This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

SSN - Samson Oil & Gas

Jump to new
Nortorious said:
The link doesn't work my friend...?!
Click to expand...

Its from another forum I did try it... Sorry. Details below.

=====================

For the info of everyone in here, I have taken my own advice and sent an URGENT EMAIL to TB, advising him he needs to read the AFR and to get an official announcement out to the market.

It is possible that S & P have been so slack on this, that they have NOT actually informed SSN!!!
Apparently SP notified via an announcement last Friday.

but.........

"It is understood there were also some concerns from companies that WERE UNAWARE that their stock had been affected by the index change" (Anthony Macdonald, Australian Financial Review, Wednesday 7th September 2011, p.24)

I may as well list the additions to the S&P/ASX300 while I am on here: (From today's AFR)
Qube logistics Holdings
Alkane Resources
M2 Telecommunications
Elemental Minerals
Starpharma Holdings
Focus Minerals
Greenland Minerals and Energy
Thorn Group
Prima Biomed
Allied Gold Mining
South Boulder Mines
SAMSON OIL & GAS
Tiger Resources
Hunnu Coal
Decmil Group
Credit Corp Group

I know from reading so many postings on SSN, that some of you are in some of the other stocks that are additions (for example Prima Bio Med).
So, might be an idea to alert those forums too - given this is very positive news for the share prices (once the market knows about it) and seeing that S&P seems to have been slack in advising some companies of their upgrade. Yep, hard to believe but seems to be a fact, according to the AFR!!
 

Excellent! Thank you

Could be a few good announcements on the way for our (becoming not so) little Samson.
 
2011 Financial report released today.

Highlights of the results for the year ended 30 June 2011 include:
- Net profit, under IFRS, after income tax expense of $47.3 million compared to a net profit after income tax benefit of $0.8 million in the prior year.
- Net profit, under US GAAP, after income tax expense of $54.1 million compared to a net loss after income tax benefit of $24.1 million in the prior year.
- A 225% increase in gross profit, under IFRS, (excluding discontinued operations) from $0.8 million for the year ended 30 June 2010 to $2.6 million for the year ended 30 June 2011.
- A 200% increase in gross profit, under US GAAP, (excluding discontinued operations) from $0.8 million for the year ended 30 June 2010 to $2.4 million for the year ended 30 June 2011
- Increase in net assets, under IFRS, from $25.1 million as at 30 June 2010 to $76.5 million as at 30 June 2011.
- Increase in net assets, under US GAAP, from $18.9 million as at 30 June 2010 to $77.9 million as at 30 June 2011.
- Increase in cash and cash equivalents, under both IFRS and US GAAP, from $5.8 million as at 30 June 2010 to $58.4 million as at 30 June 2011.
- Decrease in borrowings, under both IFRS and US GAAP, from $11.3 million as at 30 June 2010 to nil as at 30 June 2011
- A 109% increase in oil production from 30,719 barrels in the prior year to 64,405 barrels for the current year. Gas production decreased 36% from 668,000 mcf of gas in the prior year to 423,000 mcf in the current year, following the sale of the Company's interest in the Jonah and Lookout Wash properties.

No movement of the SP today but hopefully come Monday there is some real interest (Monday is first day in the ASX300 for SSN). A good financial report may encourage institutional investors to invest in Samson.

Good 6 months ahead imo
 
For those interested, announcement out today.

Samson Oil & Gas Limited (ASX: SSN; NYSE AMEX: SSN) advises that the horizontal 6 and 1/8 inch lateral for its Defender US 33 #2-29 H well has been drilled to a measured depth of 11,089 feet. This depth is the total depth for the well. The horizontal lateral was drilled within the Niobrara B zone for the entire horizontal distance drilled, recording resistivity measurements of 100+ ohms for the majority of the well. Open-hole logging and conventional core analysis from the vertical pilot hole indicate that the Niobrara A & B zones are both very brittle carbonate sections that appear to be oil saturated.

Great news on a terrible day for the ASX.

There is oil down there!!!! Now, to get it out!
 

What do you mean Listened to.
Is there a webcast on their site?
 
What's been happening? Been away and it seems the Samson has been deserted!

Defender about to release its secret and nobody here interested?

Sometime next week....

GLTA
 
yarrabah said:
What's been happening? Been away and it seems the Samson has been deserted!

Defender about to release its secret and nobody here interested?

Sometime next week....

GLTA
Click to expand...

Hi Yarrabah,

Certainly has been quiet here for SSN.

Lots of news from the company though so I'm sure you are up to speed with it all.

Bit of a shame that SOA was so problematic but it appears that they still found something in the Muddy J Sandstone. When bigger machines are available, they'll go back for the rest (hopefully sitting under the protection of the salt).

Defender news due out very soon, possibly a surprise announcement today if not Monday is looking likely.

Exciting times for SSN and hopefully it will go for a nice run up heading in to 2012.

All the best
Nortorious
 
Thanks Nortorious. Thought you might be still here. Happy with Ann. today. Monday or Tuesday it seems. Would have liked 'oil shows' etc but have noticed TB has changed his style in the last few months. More like a CEO of large cap, imo. (At least I hope im right)

Yeah SOA was a disappointment. Gone over budget by 1 or 2M by my guess but he's not giving up so that may say something. Off to AGM either elated or frustrated, much like my relationships.

GLTA

PS From my research on Fort Peck it looks good. 40K with a possible another 50 but it may be highly competitive.
 
well its xmas

Keep an Eye on Samson Oil and Gas Limited (NYSE: SSN)
Posted on December 19th, 2011 by admin
The Bakken geological formation in the Montana/North Dakota region is the site of a major oil production boom here in the US. The discovery of oil occurred in the 1950′s but technology did not allow for practical extraction until a few years ago. Recent estimates put the production potential at 18 billion barrels at this time.

Australian company Samson Oil and Gas (SSN) has a stake in developing their Bakken acquisition and is looking at increasing production in 2012. Samson’s stock was trading in the neighborhood of $0.20 only two years ago. It currently has a 52 week high of $4.75 with a 52 week low of $1.10.

Sampson’s CEO, Terry Barr has made significant strides in bringing his Australian Company into a strong competitive position here in the US. Several analysts have put this stock in their best penny stock picks for 2012 for number of significant reasons. Sampson has had a very good year and experienced appreciation in a very short period of time due to both land acquisition as well as growing production in the field.

The company purchased 16,391 acres in the D-J Basin and seems ready to develop a three tranche strategy going into 2012. They are still in the early stages of production in this area and expectations are still in line with projected IP rates. Several factors make up the rapid appreciation of this stock in the eyes of analysts; strategic vision seems to be one of the most prominent assets of the company.

Other companies are completing wells in the D-J Basin due to its lesser cost for both acreage and production compared to Bakken. So far the average IP rate from 31 new wells is roughly 678 barrels of crude per day. There is a strong likelihood that the rates will continue to increase as these companies become more experienced at extraction from their new wells.

Sampson is currently testing three additional pay zones. They are working on one horizontal and two vertical zones with wells estimating to cost around $3.5 million each. The company is currently debt free with a current market capitalization of US$ 179.7 million. Their sale of land to Chesapeake (CHK) turned out to be a very strategic advantage because they not only retained a 3.8% royalty from the leases but also have the rights to first refusal on sales of Chesapeake’s wells. This gives them a distinctly strong cash advantage to buy into future wells without compromising current production levels.

The North Stockyard Project is currently offering up fairly good IP rates. The current averages for the five wells total 9,016 barrels of crude per day. The company has teamed up with Halliburton (HAL) to improve production flow on all Sampson Oil and Gas Limited wells. The arrangement seemed to have paid off already with improvements in production making a difference on the balance sheet.

Once the first and second tranche are finalized the company is planning on adding 50,000 additional acres in a third tranche in the Fort Peck area. Their planned acquisition of 20,000 net acres is consistent with several companies who have signaled that there are significant profits to be made from the middle of the Bakken pay zone in the coming years.


http://www.buypennystocks.com/penny-stocks-blog/keep-an-eye-on-samson-oil-and-gas-limited-nyse-ssn
 
Not sure about that. With 1.73 bill worth of dilution , there must be better options in this market.
 
Assasin said:
Not sure about that. With 1.73 bill worth of dilution , there must be better options in this market.
Click to expand...

Well actually if you take into account their options (which are in the money) its closer to 2B. Better options....? Well we will see. Should open around .097/98 tomorrow. Thats up from .083 or 16% or 18% since your flippant review. Not bad in 5 trading days.
 

Correction to my last post. Due to overnight action on the AMEX, SSN should open and close around 10.5 or 11. So a gain of 26.5% or 32.5%. In this market, I will take that.
 
Assasin said:
Not sure about that. With 1.73 bill worth of dilution , there must be better options in this market.
Click to expand...

Help me understand why people allow the number of shares out there effect their valuation of a stock. Let's say they do a 1:10 restructure, would that make you feel better? If so, why? It really is about market cap not shares in circulation. Either the stock has the capacity to increase market cap by x% and hence individual stock by the same amount or it doesn't, so then move on.

If you are going to ignore the Aussie achiever in the US O&G game on the basis of the number of shares out there, suggest you take a look at their projects, partners, management and track record, then think about it all again.
 
This snippet from another blog today, courtesy of Sharks provides insight into the communication style of SSN CEO as well as leads for more research to understand why SSN is considered a strong play for 2012 by a number of analysts here and in the US...

"I can share is that I wrote off to TB yesterday because I had a couple of questions – and he replied quite promptly – so wanted to share a summary of the questions and answers. I cannot cut and paste the emails, but I have written permission from TB to summarise the exchange in my own words, so this is my opinion of the exchange. I also ran this past HC admin to obtain guidance on posting this so that I would minimise the chance that I am infringing any rules in doing so.

My two questions, and the answers, are summarised as follows:

Q1: I asked whether any of the data obtained prior to the decision to complete the Defender will by commencing the full frac of Defender, i.e. data obtained both before drilling started and during drilling, up till the DFIT stage 1 frac was completed, did they expect the fluid recovery to be at a low pressure as they subsequently found, and could TB provide an explanation for the low pressure.

A1: TB’s answer was that they understood that the Niobrara horizon was normally pressured, as opposed to the Bakken which is over-pressured. The reason for the lower pressure in the Niobrara, compared to the Bakken, is that the Bakken has a higher TOC (Total Organic Content), and also the Bakken is an older structure. The organic content expands when it converts into oil and gas, and so in the Bakken with a higher TOC and more time to mature, there is more of a pressure build-up than there is in the Niobrara. They understood this, and while a lot was pre-known about the Niobrara, the true test is to drill and frac to get the in-situ data that can only be obtained that way – which was a key factor in bringing HAL on board for this project. TB also added that he believes the valves of the pump they installed to assist with the fluid recovery were probably damaged during the installation, which explains why the lift has not been as efficient as expected, and he believes with the new pump they will get the much-awaited answers shortly.

Q2: I was concerned that the extended duration of drilling at Australia 2 may jeopardise our lease at Fort Peck, because I recall that a lease condition was that they needed to drill two wells by the end of 2011. So I asked whether there was any risk there, and whether FPEC were satisfied with progress there.

A2: TB answered that the lease condition was determined by December 2011 or 90 days after issuance of the drilling permit, whichever was later. He stated that they are in compliance with the timetable, and he believes that the relationship with FPEC is excellent, that they are impressed by SSN’s community program, and apparently are so impressed with what Samson is doing they are asking why the other oilers aren’t doing what Samson is doing. TB therefore believes there is no commercial risk out of the relationship with FPEC. TB also added on the technical front that he believes the market hasn’t yet fully digested the importance of the results from Australia 2 so far. He believes the results have de-risked the Fort Peck Bakken play a lot. They weren’t sure what they were going to see prior to drilling, but the published results have given them a big increase in confidence about making this play work.

The explanation about the fluid pressure at Defender was a confidence booster to me, because it seems they expected the low pressure even with all the data right up to when they started the full frac. A defective pump would also explain why the fluid recovery total hadn’t increased a lot since the pump was installed. Still have to wait unfortunately, but it seems they still do not know the answer at Defender. The Fort Peck information both commercially and technically sounds very positive. Hope the above is of interest to a few...

Cheers, Sharks."
 
With todays release of their SSN's latest presentation for the IPAA OGIS FLORIDA tomorrow, it could just be the turn of the tide.

The best in the business Schlumberger is set to frac Australia II February 14th & committed to frac Gretel II at a date to be set. With a positive core results from Aus II and 51% ownership after buy back and royalties taken into consideration. SSN can finally lift production towards 1000 BOPD.

Defender in Goshen, written off by many may not set the world on fire, but with 130BOPD @ 25% oil cut there is a hope it could lift to IP above 300. That wouldn't be a bad start in a new field and adds support to TB's previous words.

Bit over opportunistic with at NAV $1.13 IMO but he aint the first CEO to puff up his chest. One third of that would suit me.

http://www.samsonoilandgas.com/irm/...orporatePresentationIPAAOGISConferenceFlorida
 
Hi Yarrabah,

Hope 2012 is a great year for you.

The presentation today is excellent and I'll probably set my alarm and listen to the audio tonight/tomorrow morning.

The potential that has been estimated is exciting and agree with you, might be the turning of the tide.

Interesting next month or so with details on Defender and Australia II as the main focus.

Did you see they have scheduled to re-drill SOA at the end of 2012? What lies beneath the salt?

The new partner seems to be a serious player (and winner).

Exciting times once again.
 
You must log in or register to reply here.

Similar threads

February 2025
2
Replies
35
Views
2K
ducati916
Albo's Coal and Gas Price Cap and Financial Aid proposal
2
Replies
38
Views
5K
Smurf1976
T
KOG - Kilgore Oil and Gas
Replies
14
Views
9K
snorer
S
Y
RAT - Rubicon America Trust
Replies
12
Views
7K
Bill M
Y
UNX - Uranex Limited
2 3
Replies
59
Views
17K
Tyler Durden
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...