SSN 0.00% 1.5¢ samson oil & gas limited

spirit of america

  1. 258 Posts.
    This is from Hartleys in July 2011.
    Reading into it Defender was not the make or break, it will be the potential of the next drill "Spirit of America" that will drive up the value of SSN.
    Defender was an appraisal well to halp locate the best target. It has showed us that the Oil is there. Money is riding on TBs experience now and going on the upside potential the only way for the SP from here should be up!!!


    Samson has ~15,000 net acres in its Hawk Springs Project, which is prospective for liquids rich production from the Niobrara Shale.
    Conventional Drilling at Forgotten Sweetener
    The recent 3D seismic identified several conventional targets that are analogous to producing fields elsewhere in the region. The first of these, Spirit of America
    US34 #1-29H, will be drilled directly after the Defender well. It will test potential of up to 10 million barrels of oil at two different reservoir levels. Any success would have significant follow up potential, which could add >$1b for the Company (in the upside case).
    First Tranche of Roosevelt Closed – Drilling Soon to Follow
    ... ...
    Huge Optionality Largely Ignored by Risk Averse Market
    Samson has recently added two significant projects to its Niobrara potential, being the Roosevelt Bakken Project and the conventional oil project at Hawk Springs. In spite of this additional upside potential, the share price has not
    moved as the market continues to remain risk averse. The upside potential of the Company has increased and now investors have 3 chances at >$500m instead of 1. Crystallisation of this potential will occur through the drilling of up to 6 wells prior to the end of the year, with significant cash on hand post funding.
    We rate Samson as a Buy with a 6 month price target of 27cps.
 
watchlist Created with Sketch. Add SSN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.