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SSN - Samson Oil & Gas

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Re: SSN - Samson Exploration

SSN in trading halt to make an announcement related to a proposed Capital raising.

It wasn't too long ago (25/04/2010) that they announced a possible percentage sale in the Niobrara Formation Project. The "sale could provide additional working capital that would then be available to drill several new wells, to pay down debt or for other purposes."
 
Re: SSN - Samson Exploration

Can't believe that no one has gotten excited about the announcement made by SSN.

The deal will secure the companies future and will allow it to drill several wells and maybe even purchase further exploration or production oil and gas miners.

I have accumilated as opportunities presented it self, as well as subscribed for the SPP.

I will also be purchasing further shares as SPP sellers are offloading.

The medium to long term of this company look very attractive. Short term also looks good.

Enjoy.
 
Re: SSN - Samson Exploration

Well I usually don't just jump on a microcap without a whole lot of research but this deal sounded too good.

Try as I my to stay on the sidelines the temptation to make a profit always gets the better of me.

Loaded up this morning at .039 and very happy with todays trading.

70 million is quite a warchest for a little oiler like SSN plus royalties of 4.8% from the acreages sold.

We should see some strong rises leading into the closure of the sale July 26th.
:D
 
Re: SSN - Samson Exploration

gary stone on sky made it his small cap star based on the chart he felt it could go to the target 6.3 c
 
Re: SSN - Samson Exploration

Woohoo bring out the bananas!

:bananasmi:bananasmi:bananasmi:bananasmi:bananasmi

If we can crack 6 cents tomorrow it's definitely a moet and chandon friday :D
 
Re: SSN - Samson Exploration

Only 5 more trading days until deal or no deal time!

I'm happy enough to hold through to the sale result which hopefully will be around the 70 million mark.

Even at the low end of 61 million it's a lot of money for a microcap oiler to utilise in what appears to be some very productive acreages.

And nearly 5% royalties from drilling on their acreages will translate to some tidy revenues as well.

I would presume that once whoever the operator is that is willing to spend 70 odd million on acreages has forked out that 70 million to SSN they will get the drill rigs rolling onto those acreages pretty quick smart to get their return on investment.

And then it's 5% in the bank for SSN for every well ...happy days!

Reading the latest company presentation with their post sale valuation of 9 cents makes for an attractive short term profit target but long term 96 cents fully derisked is an equally rewarding prospect.

Seems the US investment community is seeing the upside here!

Fridays trade SSN must of been close to the best performer on the djia!

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looking forward to another week of high volume action with SSN!
:D
 

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Re: SSN - Samson Exploration

Slipperz - am wondering if ASF is morphing into a social/poltical chat site ;). I've been much more active on the 'dark side' if only because there is so much (often way too much) dialogue on the O&G speccies. Been accumulating SSN/SSNO over the months and so glad - incredible deal hopefully inked this week. My main game is MMR and the PEP11 partners and again there have been few contributors on ASF :cool:

Anyway, SSN is looking good for the run up to 9c or thereabouts in the short term and as you say should gradually power on to become a great Aussie O&G player with it's various projects underway. Even if this sale was to fall over (should see the numerous scenarios being speculated over on the other forum), the permit valuation is obviously in the ball park and it seems there are plenty of interested parties lining up to get a foothold in the Niobrara, here's a recent article from US: and best wishes all SSN holders :)

http://www.nyse.com/interface/jsp/N...40900_BusinessWire_141060460&isdowjones=false

Saturday, June 12, 2010New form of drilling for oil sparks boom

Every day, about 15 briefcases are lined up at the door of the Weld County Clerk and Recorder's Office in north Greeley, each saving a place in line to sit at one of 10 available research stations.

Here, from morning until the office closes, landmen are looking up mineral rights records to make inroads into the latest oil boom in Weld County. Since January, the buzz created by new discoveries in the Niobrara oil shale formation in northern Weld has become an audible rumble echoing throughout the country.

There's no comparison at all to last year, said Gaye Florio, chief deputy clerk and recorder for Weld. Then, we had maybe two or three in here a week. At the end of January, when this started, they're lined up at the door every morning with their briefcases.

The Niobrara formation, an oil-prone, mature-source rock field, extends beyond the Wattenberg Field, Weld County's major oil play in the Denver-Julesburg basin, and it's nothing new. Oil and gas developers have been tapping this play for years.

What's renewed interest in the field is new technology that allows for horizontal drilling, which taps into areas impenetrable to vertical drilling.

A horizontal well drilled by Houston-based EOG, formerly Enron Oil and Gas, surpassed normal oil production by 1,000 barrels of oil in just one day. That one well was producing 1,770 barrels per day, which to those in the Weld oil and gas industry was staggering, said Bill Crews, a landman with Crews & Zeren LLC, an oil and gas title and contract consulting company in Greeley.

Now, six months later, interest in the Niobrara is soaring, as companies from throughout the country take a second look. Weld mainstays Noble Energy, which just awarded a multimillion-dollar contract to a Houston-based Production Services Network, an oil and gas service company, as well as Petroleum Development Corporation, have increased their activity. Synergy Resource Corp., based out of Platteville, also is joining in.

That's why landmen are flooding the clerk's office, to find the mineral owners to negotiate leases.

Acreage we couldn't give away 10 years ago is now going for just insane prices, Crews said. This stuff up north is going to make some multimillionaires.

Interest in the play remains high, as evidenced by a recent conference that Hart Energy Publishing held in Denver, which drew 800 attendees. A similar play in North Dakota called the Bakken formation, has for the last three years energized an economy and refocused an industry.

Success in the Bakken has been very strong, and that has prompted companies to look for those types of exploration plays in other oil-prone shales, said Peggy Hart, director of unconventional resources for Houston-based Hart Energy Publishing, which publishes Oil and Gas Investor magazine. The Niobrara is rapidly becoming an interesting target.

The activity is increasing among oil and gas services companies, too. Production Services Network just won a multimillion-dollar contract with Noble and is about to lease a building for a home base in Greeley. Initially, the company said it would hire about 40 workers.

DCP Midstream, a natural gas gatherer and processor based in Denver, recently bought the Frac Tech Services building, 3026 4th Ave., south of RR Donnelley, for $1.638 million so it could expand. The company reported it planned to invest $125 million in the next year or so throughout Weld.

Sterling Black Gold LLC, also an oil services company out of Sterling, recently bought a property at 3026 1st Ave. in Greeley.

The extra industry will put idle real estate back to use, as well as take workers off the unemployment rolls.

The added interest also has the potential to not only boost county tax revenues in the next few years, but the livelihoods of small towns up north, such as Nunn and Carr, especially their restaurants and lodging, Crews said.

But the jury is still out on just how much of a boon the Niobrara can be, Crews warns.

The added element of how much oil can be extracted also is an unknown, Hart said. Typically, she said, drillers expect a 2 percent to 4 percent extraction of the oil beneath the ground.

You'll see these giant numbers being bandied about for how much oil is there, and unquestionably it's there, Hart said. People in these kinds of plays talk about how can we get recovery to 10 percent. There's a lot of engineering. Work goes on how to best drill the well, how to best complete, and coax the most oil out of these zones. They don't give it up easily. These will never be like the oil reservoirs of old, where you could just drill a well down and stick a pump on it and go.

While Weld has seen the industry heat up more than it has in a good 20 years, many are still waiting on the sidelines, Hart said.

It's significant activity from an exploration standpoint, but these things take quite a bit of time to work through, Hart said. You're looking at the early stage of the play. High-interest people are watching these wells to see how consistent the results will be and how broad of an area they will cover.

Weld County hasn't seen this kind of interest since the early '80s, back when landmen would get into fistfights over mineral rights research at the county clerk's office. Crews said this time around is much different.

I think this is major league compared to what we had before, said Crews, adding that he's been in the industry for 30 years.
 
Re: SSN - Samson Exploration

The momentum is building up in this stock, with alot more in the tank to come; looking forward to the next six months for SSN, i think it could suprise us all with how high it might go
 
Re: SSN - Samson Exploration

well i certainly hope so gecko.seems that all the planets now seem to be aligning for samson, as they find themselves right in the sweetspot.cap raising over subscribed, about to multifrac new well , land sale touted to go through soon (hopefully)perhaps jv to develop remaining tenements in the niobrara,that would be the reason for the increased interest in samson.certainly has been some impressive momentum this week, perhaps some brokers are spruiking the company?or do they tend to avoid smaller oilers like this.
company has issued some impressive potential share price figures- suggest to anyone to do the necessary research as i did a couple of months ago, and liked what i saw, pleased to have been rewarded thus far.
the making of samson will be if the niobrara is as prolific as the bakken locations are.
dyor etc.:)
 
Re: SSN - Samson Exploration

I think that two of these alligning planets that are working for SSN at the moment are the BP offshore drilling disaster - that politically - it's more palatable for US industry to start looking more for onshore drilling sites in the US, and also that with new fracture/drilling technologies; is allowing reserves which were previously unworkable, to now come into play, and not forgetting in respect to these abovementioned points, that the any Niobra plays at the moment are hot.

Once SSN banks the cash; I would hypothesise that they will be going out feverishly to explore/develop more wells on their tenaments, and also who knows what other land deals/JV's they might be pursueing in the backround on the quiet, which can only add further fule to the sp increasing and a rerating of this stock; exciting time to be in SSN now.

I'm buckled in for the ride; good luck to all holders:
 
Re: SSN - Samson Exploration

Gecko, some interesting activity out of the US last night, the SP opened at 1.10 up 4 cents from the previous trading day and closed at 1.23. It was up to 1.27 in after market trading. A lot of rumours on some of the US chat boards regarding the sale last night which really fueled the rise. The activity here was intersting also at the open but not much has happened since......
 
Re: SSN - Samson Exploration

This thread has gone pretty quiet the last couple of days? The SP gapped up yesterday and retraced most of the day and today it tested short term support at 7c, light volume day today though.

Donga, Slipperz have you got any input as to how things might play out leading into the 26th July deadline.
 
Re: SSN - Samson Exploration

skivvy said:
This thread has gone pretty quiet the last couple of days? The SP gapped up yesterday and retraced most of the day and today it tested short term support at 7c, light volume day today though.

Donga, Slipperz have you got any input as to how things might play out leading into the 26th July deadline.
Click to expand...

Not surprised to see a few profit takers heading for the exits today on a down day.

A lot of traders will have made a nice profit already and be happy to walk away before the deal is finalised or not.

Personally I'm in for the result as it seems to be an amicable deal good for both parties.

SSN gets a nice big pile of cash and some royalties and their suitor gets some very hot acreages to get drilling on and pump some revenues out of.

It's a win win situation and without my crystal ball or tea leaves I'll just hazard a bit of a commonsense educated guess and say it's likely to proceed.

Must say I didn't like that closing sell off on the dow this morning after SSN held the line all day?

Anyway futures are up 90 points in the states now and the eurozone is green so sentiment tomorrow might swing momentum back towards the holding for a deal folks and the long termers or the last chancers buying in before ann on Monday.

The 26th isn't set in stone either but hopefully it won't drag on with interminable delays.

Got a lot of potential this little oiler, If everything falls into place it could rerate quite rapidly.
:2twocents
 
Re: SSN - Samson Exploration

Thanks Slipperz I am in for the ride over the next week as well. It has been an interesting couple of days trading on ssn in the states, it was exciting with the movement over the last couple of days despite the pull back after Bernake's address. A movement from 1.06 to 1.28 before the profit taking back to 1.18 is still a nice play.
 
Re: SSN - Samson Exploration

Well here we are a couple of sleeps away from the big announcement...or not.

My thoughts are on the strategy going forward for SSN assuming the sale proceeds and the weighting I will apply to my portfolio to SSN.

All my thoughts are speculative of course but this is the scenario I'm thinking to be most llikely.

Assumption 1: The Niobrara acreage sale is to EOG given the nearology of their acreages.

Capture.PNG

EOG has 3 completions, 2 fracs waiting and 9 wells scheduled for their acreages so they must be pretty hot to trot for SSN acreages as well.

Assumption2: Once the sale is completed for the Goshen County acreages EOG ( or whoever it is) is going to get drilling quick smart and prove up the acreages leading to a) royalties and b) a better chance of a favourable farm in deal on the remaining acreages.

So this potential scenario sees SSN with royalties and a farm in arrangement in the Niobrara, debt paid down and a post tax windfall of somewhere between 40 to 50 million dollars.

Where to with that sort of cash.

I would think the gas assets like Sabretooth might be put on the back burner with the price of gas at quite low levels in the US and the focus will be on oil production from the Bakken field.

Exactly how much oil is in the Bakken field?

Somewhere between 3 and 4.3 billion barrels reccoverable
 according to this US geological Survey http://www.usgs.gov/newsroom/article.asp?ID=1911

And where are the SSN rigs going to be drilling?
 
Re: SSN - Samson Exploration

Having a bit of trouble adding more than one attachment ....

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Bullseye right in the middle of a big multi billion barrel oily patch.

Results so far nearly 3000bopd initial production from Gene 122-H now flowing at 510 bopd.

Hopefully Gary 124-H will be as prolific and we have Rodney 114_H drilling away as we speak.

With a 40-50 million dollar drilling budget the potential revenue stream here over the next few quarters is exciting.

The CEO and directors are an impressive collection of CV's and I'm thinking they are really on a winner here.

I will continue to hold post sale regardless of the huge profit potential.

The best is yet to come as far as I can tell!
:D
 

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Re: SSN - Samson Exploration

D J Basin Transaction
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that the closing of its June 24th agreement to sell 24,166 acres in Goshen County, Wyoming, for a cash purchase price of between $61 million and $79 million has been delayed by the effects of the extraordinary increase in leasing activity in Goshen County. In order to give the purchaser an opportunity to review the land title records in Goshen County, to which access is currently being limited by the County because of a flood of requests, the parties have agreed that the buyer will deposit $10 million with Samson on August 5th, with the balance of the cash due on a final closing date of September 5th.
 

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