EOK holds the leases that borders the boundry of SSNs southern acreage. EOK is a US$28bil company, so in the same league as Woodside WPL. It is currently pursueing an agressive acquisition program for unconventional oil acreage.It expects to have capex of US$5bil this year.
Could they be the company buying SSNs acreage??? It would certainly make sense to increase interconnected acreage. With SSN holding a 4.8% royalty it would be in the our best interest to award the acreage such a company..
SSN Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held