IMO the SSN Board of Directors have secured their wages for the...

IMO the SSN Board of Directors have secured their wages for the next couple of years at shareholders expense. They have now diluted the SP over the last 3 months approx 40% which is about 3 years of Admin costs.

If SSN where serious about Shareholders wealth they could have added real value by a successful refrac of Defender or drilled just one well in the 3 Forks Formation to further prove North Dakota. Instead they drilled 2 wells into the Middle Bakken and moved Frontier to another location before testing the 3 Forks. Any success in either location would have added substantial value to the SP where a CR could have been done at a higher level with far less dilution.

You would have to question whether there would be commercial oil in Defender or the 3 Forks when SSN keep delaying.

SSN may have raise funds via the CR; selling Roosevelt and now diluting the North Stockyard project, so how many successful wells will SSN now need to drill in order to start making a profit at current Working Interest.

Cheers Matsim