bakken for the cost of drilling one well.
I have a lot of confidence in TB and his ability which have created the opportunities SSN have right now and I also have the confidence in his ability to create wealth for investors in these projects and whatever else he has in store.
Good luck Matsim
SSN Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
