SSN - Samson Oil & Gas
- Thread starter yogi-in-oz
- Start date
-
- Tags
- samson oil & gas ssn
Anyone watching US overnight? Trend continues low of $1.92 and high of $2.45 on volume approaching 7m (x 20 for each ADR to get Aus equilavent) and currently pushing $2.30 with 30 minutes to close. At this pice Aus equilavent is around 11.5c - do those Americans know something? This has been building since 29/12/10 from a low of $1.10. Be interesting to see where we close.
nice trend building up and today's market dept at 09:18am on Jan 19th
http://www.google.com/finance?chdnp...0048&chls=IntervalBasedLine&q=AMEX:SSN&ntsp=0
http://www.google.com/finance?chdnp...0048&chls=IntervalBasedLine&q=AMEX:SSN&ntsp=0
Attachments
very nice push up here on no news, what is happening? Technicals look at a resistance level of 11c long term but all technicals are not a lot of help when I stock moves up like SSN has in the last few days of trading. Nice to be a part of it, and yes it will be interesting to see where we close from here. 
- Joined
- 3 May 2009
- Posts
- 515
- Reactions
- 2
very nice push up here on no news, what is happening? Technicals look at a resistance level of 11c long term but all technicals are not a lot of help when I stock moves up like SSN has in the last few days of trading. Nice to be a part of it, and yes it will be interesting to see where we close from here.
Looks pretty well supported at 11 cents which after the last quarter is a pretty nice place for us to be!
It does seem rather curious that the price has shot up so fast on no news though. the only problem is if it's all speculatative it could come back down just as quickly.
Quarterly due out next week will shed some more light on things perhaps.
Until then happy days for us all
Samson Oil & Gas: Currently Undervalued - Even in Most Pessimistic Scenario :
link: http://seekingalpha.com/article/246...undervalued-even-in-most-pessimistic-scenario
Over the last year, I have been actively buying and selling three sectors. The first is uranium; the second is fertilizer; and the third is oil drillers in the Bakken Shale: Brigham Exploration (BEXP), Oasis Petroleum (OAS), and Northern Oil & Gas Inc. (NOG). The third hasn’t produced the best profits, but not many sectors have done better than uranium.
I like the Bakken for several reasons. The first is the size; the second is that it's highly levered to oil; and the third is locale. While preparing Brigham: Outstanding Drilling Results in the Bakken Shale, I ran across information on Samson Oil & Gas (SSN). After some exploring, I found it had three wells already in the Bakken, and a small market cap of $70 million. For the year, this company was already up over 400%. I got even more interested after reading their November 2010 AGM Presentation. Samson has all of their oil and gas assets in the United States, and they are trying to reduce their exposure to natural gas and increase oil. This included the sale of their Rockies assets and 24 thousand acres in the Niobrara Shale in Wyoming for $74 million. At the time of this presentation they had $11.1 million in debt and $76 million in cash. This sale has provided much needed capital for Samson to develop their oil rich Bakken and Niobrara locations.
It also decreased their exposure to lower margin natural gas. Not only did this sale provide Samson with $3275 per acre, but also provided them with a 3.8% royalty interest in the project sold to Chesapeake (CHK). So not only did this sale provide immediate liquidity to develop the oily section of their Niobrara holdings, but it also provides cash flow from operations as Chesapeake pays a royalty to Samson.
As I looked further into Samson's website, I found two interesting reports done by Enercom. The first was done in August. Just before the report was completed there was a fairly large jump in stock price. I could be wrong, but valuation with respect to Samson may be low based on their history as a natural gas producer, and even with the recent run up in stock price, their newfound oil positions look to create further value in the long term.
The Enercom report found some very interesting and bullish reasons to own Samson. The most important was the long term NAV. Enercom gave three different scenarios with respect to how Samson should be valued. The information is highlighted on page 16 of their report. To quote from Enercom's report:
Using a net asset valuation methodology, we are estimating Samson's risked long term NAV per basic ADS to range between $3.30 and $11.57 per basic share, contingent on the company's operated drilling program and the pace of the development of the sold Niobrara acreage in which the company retained a 3.8% overriding royalty interest.
They go on to say
We have not attributed any value to Samson's exploration portfolio; however, future drilling successes represent incremental value catalysts.
Even in the most pessimistic scenario, the share price at close on Friday of $1.95 looks to be low when using a long term metric.
When looking through the report, I think near term there could be a huge catalyst on the completion of the 3-D seismic survey that Samson is paying $2.5 million to produce. Due to the large numbers of wells being spud in the Niobrara, Enercom believes news from any number of these companies - APC, CHK, EOG, NBL, QEP, REXX, and SM - could provide catalysts to push Samson's stock higher.
Enercom uses a methodology of comparing other companies located in the Bakken and Niobrara formations to develop what they believe Samson's value to be. The list of companies includes and is not limited to: CHK, EOG, NBL, REXX, SM, KWK, CRZO, CLR, and PQ. These companies were all used to develop what Enercom believes Samson's value should be.
Even if you believe that the Enercom report is much too optimistic with respect to Samson's value, I encourage everyone to read the report. It gives a good idea of how valuable oil rich shale can be to smaller companies with respect to long term growth.
link: http://seekingalpha.com/article/246...undervalued-even-in-most-pessimistic-scenario
Over the last year, I have been actively buying and selling three sectors. The first is uranium; the second is fertilizer; and the third is oil drillers in the Bakken Shale: Brigham Exploration (BEXP), Oasis Petroleum (OAS), and Northern Oil & Gas Inc. (NOG). The third hasn’t produced the best profits, but not many sectors have done better than uranium.
I like the Bakken for several reasons. The first is the size; the second is that it's highly levered to oil; and the third is locale. While preparing Brigham: Outstanding Drilling Results in the Bakken Shale, I ran across information on Samson Oil & Gas (SSN). After some exploring, I found it had three wells already in the Bakken, and a small market cap of $70 million. For the year, this company was already up over 400%. I got even more interested after reading their November 2010 AGM Presentation. Samson has all of their oil and gas assets in the United States, and they are trying to reduce their exposure to natural gas and increase oil. This included the sale of their Rockies assets and 24 thousand acres in the Niobrara Shale in Wyoming for $74 million. At the time of this presentation they had $11.1 million in debt and $76 million in cash. This sale has provided much needed capital for Samson to develop their oil rich Bakken and Niobrara locations.
It also decreased their exposure to lower margin natural gas. Not only did this sale provide Samson with $3275 per acre, but also provided them with a 3.8% royalty interest in the project sold to Chesapeake (CHK). So not only did this sale provide immediate liquidity to develop the oily section of their Niobrara holdings, but it also provides cash flow from operations as Chesapeake pays a royalty to Samson.
As I looked further into Samson's website, I found two interesting reports done by Enercom. The first was done in August. Just before the report was completed there was a fairly large jump in stock price. I could be wrong, but valuation with respect to Samson may be low based on their history as a natural gas producer, and even with the recent run up in stock price, their newfound oil positions look to create further value in the long term.
The Enercom report found some very interesting and bullish reasons to own Samson. The most important was the long term NAV. Enercom gave three different scenarios with respect to how Samson should be valued. The information is highlighted on page 16 of their report. To quote from Enercom's report:
Using a net asset valuation methodology, we are estimating Samson's risked long term NAV per basic ADS to range between $3.30 and $11.57 per basic share, contingent on the company's operated drilling program and the pace of the development of the sold Niobrara acreage in which the company retained a 3.8% overriding royalty interest.
They go on to say
We have not attributed any value to Samson's exploration portfolio; however, future drilling successes represent incremental value catalysts.
Even in the most pessimistic scenario, the share price at close on Friday of $1.95 looks to be low when using a long term metric.
When looking through the report, I think near term there could be a huge catalyst on the completion of the 3-D seismic survey that Samson is paying $2.5 million to produce. Due to the large numbers of wells being spud in the Niobrara, Enercom believes news from any number of these companies - APC, CHK, EOG, NBL, QEP, REXX, and SM - could provide catalysts to push Samson's stock higher.
Enercom uses a methodology of comparing other companies located in the Bakken and Niobrara formations to develop what they believe Samson's value to be. The list of companies includes and is not limited to: CHK, EOG, NBL, REXX, SM, KWK, CRZO, CLR, and PQ. These companies were all used to develop what Enercom believes Samson's value should be.
Even if you believe that the Enercom report is much too optimistic with respect to Samson's value, I encourage everyone to read the report. It gives a good idea of how valuable oil rich shale can be to smaller companies with respect to long term growth.
Posted on Yahoo message board. http://messages.finance.yahoo.com/B...cks_S/threadview?bn=73032&tid=36061&mid=36142
by dlotto28.... This poster has been posting what is happening on the ground for the last month. No proof, but no one is coming out saying otherwise.
------------------
Well, they are done fracking Enterpise. They are moving everything to Intrepid. They flared the gas off Enterprise. The wind was really blowing, but it looked like the flame was about four feet long. I know it burned for at least 7 hours because a neighbor saw it and I went to look at it a few hours later. There is a big black tank the size of the storage tanks close to the well head. I don't know what that is for. There was also some kind gas truck there this evening.
All your advise is appreciated. I don't have the money to invest in the stocks. I have to watch along with you guys and hope they get something. I am going to a land owners meeting in the morning after I get off work. I will see if there is any new excitement.
by dlotto28.... This poster has been posting what is happening on the ground for the last month. No proof, but no one is coming out saying otherwise.
------------------
Well, they are done fracking Enterpise. They are moving everything to Intrepid. They flared the gas off Enterprise. The wind was really blowing, but it looked like the flame was about four feet long. I know it burned for at least 7 hours because a neighbor saw it and I went to look at it a few hours later. There is a big black tank the size of the storage tanks close to the well head. I don't know what that is for. There was also some kind gas truck there this evening.
All your advise is appreciated. I don't have the money to invest in the stocks. I have to watch along with you guys and hope they get something. I am going to a land owners meeting in the morning after I get off work. I will see if there is any new excitement.
Halliburton Conference Call yesterday raised some interesting detail that paints some pictures re SSN.
In the fourth quarter, we continue to experience tightness and equipment shortages in basins that are undergoing rapid growth like the Eagle Ford and the Bakken. Average rig count in those two basins grew about 20% from Q3 to Q4, and discussions with operators indicate that the escalation in activities for these plays is not abating. Further, well complexity continues to rise within these plays, with lateral lengths that are now reaching beyond a mile. In fact, one operator has indicated that their future wells in the Eagle Ford will be drilled with an approximately 10,000-foot lateral, an increase from the current average length of 6,000 for that basin.
Longer laterals, of course, mean more frac stages and higher demand in utilization of horsepower capacity. The shift in the oil and liquid-rich plays continues, it was quite apparent in the fourth quarter. The U.S. rig count grew sequentially 4%, but gas activity was down 2% and oil directed rigs increased 15%. This shift has been ongoing since the start of 2010 and, as our results demonstrate, has been beneficial in the dramatic recovery in our revenue and operating income.
Work in the oil and liquids-rich plays can be a service intensive as the dry gas basins because these reservoirs require complex fluid systems to enhance conductivity, along the entire length of the lateral. In addition, operators are using increased number of stages to exploit their production potential. This is evidenced in the Bakken shale where the leading-edge count of frac stages now exceeds 40. The average number of frac stages per well in the industry has more than doubled in the last two years. It is possible that this rate may moderate in the coming year. However, the continued shift to liquids suggest that the growth in the average number of stages will remain high in 2011.
Second, unconventional resources are lending themselves to large well programs and have resulted in operators entering into longer-term contracting arrangements to ensure continuity of the supply for pressure pumping services. We believe that a large portion of the new equipment coming into the market is under these types of longer-term contracts. This will reduce the amount of speculative or opportunistic capacity that will chase the call out market and with it, the potential to exert downward pressure on stimulation prices.
Next, we believe that the number of uncompleted wells increased during the fourth quarter, and now are in a range of 3,200 by the end of the year. Further, we expect that this count will rise in the first quarter of 2011 despite the anticipated capacity additions. This should provide stability to frac demand even in a flattening rig count scenario.
Next, we saw the industries number of wells drilled per rig increased approximately 15%, resulting from the application of drilling optimization techniques. As the number of wells continues to increase on a per rig basis because of these incremental efficiencies, we believe that stimulation demand can continue to outpace the rig count.
And when you think about the last soft cycle we had in North America 2008, 2009, Halliburton gained market share as the industry turned down. I believe price concessions were given more quickly by the smaller players. What would you expect -- if the market reaches that point this cycle, how does it play out?
David Lesar
Well, I think if it plays out that way, and as I said, we don't believe at least as it applies to Halliburton. That is a scenario that will play out in 2011. But if it did, I expect that it would have a very similar outcome in that because of our ability to integrate the fact that we are aligned with the customers that we believe will be the last to put rigs down, the ones that are more liquid or rich gas focus, that we would gain market share and our pricing would come under pressure probably at the end of the line of the other pumping companies.
Brad Handler - Crédit Suisse AG
Has there been some change in sentiment in conversations with your customers, given the move in oil prices in the last two or three months?
David Lesar
I mean, certainly, the contact level and inquiry level from customers about the availability of equipment, about the availability of resources has gone up. And I think the customer base is getting more convinced that the higher liquids prices are really here to stay and they need to move on with projects, so the discussions have increased. But remember, the international market is typically a tender-based market and it takes a while for those inquiries to turn into tenders, to turn into awards, to turn into work. So as I said, we are very, very bullish on the fact that we're coming into a big spending up cycle in the international market here. But I think people need to understand that it's not a matter of just picking up the phone and going to work. There's quite a process involved from the time you get the first inquiry to the time you bill your first revenue.
John Anderson - JP Morgan Chase & Co
And then last quarter we were talking about -- you had mentioned 3,200 wells or so uncompleted and I think last quarter, if I'm not mistaken, you said three to four months of equipment backlog in certain basins. Some of the E&Ps we've been hearing lately have been talking about really kind of capacity has been alleviated -- capacity should have been alleviated in the Haynesville, but how does that now look in kind of the Bakken, Eagle Ford, and some of the others? Are you still seeing that kind of backlog, and kind of how does that progress over the next couple of quarters in your mind?
David Lesar
[B]Well, I think if you look at, again, the oil basins, liquid basins, like the Eagle Ford and the Bakken, we are still substantially backlog on work and there is not enough equipment in those markets. I think that we are seeing some rigs start to leave the Haynesville, but they're going directly to the Eagle Ford to go to work. So yes, there is the number of wells in inventory is set of at the high range of where we thought it would be. As I indicated, we believe it will go up even more in Q1, which I think Dave, indicates to you that there's still an imbalance between the ability to get to that work with the available horsepower versus the rate the wells are being drilled at.[/B]
In the fourth quarter, we continue to experience tightness and equipment shortages in basins that are undergoing rapid growth like the Eagle Ford and the Bakken. Average rig count in those two basins grew about 20% from Q3 to Q4, and discussions with operators indicate that the escalation in activities for these plays is not abating. Further, well complexity continues to rise within these plays, with lateral lengths that are now reaching beyond a mile. In fact, one operator has indicated that their future wells in the Eagle Ford will be drilled with an approximately 10,000-foot lateral, an increase from the current average length of 6,000 for that basin.
Longer laterals, of course, mean more frac stages and higher demand in utilization of horsepower capacity. The shift in the oil and liquid-rich plays continues, it was quite apparent in the fourth quarter. The U.S. rig count grew sequentially 4%, but gas activity was down 2% and oil directed rigs increased 15%. This shift has been ongoing since the start of 2010 and, as our results demonstrate, has been beneficial in the dramatic recovery in our revenue and operating income.
Work in the oil and liquids-rich plays can be a service intensive as the dry gas basins because these reservoirs require complex fluid systems to enhance conductivity, along the entire length of the lateral. In addition, operators are using increased number of stages to exploit their production potential. This is evidenced in the Bakken shale where the leading-edge count of frac stages now exceeds 40. The average number of frac stages per well in the industry has more than doubled in the last two years. It is possible that this rate may moderate in the coming year. However, the continued shift to liquids suggest that the growth in the average number of stages will remain high in 2011.
Second, unconventional resources are lending themselves to large well programs and have resulted in operators entering into longer-term contracting arrangements to ensure continuity of the supply for pressure pumping services. We believe that a large portion of the new equipment coming into the market is under these types of longer-term contracts. This will reduce the amount of speculative or opportunistic capacity that will chase the call out market and with it, the potential to exert downward pressure on stimulation prices.
Next, we believe that the number of uncompleted wells increased during the fourth quarter, and now are in a range of 3,200 by the end of the year. Further, we expect that this count will rise in the first quarter of 2011 despite the anticipated capacity additions. This should provide stability to frac demand even in a flattening rig count scenario.
Next, we saw the industries number of wells drilled per rig increased approximately 15%, resulting from the application of drilling optimization techniques. As the number of wells continues to increase on a per rig basis because of these incremental efficiencies, we believe that stimulation demand can continue to outpace the rig count.
And when you think about the last soft cycle we had in North America 2008, 2009, Halliburton gained market share as the industry turned down. I believe price concessions were given more quickly by the smaller players. What would you expect -- if the market reaches that point this cycle, how does it play out?
David Lesar
Well, I think if it plays out that way, and as I said, we don't believe at least as it applies to Halliburton. That is a scenario that will play out in 2011. But if it did, I expect that it would have a very similar outcome in that because of our ability to integrate the fact that we are aligned with the customers that we believe will be the last to put rigs down, the ones that are more liquid or rich gas focus, that we would gain market share and our pricing would come under pressure probably at the end of the line of the other pumping companies.
Brad Handler - Crédit Suisse AG
Has there been some change in sentiment in conversations with your customers, given the move in oil prices in the last two or three months?
David Lesar
I mean, certainly, the contact level and inquiry level from customers about the availability of equipment, about the availability of resources has gone up. And I think the customer base is getting more convinced that the higher liquids prices are really here to stay and they need to move on with projects, so the discussions have increased. But remember, the international market is typically a tender-based market and it takes a while for those inquiries to turn into tenders, to turn into awards, to turn into work. So as I said, we are very, very bullish on the fact that we're coming into a big spending up cycle in the international market here. But I think people need to understand that it's not a matter of just picking up the phone and going to work. There's quite a process involved from the time you get the first inquiry to the time you bill your first revenue.
John Anderson - JP Morgan Chase & Co
And then last quarter we were talking about -- you had mentioned 3,200 wells or so uncompleted and I think last quarter, if I'm not mistaken, you said three to four months of equipment backlog in certain basins. Some of the E&Ps we've been hearing lately have been talking about really kind of capacity has been alleviated -- capacity should have been alleviated in the Haynesville, but how does that now look in kind of the Bakken, Eagle Ford, and some of the others? Are you still seeing that kind of backlog, and kind of how does that progress over the next couple of quarters in your mind?
David Lesar
[B]Well, I think if you look at, again, the oil basins, liquid basins, like the Eagle Ford and the Bakken, we are still substantially backlog on work and there is not enough equipment in those markets. I think that we are seeing some rigs start to leave the Haynesville, but they're going directly to the Eagle Ford to go to work. So yes, there is the number of wells in inventory is set of at the high range of where we thought it would be. As I indicated, we believe it will go up even more in Q1, which I think Dave, indicates to you that there's still an imbalance between the ability to get to that work with the available horsepower versus the rate the wells are being drilled at.[/B]
It appears the oil prodution from for the SSN Bakken wells has been updated on the ND website, link: https://www.dmr.nd.gov/oilgas/bakkenwells.asp. - select Middle Bakken from drop down menu. Please note the gas rates have not yet been updated to Dec 10.
I have been following this website and this is what my records indicate for the quarter:
30/09/10 Gary (well no. 18824) had produced 7,562BOPD and 31/12/10 it had produced 46,092BOPD giving for the Dec 10 quarter - 38,530BOPD. The share to SSN is 37% or about 14,250BOPD.
30/09/10 Gene (well no. 18009) had produced 59,620BOPD and 31/12/10 it had produced 74,918BOPD giving for the Dec 10 quarter - 15,298BOPD. The share to SSN is 30.60% or about 4,680BOPD
30/09/10 Leonard (well no. 17446) had produced 68,008BOPD and 31/12/10 it had produced 73,685BOPD giving for the Dec 10 quarter - 5,677BOPD. The share to SSN is 10% or about 568BOPD.
Therefore from these 3 Bakken Wells production for the quarter to SSN should be around 19,500BOPD. Of course need to wait for SSN confirmation in quarterly but I have found the above website to be around the mark and it is the offical Bakken production website from what I understand. Compare this to Sept 10 total production to SSN of 11,736BOPD from all producing wells. So I would expect a decent quarterly if we add all the other non Bakken Wells and would come close to doubling the Sep 10 production numbers.
As Yarrabah pointed out the delay's in drilling from all operators in the area is going to effect this (Mar 11) quarter's production if we cannot get Rodney/Earl completed due to the decline rates (especially Gary) but with strong cash position and some cashflow from all the other assets and the fact Rodney/Earl have been paid for previously this will not be a critical issue, although may effect the ST share price, not sure.
Rodney (well no. 18054) has also come off confidential list but as not frac does not appear on the above list, so we can follow this one once completed. Earl (well no. 19328) again not completed and comes off confidential list 28/3/11.
Therefore it is important the JV is a good one for the Niobrarra to avoid this issue of delay's and to grow production, after all that is our key business. Holding LT at present.
Should be a decent quarterly I would have thought. If anyone has similar numbers or queries in relation to the above please let me know.
I have been following this website and this is what my records indicate for the quarter:
30/09/10 Gary (well no. 18824) had produced 7,562BOPD and 31/12/10 it had produced 46,092BOPD giving for the Dec 10 quarter - 38,530BOPD. The share to SSN is 37% or about 14,250BOPD.
30/09/10 Gene (well no. 18009) had produced 59,620BOPD and 31/12/10 it had produced 74,918BOPD giving for the Dec 10 quarter - 15,298BOPD. The share to SSN is 30.60% or about 4,680BOPD
30/09/10 Leonard (well no. 17446) had produced 68,008BOPD and 31/12/10 it had produced 73,685BOPD giving for the Dec 10 quarter - 5,677BOPD. The share to SSN is 10% or about 568BOPD.
Therefore from these 3 Bakken Wells production for the quarter to SSN should be around 19,500BOPD. Of course need to wait for SSN confirmation in quarterly but I have found the above website to be around the mark and it is the offical Bakken production website from what I understand. Compare this to Sept 10 total production to SSN of 11,736BOPD from all producing wells. So I would expect a decent quarterly if we add all the other non Bakken Wells and would come close to doubling the Sep 10 production numbers.
As Yarrabah pointed out the delay's in drilling from all operators in the area is going to effect this (Mar 11) quarter's production if we cannot get Rodney/Earl completed due to the decline rates (especially Gary) but with strong cash position and some cashflow from all the other assets and the fact Rodney/Earl have been paid for previously this will not be a critical issue, although may effect the ST share price, not sure.
Rodney (well no. 18054) has also come off confidential list but as not frac does not appear on the above list, so we can follow this one once completed. Earl (well no. 19328) again not completed and comes off confidential list 28/3/11.
Therefore it is important the JV is a good one for the Niobrarra to avoid this issue of delay's and to grow production, after all that is our key business. Holding LT at present.
Should be a decent quarterly I would have thought. If anyone has similar numbers or queries in relation to the above please let me know.
Thks Youtry
Testing times while we await JV. We need a big player to get the oil out of there and as HAL has indicated the over demand for horsepower puts service company s in the box seat. SSN has to get the deal on 'good terms'. Both players hold a couple of aces but one has a bigger bank. Poker at its best. I hope TB has his 'tells' in check. If we keep control of the agenda and we don't give too much away things should be good. Word is "Wyoming observers are cautiously optimistic regarding the CHK wells."
Anyway below is a blurb about Enercom in Feb that SSN will present. Going to check flights
EnerCom, Inc. announced today The Oil & Services Conference will be held at The Omni Hotel in San Francisco, on February 22-24, 2011. Interested participants can register to attend, find the list of presenting companies and view live webcasts at http://www.theoilandservicesconference.com.
As many issues are debated about how to develop and deliver new forms of energy that are cash efficient and clean, one issue remains evergreen – the world's constant and insatiable consumption of crude oil and natural gas. With the U.S. economy producing 1.8% more output during 3Q'10 than the pre-recession period of 3Q'08, and with forecasts of growth for world economies in 2011, it is apparent that all global regions – offshore and onshore – will be explored and developed to deliver the necessary energy to meet industrial expansion.
Attendees at this year's Conference will hear a select group of companies present their 2011 development and exploration plans. Growth will be the theme for this year's conference. Attendees will also hear from a group of energy analysts who will deliver presentations on their future outlook for trends and the direction for commodity prices.
Founded in 2003 by EnerCom, this annual Conference brings together executives and investment professionals in the global oil and gas industry. Each company presenter will deliver a 25-minute presentation, followed by company break-out sessions. Institutional investors and research analysts can schedule one-on-one meetings with presenting companies by contacting EnerCom prior to the Conference.
Testing times while we await JV. We need a big player to get the oil out of there and as HAL has indicated the over demand for horsepower puts service company s in the box seat. SSN has to get the deal on 'good terms'. Both players hold a couple of aces but one has a bigger bank. Poker at its best. I hope TB has his 'tells' in check. If we keep control of the agenda and we don't give too much away things should be good. Word is "Wyoming observers are cautiously optimistic regarding the CHK wells."
Anyway below is a blurb about Enercom in Feb that SSN will present. Going to check flights
EnerCom, Inc. announced today The Oil & Services Conference will be held at The Omni Hotel in San Francisco, on February 22-24, 2011. Interested participants can register to attend, find the list of presenting companies and view live webcasts at http://www.theoilandservicesconference.com.
As many issues are debated about how to develop and deliver new forms of energy that are cash efficient and clean, one issue remains evergreen – the world's constant and insatiable consumption of crude oil and natural gas. With the U.S. economy producing 1.8% more output during 3Q'10 than the pre-recession period of 3Q'08, and with forecasts of growth for world economies in 2011, it is apparent that all global regions – offshore and onshore – will be explored and developed to deliver the necessary energy to meet industrial expansion.
Attendees at this year's Conference will hear a select group of companies present their 2011 development and exploration plans. Growth will be the theme for this year's conference. Attendees will also hear from a group of energy analysts who will deliver presentations on their future outlook for trends and the direction for commodity prices.
Founded in 2003 by EnerCom, this annual Conference brings together executives and investment professionals in the global oil and gas industry. Each company presenter will deliver a 25-minute presentation, followed by company break-out sessions. Institutional investors and research analysts can schedule one-on-one meetings with presenting companies by contacting EnerCom prior to the Conference.
Testing times while we await JV. We need a big player to get the oil out of there and as HAL has indicated the over demand for horsepower puts service company s in the box seat. SSN has to get the deal on 'good terms'. Both players hold a couple of aces but one has a bigger bank. Poker at its best. I hope TB has his 'tells' in check. If we keep control of the agenda and we don't give too much away things should be good. Word is "Wyoming observers are cautiously optimistic regarding the CHK wells."
HAL it is confirmed:::::
Sit back and enjoy. 3D, oil, HAL, CHK, Orri, Money in the bank = Hold on.
HAL it is confirmed
:::::Sit back and enjoy. 3D, oil, HAL, CHK, Orri, Money in the bank = Hold on.
Thanks Yarrabah,
Here is the link to the US after market announcement that Yarrabah is refering to:
http://finance.yahoo.com/news/Samson-Oil-Gas-Announces-bw-2699960138.html?x=0
Good step in the right direction and hopefully the 3D will allow us to hit the first well and get the oil flowing. The good points - 3% royalty of farm in area, some 3D costs repaid, big player involved and only give up 25% for free carry for both wells, as outlined in the strategic plan. Also appears SSN has control over the project using HAL resources. It appears after the deal SSN still retain 14,883 of net arces plus 3% royalty on the farm in area as opposed to 16,530 net arces. Gotta love those cost free earning royalty's for some extra cash.
Also some positive comments on the 3D currently being finanlised.
The only negative I can see is that HAL can elect not to drill the second well. So still some risk (as with all O&G exploration and drilling) but on our way to getting the ball rolling.
If that first well is a winner and the CHK royalty starts to flow then game on. Now to get the Bakken done prior to Niobrara would be great so our focus can be on the big game changer at the end of quarter 1. Still carries risk but we are going to find out soon if those high price targets set by some broking firms are achievable. Good luck to all, will stick around to see it play out as did all my buying throughout last year when I thought this was an undervalued stock. See what happens.
Here is the link to the US after market announcement that Yarrabah is refering to:
http://finance.yahoo.com/news/Samson-Oil-Gas-Announces-bw-2699960138.html?x=0
Good step in the right direction and hopefully the 3D will allow us to hit the first well and get the oil flowing. The good points - 3% royalty of farm in area, some 3D costs repaid, big player involved and only give up 25% for free carry for both wells, as outlined in the strategic plan. Also appears SSN has control over the project using HAL resources. It appears after the deal SSN still retain 14,883 of net arces plus 3% royalty on the farm in area as opposed to 16,530 net arces. Gotta love those cost free earning royalty's for some extra cash.
Also some positive comments on the 3D currently being finanlised.
The only negative I can see is that HAL can elect not to drill the second well. So still some risk (as with all O&G exploration and drilling) but on our way to getting the ball rolling.
If that first well is a winner and the CHK royalty starts to flow then game on. Now to get the Bakken done prior to Niobrara would be great so our focus can be on the big game changer at the end of quarter 1. Still carries risk but we are going to find out soon if those high price targets set by some broking firms are achievable. Good luck to all, will stick around to see it play out as did all my buying throughout last year when I thought this was an undervalued stock. See what happens.
Should also point out it appears some of the land is the one held 50/50 with mountain energy (I think that is the correct company that they hold some of the Niobrara land with SSN when it was first purchased all those years ago) and some held 100% by Samson - maybe someone would like to clear this up for me as not 100% sure.
Samson Oil & Gas Limited
Joint Venture for Hawksprings
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that it has entered into a three party participation agreement with Halliburton Energy Services, Inc. and its existing private company partner for the evaluation and development of the Niobrara Formation and other conventional targets in the northern Denver-Julesburg Basin for part of Samson?s Hawk Springs Project in Goshen County, Wyoming.
http://www.samsonoilandgas.com/irm/Company/ShowPage.aspx?CPID=1222&EID=27613634
Joint Venture for Hawksprings
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that it has entered into a three party participation agreement with Halliburton Energy Services, Inc. and its existing private company partner for the evaluation and development of the Niobrara Formation and other conventional targets in the northern Denver-Julesburg Basin for part of Samson?s Hawk Springs Project in Goshen County, Wyoming.
http://www.samsonoilandgas.com/irm/Company/ShowPage.aspx?CPID=1222&EID=27613634
- Joined
- 3 May 2009
- Posts
- 515
- Reactions
- 2
Great news. A perfect result for SSN. No worries about delays in fraccing or drilling in Goshen County.
Now we are parternered with the biggest onshore driller in the US and the biggest oilfield services providor! Kudos to Terry Barr for making this happen.
I'm loving this quarter just sitting back happily watching the money roll in.
I think we will see a lot of positive momentum leading into the drilling campaign.
It's going to be a great year for SSN holders.
Now we are parternered with the biggest onshore driller in the US and the biggest oilfield services providor! Kudos to Terry Barr for making this happen.
I'm loving this quarter just sitting back happily watching the money roll in.
I think we will see a lot of positive momentum leading into the drilling campaign.
It's going to be a great year for SSN holders.
- Joined
- 3 May 2009
- Posts
- 515
- Reactions
- 2
Close but no cigar!
Mind you the prize pales in comparison to the profits this month
:bananasmi:bananasmi:bananasmi:bananasmi:
Indeed the quarterly makes for great reading. Just a shame we couldn't get those two wells up in the Bakken fracced.
Eight million worth of drilling has been sitting idle since NOVEMBER!
Gah.
Anyways Haliburton are chipping in on the 3D costs and we're free carried in the first Niobrara drills and you'd have to be a raging pessimist no to see some oil coming there.
No mention of royalities from CHK....yet.
So this coming quarter essentially we have no expenditures ( or do we pay off our loan to Macquarie before then?) just two wells to bring into production in the Bakken and mayyyyybe some royalties from CHK and a cheque from HAL for the 3d seismic.
Next quarter should be a better result again. SSN is on the up!
Interesting to note the mention of perpendicular wells for the Niobrara rather than laterals. Must be a lot of natural fracturing which will lower well costs almost by half I would think.
Feeling really positive about this play as it unfolds. I've been all in for a while but sold 25% at 11.5 on it's last spike just to take some off the table and diversify into ..ahem another speccie aka PRR.
I don't even consider SSN that speculative anymore look at our business partners, the biggest and best in the business in the US.
Still cheap at these prices IMHO
Slipperz, I was hoping for some better production numbers but all in all not a bad quarterly. Things are looking good for samson in the next quarter and beyond, I totally agree. I too sold a parcel (at 11c) and took a nice little profit and I was fortunate to get back in at 10c early last week. Lets see if we can hold this 11c level and move higher in the next month or so as the fraccing begins and the next two wells start flowing.
- Joined
- 3 May 2009
- Posts
- 515
- Reactions
- 2
And here come the Chinese into the play! http://www.greeleytribune.com/article/20110130/NEWS/701309972/1002&parentprofile=1001
Less cost and more rigs for CHK = SSN up 15% on the AMEX atm! Should be another good days trading today
Less cost and more rigs for CHK = SSN up 15% on the AMEX atm! Should be another good days trading today
