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SSN - Samson Oil & Gas

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Remarkable how few are willing to speculate on what this company could be worth after a six month drilling program about to get underway in a matter of weeks!

Good presentation released today as well, I like what I see and will continue to hold firm until the drill bits bring us the news

http://www.samsonoilandgas.com.au/IRM/Company/ShowPage.aspx/PDFs/1283
 

It is hard to attract new investors. After such a run, it is to be expected. On the other hand SSN and TB have made some good choices in the last 18 months. Geting more Montana Bakken certainly changes the game and they seem confident in their presentation/attack. And as you say its getting down to the drill bit talking.
 
Now that we are into the new financial year, im looking forward to seeing the balance sheets.
In the last 12 months SSN has risen with leaps and bounds, paid off all debt and has a healthy bank balance ,has an extensive drilling program and has alot of new prospective land to punch holes in.
What are peoples thoughts on the market response to this coming annual report will be?
I cant imagine it being anything short of a major positive in market sentiment.
TB is a legend
here is a summary of last years financials.

NOTE 33. PARENT ENTITY FINANCIAL INFORMATION
(a) Summary financial information
The individual financial statements for the parent entity show the following aggregate amounts:

2010 2009
Balance Sheet
Current assets 6,195,006 167,845
Total assets 22,375,612 4,741,913
Current liabilities 1,360,707 128,797
Total liabilities 1,360,707 128,797
Net assets 21,014,905 4,613,116
Shareholders’ equity
Issued capital 75,714,263 55,985,941
Reserves
Share based payments reserve 2,419,430 2,399,702
Foreign currency translation reserve 2,596 1,415,530
Retained earnings (57,121,385) (55,188,057)
Net shareholders’ equity 21,014,905 4,613,116
Loss for the year (3,168,233) (26,921,623)
Total comprehensive income 1,755,299 23,160,133
 
Hi Slipperz, I have a google account but its still not working. oh well no bother.
It is a kml file which isnt supported
Yeah I watched our US counterpart for the last 15 minutes before close, during the session it went over the $3.00 but came back a tad.
 
Good release outlining the drilling program confirmed to start the week. http://www.businesswire.com/news/home/20110710005077/en/Samson-Oil-Ga

It does look like we snapped up those acreages in Roosevelt County for a song!!!

Ann re final payment of debt facility to macquarie stated we had 61.2 mm in cash on hand.

Drilling campaign until Q12012 = 23 210 000
Estimated cash remaining ( excluding production revenues) = 32 mm

61.2- 23 210- 32 = 5.990 000 expected operating expenses for the next two quarters.

So where is the money coming from for the Roosevelt acreages? Production revenue?

 
So where is the money coming from for the Roosevelt acreages? Production revenue?

[/QUOTE]

My guess is TB got them acreages real low, with a favorable % down the track to the other participants. Good Ann.
 
Yes it looks like Terry has done a pretty good deal here. More detail is likely in the Quarterly next week which I am looking forward to reading.

The permitting bloodhounds have picked up a bunch of permits for Devon to drill in Goshen County issued yesterday by the WOGCC. That makes for some pretty intense drilling activity in one area.

Defender spudd now overdue....soon we will have our answer!
 
I think TB is giving a Presentation in Perth Sept 7th? Anyone going?

Solid six months ahead. That bounce yesterday and today showed which companys people wanted to buy, SSN being one.
 
Is anyone still holding SSN after the bucket was turned upsidedown?
Well im still holding and will continue to hold as long as TB is in controll.
I have a lot of confidence in TB and SSN (I think a huge future for this company)
Im looking foreward to see what he (or his delagate) has to say today at the EnerCom Conference in Denver.
SSN in the US SSN.AMX saw nice gains overnight 8.02% up (.19 cents) to finish at $2.56.
Im guesssing that this rise has 2 factors the first being the market gaining some sort of sanity after the recent rollercoaster ride and secondly in anticipation of a good (great) presentation by TB today at 6:35 AM WA time.
Good luck to all SSN holders
Cheers
Dougs Antiques
 

Listened to the presentation online this morning. Nice work TB!

I've still got em'! Trying to add more to my holdings too (just need my order filled).

Was great to hear TB confidently talking about future share price being AMEX $20. Roughly equivalent to $1 on ASX.

Looking forward to the next few months of activities. Hoping we hit some serious black gold and watch this thing run!
 
Dougs Antiques said:
Is anyone still holding SSN after the bucket was turned upsidedown?
Dougs Antiques
Click to expand...
Still got mine too;
I may have bought a little early, but if there's substance behind the talk, we'll be handsomely rewarded. And it seems there is.
 
pixel said:
Still got mine too;
I may have bought a little early, but if there's substance behind the talk, we'll be handsomely rewarded. And it seems there is.
Click to expand...

Yeh I bought in at $0.165 and then been averaging down over the last few months. Bought another parcel at $0.125 and now hoping to get some more for $0.115. My average purchase price will be $0.13 (approx) - if I get my final parcel @ 11.5c.

I'm still fairly new to the stock market caper, so I'm hoping this will be a launch pad to investing for my future. If not, will be a good learning experience at worst and an enjoyable journey (more so if I can make some $$$).
 
pixel said:
Still got mine too;
I may have bought a little early, but if there's substance behind the talk, we'll be handsomely rewarded. And it seems there is.
Click to expand...
apologies: I misread the title and replied to the wrong "SS". The one I hold is SSC, not SSN.
However, there's some positive coming out of it: SSN is showing a buy signal on my "Trinity" chart template. I'll try and get my hands on a few.

 
Some information posted on another forum, pretty exciting to see SSN continuing to surprise (in a good way). Very excited to be a part of this, just hoping we hit some of that black stuff (starting with Defender)... Looking forward to the next six or so months!


UW Trustees Approve SAREC Mineral Lease Award


August 25, 2011 ? The University of Wyoming Board of Trustees today (Thursday) approved the conditional award of the Oil and Gas Lease for UW's mineral interests at, and near, the James C. Hageman Sustainable Agriculture Research and Extension Center (SAREC) in Goshen County.

Samson Oil and Gas USA, Inc., the lone respondent to a May 2011 request for proposals by UW, was chosen to proceed with exploration and development of the oil and gas deposits at SAREC. The university will issue the lease after review and acceptance of Samson's title information and receipt and deposit of Samson's bonus bid payment.

Already, Samson holds leases on about 18,000 net mineral acres surrounding the university's rights and "is in good position to develop the leases," says Douglas H. Vinzant, UW's vice president for administration.

UW owns 3,297 surface acres at SAREC, including mineral rights under 3,275 acres in varying undivided percentage interests with other parties.

http://www.uwyo.edu/uw/news/2011/08/uw-trustees-approve-sarec-mineral-lease-award.html

This UW land is within a mile or two of Defender and SoA
 

Announcement out today confirming the acquisition of more land. Go SSN!
 
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