The thing I keep asking myself is where is the risk - even if the land sale falls through they still own the land - land which (correct me if I am wrong) is in demand and increasing in value. It is not going anywhere. They can always do a deal with someone else.
They are also cashed up due to SPP and are producing income from wells and future wells. Sure have debt but would still be managable.
For me they are a hold as they still own the assets that will not change and they have producing wells.
I have held the options at average cost of 2 cents but just cannot bring myself to sell as I believe given the above this could be that share that is a 10 or 20 x bagger.
Then I get this little voice saying it is too good too be true. Time will tell I guess.
SSN Price at posting:
4.8¢ Sentiment: Hold Disclosure: Held
