re: hartleys report
I can understand the frustration with some holders regarding information supplied by the company and the delays in some of their projects.
At times I feel the frustration as well.
My research over the last year on SSN has given me the reasons of why I hold and what I think the company value is really worth.
Anyone who has bothered to do their research on SSN knows it is way undervalued and has huge potential.
Theres properly a 100 questions you could ask Terry Barr and still find more, but the real questions have already been answered in my view, at this stage.
Why did CHK purchased 24000 acres at $74M when they could have bought other leases in the surrounding area for considerably less.
We know they are in discussions with a strategic partner(s) to their remaining leases. Obviously Terry will make sure that the JV will deliver all the working equipment and expertise necessary to develop their holding, especially as this play hots up in 2011.
We know that TB has bought in the sweet spot within the Niobrara
"Samsons acreage contains a significant geological feature, known as the Goshen hole uplift, and is thought that his may be conducive to the occurrence of natural fracturing. The resistivity contours over the Goshen hole shows an anomaly that indicates increased prospectively for oil. A similar anomaly exists over the Silo field which has produced >10 million barrels of oil".
And when they can prove Terrys EUR of 413 MBOE and dont forget CHK has it at 500 MBOE well if you have done the sums like I have, you will know the upside potential to the SP.
Patients will be needed short time but you will be rewarded
Extremely glad to be a holder of SSN
SSN Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
