HAWKS SPRINGS PROJECT WYOMING"Samson has received two well...

HAWKS SPRINGS PROJECT WYOMING

"Samson has received two well proposals from Chesapeake. The wells proposed to be drilled by Chesapeake are located on the southern boundary of the Hawks Springs project, and are expected to be drilled consecutively in September and October of this year. Samson has until July 12 to elect to participate and will use this time to evaluate the proposals and make a decision"


So Samson have to the 12th of July to make a decision to except the proposal with CHK.

If SSN decline to take up the offer it would be interesting if the deal may have to change from CHK point of view, more to the point what is it that CHK need from SSN is the real question, because the way i read the announcement, the wells will still go ahead with or without Samson, as they have been set down for September and October this year.

Because they have not given us any details on the deal, it is impossible to be able to make a proper valuation, but it doesn't stop us from making assumptions as many posters have.

Nevertheless we have a sniff of a deal or a further JV on our Hawk Springs Project and the market has an instant reaction, with so much more to come over the next month very happy to sit tight and watch it all unfold.

GLTA