Like many here today, took a big, big hit and sold out quite a...

Like many here today, took a big, big hit and sold out quite a few.

A fair bit of panic around and also a fair bit of rubbish being spoken that things will turn out OK. Usually in the O&G game if the milk smells off, it's sour and isn't about to become drinkable.

So what is our shining white knight? One thing that has not been mentioned today is takeover.

1. We know that there is oil in virtually every well SSn drill.
2. We know they are operationally incompetent and can't get oil to flow out of any of them.
3. Shareholder confidence is gone and people want out.
4. Niobara excepted (and maybe even this acreage) we know that bigger boys with deeper pockects are having better success by throwing more money at the problem (bacuase they can).

If I was Continental and I believed in my Roosevelt acreage I would be emptying my piggy bank right now. SSn would attract a very low takeover premium at the moment with Niobara essentially thrown in for free.

Here's hoping so we can all make an 'orderly exit' - unlike the Greeks.....

commiserations and good luck, hey it's oil and gas!

cheers,

Oilman