Hopefully, SSN will increase its Proved reserves significantly by year end, even if I find it highly unlikely.
SSN currently has Enterprise Value at approximately US$60 million, while having only 1.8 MMboe of Proved reserves.
This translates into $33 per boe which is a very high metric, given also that SSN is not an operator.
The junior peers in the US and Canada trade at $20 per boe of Proved Reserves or lower.