Just wanted to check did these companies have land valued at $130 million and producing wells which will soon be converted to between $US60 million to $US79 million in the bank while retaining 40% of that $130 million land with future royalty.
In addition they own other acerage that they want to develop.
They have $9 million in the bank to cover the next lot of drilling plus additional land purchase in proven areas this alone should make this share higher than what it is trading at today. These wells will be cashflow producing for a long time.
Even if the land sale falls through they still OWN the land, it is not going anywhere subject to an earthquake.
I do not know what the share will be worth in 6 months or 12 months but it has to be worth more than 6 cents cosidering all the above that it closed at today.
We should not compare to failed companies that had huge debt and reliance on one product.
If everyone thought like half the people commenting on SSN - BHP and RIO would still be under 10 cents today.
SSN Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
