i now probably own about 1% of ssn :), page-8

Hi guys,
I think some of you may heave missed the :) smiley face at the end of the thread title. I don't quite own 1% of the stock, that was an exaggeration and not meant to have been taken literally but since I should have made that much clearer, I will try and regain my credibility by here and tell you that yes its true that 90% of my portfolio, as of today, consists of SSN and SSNO and the portfolio is in the hundreds of thousands of dollars. I don't feel comfortable telling people how much my protfolio is worth but I feel that I should have made my comment clearer and I definately don't want to mislead anyone on this forum because I appreciate the importance of this forum to all of us and I want to ensure that my contribution is not misleading and that it is constructive. After all, it is by following Wilson's contributions that brought my attention to SSN in the first place. Sorry if you missed the smiley face guys, but for what its worth, I would not be buying in at this point if I didn't feel comfortable in doing so. I will be losing my house if these shares sink.

At the end of the day I am comfortable with this decision because this is just a delay. The certainty of the transaction has not been undermined because of the delay. If anything, the buyer putting down $10mil of assurance money puts us in a better place than we were last night. It means that they don't want to miss out. Furthermore, what people failed to see through all of this is that there were several conditions that SSN had to fulfill to ensure the full $79.1 mil payment goes through.

See the below extract from the June 25 announcement:

The likely pricing variables for this transaction, as described above, can be summarized as follows:

All current holdings subject to the transaction
US$ 79.1 million

If the Exploratory Unit is not formed
US$ 69.8 million

If the Unit is not formed and the drilling operations are not commenced prior to the leases expiration
US$ 61.0 million

SSN did clearly state that they are on a tight time frame to ensure that these conditions are met. I don't know about anyone else but last night I still had a concern that we had not had an update on these conditions by SSN so close to an anticipated announcement. Therefore, should anyhing at this point still need to be seen to by SSN, the company has just been given an extra 6 or so weeks to fully comply with the conditions. Having said that, what reassures me even more, whether I'm right or wrong, is that the buyer putting down a $10mil deposit, AND (that's a big and) SSN accepting the extension must mean that SSN are pretty comfortable with continuing with this transaction.

Its obvious that some people had to take their money out of SSN today because of the way they have structured their finances, and I hope that they made some money - it'd be a shame if they didn't, and thanks to them, I hope that those of us who can sit tight, have just been given an opportunity to make even more money.

Now I have to stop to breathe :)

I sincerely wish everyone here all the best and just remember that what ever the hype or the down ramping, just imagine that every such post is written by somebody on a litre of red cordial, very excited :)

This really will be an exciting month.

Regards, guys.