Many oilers at the less speculative end of the scale have already realised a revaluation. SSN has not got a lift on the same wave.
IMO the market is simply accepting a very high probablity of success at Fort Peck and has acted accordingly. The Enercom Conference rubbed the reality of SSN's lower risk profile home. Availability of pipelines and other infrastructure in the vicinity of FP is the other key.
Traders can make a lot of money during a sector revaluation becasue the wave does not visit on all companies at the same time. Some may be missed by the wave altogether due to perceived risk profiles and poor cash & debt positions.
With flow back apparently yet to happen at Australia II there would not I think be much news to leak ...... though when flowback and testing does happen in the very near future, plenty of tribal eyes will take note.
Not long to 20c IMO.
cheers
SSN Price at posting:
14.0¢ Sentiment: None Disclosure: Held
