SSN IMO will not be able to complete any the 4 wells in North Dakota because of the lack of funds available and the poor response to the RI. If SSN are to increase their SP they need to complete these wells with a positive result, I believe they will now have to sell Roosevelt whilst it still has some value particularly in the southern part of their acreage because you can’t see them drilling any further wells. They may even be able to sell a further WI in their current campaign to Continental so the wells can be complete, SSN cannot afford to have these wells uncompleted where the current SP is sitting, considering banks are unwilling to lend and institutions are reluctant to subscribe.
Cheers Matsim
SSN Price at posting:
2.4¢ Sentiment: None Disclosure: Not Held
