SSN 0.00% 1.5¢ samson oil & gas limited

operational update, page-49

  1. 3,089 Posts.
    I googled the story on Chinese firms wanting to buy US fracking crews that was on the WSJ on 16th Dec 11. It was a subscription only story which reminded me why I skimmed over the brief lead in to the story.
    Anyway, here it is - tells you enough to get an idea of the demand pressure for frack crews:

    "China bids in Fracking" (Wall Street Journal, online version, 16th December 2011 - subscription only story).

    "CNOOC Ltd and China Petrochemical Corp are competing to buy a 30% stake in Texas based 'Frac Tech Holdings LLC' in a deal that could be valued at about US$ 2 Billion, a person familar with the situation said.
    State controlled Saudi Arabian Oil Co. also is bidding, the person said".

    I don't think SSN can afford those kind of prices, or compete against huge State controlled organisations!
    Well, not for a few years anyway.

 
watchlist Created with Sketch. Add SSN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.