email from terry, page-10

Thanks for your post LFC and Happy New Year to you.

We aren't going to hit it out of the park with every drill.

I was hopeful with Muddy J but knew that was an effort to salvage some of the 4 million that we had spent. To me, it was worth a shot and we have more geological information from the well at the least.

The share price stood last Friday at 1.98 if I am not mistaken and closed today at 1.95 with an announcement last night of a stopped up North Dakota horizontal, a Niobrara horizontal that needs a little workover, and as Terry so stated, a Bakken well that has once again been successfully placed the entire distance in the middle Bakken with all the liners in place and ready to frac.

If someone would have said last Friday that the SP would go down from 1.98 to only 1.95 with news that SOA has not produced a bit of oil, Everett is clogged up at stage 11 and put on pause, Defender is still up in the air and we are going to replace the pump jack, and Roosevelt is finished 2 weeks later than earlier anticipated, I would take that in a second.

Remember we were sitting in the upper 1.60's a VERY short time ago. Good luck in the new year everyone and may we all count our blessings.

After all the insanity that this year held worldwide as well as unfortunate circumstances for SSN, most of us longs probably still saw profits between 35-45%. Institutions would kill for those type of returns and many of us here were fortunate enough to be the recipients of such a return. Just putting things into perspective.

I think we get at least a double in 2012 along with a JV in the first half of the year and possible T/O by EOY 2012.

Let's hope Gretel looks as good. If so, we will have 2 wells on opposite sides of our lease proving up the ground in between.

Thanks TB for moving the company forward and for all the great posts in the past year you all. Later all SSN'ers and have a great 2012!
STS