hawk springs project

Samsons Hawk Springs Project has 2 components

A 50% joint venture with Mountain Energy on 7882 acres and a 100% working interest in remaining 8,497 acres.

Dont forget SSN picked up 1125 acres at the midyear auction for around $200 per acre.
And a possible 4000 additional acres after the 3D Seismic on 65 square miles as per latest presentation by TB.



I wrote a letter to SSN on the 19/12/2010 and asked the following

On 8-Oct-2010 in the Strategic Growth Plan announcement, SSN said they were to "farm down a small part" of their retained acres.

Are you looking to farm down the 8,497 acres (100% working interest) or do you intend to farm down the 7,882 (50% WI) as well, if so do you have a time frame when this may happen.

Are you any closer with Zavanna obtaining a Frac crew for Earl #1-13H and Rodney #1-14H and if so when do you expect the wells to be fraced.

SSN in the past have been very good in replying to my questions, but I expect with market sensitive information we will have to wait for a general announcement.

It will be interesting if the JV will involve the 100% 8497 acres, or includes the remaining 7882 acres with Mountain energy, not to mention any additional leases which may be purchased in the coming months.

Next week we move into the 1st quarter of 2011 where the play will really heat up.

Just to wet our appetites I have written down a few forthcoming events

Joint Venture - Hawk Springs Project

3-D seismic survey to be completed and analyzed

A dedicated frac crew to be placed on a shared (50%) 12 month contract at no extra expense to SSN

Frac of Earl #1-13H and Rodney #1-14H

Gary#1-24H, update flow rate

December Quarterly figures released ( Last week in January )

Drill two appraisal wells in the Hawk Springs Project / Full scale development

Spud Diamondback #1 well in Jefferson County

Spud Harstad #2-15H

Potential 3 forks formation and 320 acre spacing for North Dakota (waiting approval)

Niobrara wells to come off the confidential list (CHK, EOG and others)

Debt paid off in May

Sale of existing gas assets (Reduce CGT)

I know it has been slow over the last couple of months but those holders who have done their research and show patience will be rewarded in my opinion.

The SSN thread on HC has been a great one, thank you all who have contributed.

Good luck to all holders and I would like to wish you a Happy New Year.