toby shute getting with the times, page-10

Yeah, he's half way there and the rest of you are off the wall!!

The entire exercise in valuation from all of these people and the HC sky's the limit brigade is faulty.

The valuations all put a value on SSN's retained acreage based on transactual basis.

How many times do people have to be told that:

1. SSN's retained land is not for sale. Therefore going forward it has only value as a production asset. It is a sunk cost.

2. Not one well has been drilled and not one ounce of oil has been produced. Just putting a little cart before the horse on SSN there folks. Better take a look at NSE and BUR's announcement out today.

3. Some "JV" - a one well JV. I'd call that a farmin in just like SSN did. We have one well for certain. That's it.

TCG:

Just for you from the post:

"That leaves Samson's retained 14,883 net acres, plus its net cash."

sw3:

Again another analysis that people on HC don't agree with and its 'downramping'.

buc:

Do Haliburton, Chesapeake, CNOOC, and TB have ESP? If so why is SSN still so small?

Here is what is going to happen: some wells will hit, some wells won't, some wells may have good flows, and some wells won't. Just to refresh your memmory and look at all the poor Ozzie oilers that were supposed to have the next sure well: Hardman, ROC, PSA, AMU, NSE, BUR, BRU, ARC, ADE, ELK, MEO, NXS, and so on.

So a little reality is needed.

And by the way, the article is at the upper end of my valuation of 9.3 to 10.2 cents per share.