SSN - Samson Oil & Gas

[yarrabah]

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

I did see that Nortorious. New SOA Starts a lot later than I expected. But yes very interesting what lies beneath the Salt. Got a little word back from the master saying something like
We are still working on the drilling plan for the SOA twin but looks like it's all about using the correct drilling mud (oil based) and plenty of density.

Discovered the Kleinhoz field (produced over 10M BO) was 1st picked up by a seismic anomaly in the Permian?Penn like SOA. 60 miles SE of Hawk Springs in Nebraska. Can lightening strike twice?>>

All the best for 2012.

 

[Nortorious]

Thanks for the info Yarrabah.

Hopefully they have unlocked the code and can get through to the treasures when it comes time to try again.

Big year ahead and hopefully plenty (of positive developments) to discuss here.

All the best
Nortorious

 

[yarrabah]

Big year ahead and hopefully plenty (of positive developments) to discuss here.

Well something is going to break either way. Up in the US overnight with the largest volume since March last year. Should go to .11 here on Monday

Aust 2 frac and results should be out in the next week and Gretel hopefully hot on the heels. All down to Schlumberger's fracc. Just a little devil in the detail....

 

[yarrabah]

Well with 1/2 hr to go on the Amex SSN is up appox 30 cents or 1.5 cents in Australia.
Volume high for 2nd day running a good sign.
So should trade around 12-13cents on ASX Lets hope the news, due any day supports it.

 

[Nortorious]

Well with 1/2 hr to go on the Amex SSN is up appox 30 cents or 1.5 cents in Australia.
Volume high for 2nd day running a good sign.
So should trade around 12-13cents on ASX Lets hope the news, due any day supports it.

Good volume today and a push to try and break the 14c resistence has been underway for awhile now (during the trading today). Will be interested to see if we break it and hold towards the end of the day.

Aussies providing the lead for AMEX or AMEX having to play catch up due to the Monday public holiday?

Haven't listened to the presentation this morning but will be logging on tonight for sure.

Good times ahead

 

[yarrabah]

This comes via HC. A shareholder had a meeting with TB at Macquarie Equites. The poster has been a long term SSN contributor on HC but please do your own research.


I'm back from the meeting with Terry and his exploration guru, David Ninke. Remember this meeting was a roadshow for Macquarie equities to gain exposure to the SSN story, and not about me, so there are only so many questions I could ask, and with 10 people sitting around the table, I wasn't going to embarrass Terry with any questions. He ran through the last Enercom preso, and i asked some questions along the way and gleamed the following:

- SOA #2 spuds 1st April. David is extremely excited about this because of the 3D image .... in fact Terry swung over to him and asked if he didn't mind repeating what David had said to Terry about this location and the SOA site .... David said they can see 29 other SOA targets, so if the re-drill of SOA (imminent)comes in, watch out !

- TB still saying the jury is still out on Defender @ 280 ish BOPD, but he is hoping to get to 400 within the next 3-4 weeks as the well stabilises.

- another operational advisory due next week, but he wasn't sure if it will be Monday or not.

- TB is adamant that it is realistic to claim 4 in fill drills in ND stockyard and it will happen in 2012 ... drilling and fraccing units much easier to get hold of vs last 12 months.

- TB confirmed OMRs find of Magic US 38 .... our more westerly location for defender no 2.

- TB is confident based on recent discussions with HAL that they will committ to Magic US 38, but we all have to wait for 31ST March for final decision.

- TB said he has taken some flack from various quarters abou the 70BOPD number in the last AUSII update, but he included because of disclosure requirements .... I didn't push that further.

- TB stressed the 70BOPD meant nothing ... and that sections of the market misinterpreted that part of the operational advisory

- TB said the well is heavily 'blocked with undrilled plugs and equipment as reported, but once cleared, he thinks AUSII could release IPs of around 800BOPD but would be more than satisfied with say 500BOPD.

- TB said they have learnt a lot about the frac of AUSII, and that in hindsight sight, would have used a bit more proppant and sand, but all that learning is going into the imminent Gretel frac .... all good.

- TB is committed to hiring the skid-able rigs once AUSII and Gretel are declared commercial... I pushed on anticipated timeline here and got something like April / May to declare success or otherwise.

- TB confirmed they would pay for skids and one drill per month on Roosevelt by CR of undisclosed type/structure/nature, rather than chew up current cash of $US41M. CR maybe later this year, but expected to be higher levels than here ofcourse. It would also help cover costs of more conventional type SOA drills that cost about $US3M each vs the AUSII type frac that come in at present at about $US6.5M

- TB confirmed that the $50M facility others have posted about was set up 4 years ago, and I'll leave the explanation to what some others have posted - went over my head a bit, but its i think about being able to raise funds some time into the future according to various listing rules and regulations, so Sharks, I think yes TB will raise the 50M to help pay for skids and 1 drill per month and other project drilling costs later in the year.

- I put words in his mouth with the rough timeline for the SP to reach his target of $US24, and he agreed some time in about 18-24 months from now, and added "when I hope the chinese come in with a take over offer "

- no one has come and knocked on the door yet in respect to TO, but the working relationships with others around us in the Roosevelt such as Marathon and Continental means they will get a chance to take a closer look at SSN, and you never know what might come from that ;-)

All in all, i came away with the feeling that TB is confident the SP is due for a re-rating in the near future (next couple of months ?)with results due on several fronts including IPs on AUSII, Gretel, Abercrombie, and SOA #2.

Hope that is useful feedback ....I'm buying more stock today

 

[chakvetadze]

"I put words in his mouth with the rough timeline for the SP to reach his target of $US24, and he agreed some time in about 18-24 months from now, and added "when I hope the chinese come in with a take over offer "

Yeah sure.

 

[Chasero]

Large sell off today... SSN back to sub-10c...

Any new announcements expecting in 2012? I know we are expecting drills to be done this yr... but is this all hear say?

 

[Nortorious]

Large sell off today... SSN back to sub-10c...

Any new announcements expecting in 2012? I know we are expecting drills to be done this yr... but is this all hear say?

TB is doing a presentation in NYC next week. I would suggest you tune into that to find out the answer to your question. Details in the company announcement that came out today.

All the best
Nortorious

 

[Chasero]

TB is doing a presentation in NYC next week. I would suggest you tune into that to find out the answer to your question. Details in the company announcement that came out today.

All the best
Nortorious

Not much oil in today's announcement?

SSN taking a battering.

I think long term holders are disappointed and are fleeing..

 

[kingink]

Hey,

Wasn't sure how to subscribe to the SSN thread without posting so... I posted??? lol

Jumped in for a few grand on SSN... seems to have hit a stable low haha...

I'm new to the market so feel free to throw in your ideas

Take care, hope she rises!!

 

[haddadf]

SOA II update out today. This came out with a speeding ticket to prove there were no leaks.

Flow results soon for this well.

All eyes on AMEX to see how it responds to both announcements and SP action today. It's still a mystery as to why sp rose on Tuesday. May be a p&d.

 

[yarrabah]

sad day imo. TB clamps down on SSN HC. No idea of how to handle social media.


Knocked back on 200M performance options by shareholders via HC earlier in the year.

AGM fast approaching in 8 weeks or so.

Are the two related?

Very interesting to see what is proposed at this years AGM. Will it be to the benefit of shareholders?

 

[JJBM11011]

sad day imo. TB clamps down on SSN HC. No idea of how to handle social media.


Knocked back on 200M performance options by shareholders via HC earlier in the year.

AGM fast approaching in 8 weeks or so.

Are the two related?

Very interesting to see what is proposed at this years AGM. Will it be to the benefit of shareholders?

Yes looking forward to AGM ....yes the HC ban was very extreme IMHO using Shareholder funds to stop open
discussion because of a few bad posts that I understand was moderated within hours and the members banned..
makes you think there's more behind the closing of discussion than a couple silly posts ...the vote against performance opts leaving a bad taste for mgmt.??...
I see in the annual report posted on the amex SSM mgmt also will be paid a total of 600k in bonuses
yet in the last 12months the Shareholders have lost a huge amount in value I know myself I'm close to 100k worse off...and production wise SSN hasn't increased BOEPD over the last 2yrs yet reaped 10mill+ in admin expenses....
I really hope the SP will kick higher so to make back some of my losses ...but I think it's more likely to be a hard road north with the cash balance running out very fast
for believing in team SSN

 

[thesnowyforest]

3 cents is soo close

hehahhahhahrhahrhahrhsaha

Every cent that TB looses makes me that much happier.

Yes looking forward to AGM ....yes the HC ban was very extreme IMHO using Shareholder funds to stop open
discussion because of a few bad posts that I understand was moderated within hours and the members banned..
makes you think there's more behind the closing of discussion than a couple silly posts ...the vote against performance opts leaving a bad taste for mgmt.??...
I see in the annual report posted on the amex SSM mgmt also will be paid a total of 600k in bonuses
yet in the last 12months the Shareholders have lost a huge amount in value I know myself I'm close to 100k worse off...and production wise SSN hasn't increased BOEPD over the last 2yrs yet reaped 10mill+ in admin expenses....
I really hope the SP will kick higher so to make back some of my losses ...but I think it's more likely to be a hard road north with the cash balance running out very fast
for believing in team SSN

 

[dsticks]

Anyone know why the 12% drop overnight?

No announcement I can see!

 

[thesnowyforest]

NO IDEA.


All i know is TB's super is getting crushed .. and i like that.

Every dog gets its day and TB's lies are now hitting him where it hurts.

heha

Anyone know why the 12% drop overnight?

No announcement I can see!

 

[dsticks]

NO IDEA.


All i know is TB's super is getting crushed .. and i like that.

Every dog gets its day and TB's lies are now hitting him where it hurts.

heha

Hi Snowy, Interesting to see the improvement today - again on no announcement. Something must be brewing methinks.

I am backing a rise - and get back some of what I have lost on this stock so I'm hoping TB's super rises as well - then my 210T shares might provide some profit.

 

[Atomic]

any thoughts on this one lately?

 

[skivvy]

Still waiting for nth stockyard infill drilling to get under way, the 26k daily drill lease costs are eating into the last of the chk funds, need some spud info ASAP and hopefully some good ip rates. The question of funding for the infill program is still yet to be definitively answered - cap raise or debt financing???