41c is the magic number.
If u've seen their last couple of slides on their preso, SSN has an NPV of US$682m or US8.20/sh (ratio is 20:1, which equates to A$0.41/sh).
It's interesting b'coz BHP were eyeing Anadarko (APC) & then out of the blue came the deal for CHK's Fayetteville Shale assets in Arkansas for US$4.75b which is the largest US Shale gas transaction.
Note this transaction will take abt 12 months. So u never what else might eventuate during that period. Given that China's CNOOC just handed a chq (US$1.27b, US$570m cash + US$697m in drilling costs for 33.33% in CHK's DJ basin & Powder River Basins), I wouldn't rule them out.
Here's that link once again,
http://www.cnoocltd.com/encnoocltd/newszx/news/2011/1590.shtml
SSN's current mkt cap is US$293m & EV is US$252mil, so just the right time for anyone to take up a position.
Here r the major holders as per yahoo finance website.
http://finance.yahoo.com/q/mh?s=SSN+Major+Holders
List of top 20 holders until January end,
http://www.samsonoilandgas.com.au/IRM/content/investor_top20shareholders.html
As for CHK, they can let go of their other Shale-plays & perhaps consolidate as they do have a lot of debt US$12.64b, so u never know who rocks up at their head office nxt.
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