Inside Trader rates SSN 10 from 10 last month and this month...
Last month I noted www.theinsidetrader.com.au rated Samson their highest BUY rating of 10 from 10. Not too many small specs producers ever get this rating. I do not think we will be calling them a small speccie producer for too much longer now. When they were around the 6c mark... this was a no brainer in hindsight as many of us been stating how undervalued SSN been for soooo long.
Now Inside Trader rates it a 10 from 10 again, when trading approx. 9c. I feel it important for investors or traders to have a value on this Coy to feel secure based on their investment or trading rules.
Underlying value is cash in bank, 2 producing wells and rich oil land. Lest us not forget potential royalities from Chesapeake of 3.8% on every $1 they produce in the future. Probability of further wells is now very high and basically a 'give me'. As some very rich oil grades have been forthcoming.
Now we are being more fairly valued (finally) on just the underlying value. Yet being bullish on the Coy I feel the Rich oil land full price is yet to be realised for awhile yet.
Risk reward wise we have a great base value with some spec value being priced in now IMO. As talks I have had with Management is full of bullish assumptions moving forward. 2 more producing wells is probable in the ST IMO (1-4 months).
Other brokers have valued from 16.5c to 65c... TB states in years to come he forsees $1 ASX trade value.
Those quoting broker targets should quote in ASX pricing, as opposed to US issue of shares. IMO. 20:1
Cheers Jay
SSN Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
