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SSN - Samson Oil & Gas

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Re: SSN - Samson Exploration

News out on Goshen sale, parties to agree to price prior to close

Looks like adding 3c to fair value from 6.5c imo. But market sentiment might limit it to 2c

In july prior to announcment and what looked like insider trading, it was around 5c

The announcment placed est sale price of $61-$79M

At say 1.3B shares and $60M its a 4.6c sp addition.

DYOR and cross check calcs. This is opinion only and cold be wrong.

Discl i own as of today and will sell on a bounce.
 
Re: SSN - Samson Exploration

A very nice start to the week! :D

The good news is in and we're on the up and up.
 
Re: SSN - Samson Exploration

Slipperz said:
Dow getting hammered again for no apparent reason overnight but SSN is chugging along up to 1.25.

At current cross rates that translates to 0.0699 per share so it's basically in parity with us.

Some IP figures like these might help things along as well http://shale.typepad.com/bakkenshale/littlefield-21-12h/.
:cool:
Click to expand...

SSN hit a snag today; will have to wait till mid-September :(
Funny enough though, buyers are still active.
At least the gap has been closed to 6.8c - "North please, Driver" :)

SSN n 31-08-10.gif
 
Re: SSN - Samson Exploration

We have been on struggle street a bit this week all things considered.

Only two more days trading until the land sale is finalised and the buyers are being cautious.

It was interesting watching the buyers building up to 4.3 million at 0.069 this afternoon and noone taking a bite of the .07 cherry until late afternoon.

I thought the way the buyers were stacking up we might of hit 0.71 or 0.72 at auction but all was quiet.

I guess the T3 traders and day traders will make their moves tomorrow.

I might hop in for a T3 trade myself on top of my holdings, it's still looking like pretty good buying at these prices but I'm guessing it might be a bit of a scramble in the am with less than a million up for grabs under 0.071.

If some kind soul wants to throw a few more into the sell queue at 0.07 I'd appreciate it :D
 
Re: SSN - Samson Exploration

prgudula said:
good close 1.38 +0.11 (8.66%)

http://www.google.com/finance?q=AMEX:SSN

looking forward to next week.
Click to expand...

Interesting. We seem to have been leading the way pricewise but now the US is way in front.

At current crossrates that 0.0752!

Interesting to note on google finance after the huge surge of buying at 11am an article was released from China mentioning SSN followed by another spike in buying drivng it up to the intraday high of 1.41 Velly interesting......
Capture.PNG
:eek:
 
Re: SSN - Samson Exploration

Today is the day Samsonites!

Fairly muted overnight trading in the US but still outperforming the DOW .
by 2%

My call is a new chart minus the recent downtrend after the land sale was delayed.

It shows a strong uptrend since the cap raising on the cusp of last resistance before the next leg up.

Good luck to holders todays, here's hoping for maximum sale price :D

Capture.PNG
 
Re: SSN - Samson Exploration

SAMSON OIL & GAS ANNOUNCES CLOSING OF US$63.7 MILLION
GOSHEN COUNTY SALE TRANSACTION

Denver 1800 hours September 7, 2010, Perth 0800 hours, September 8, 2010

Goshen County Sale Transaction

Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that it has closed on the first
sale of 19,451 acres of its Denver-Julesberg Basin acreage interests in Goshen County, Wyoming,
for US$63.7 million in cash, which amount includes the US$10 million deposit previously received
by Samson from the Buyer. A second closing is scheduled for the week beginning September 20th.

At the second closing, Samson will sell, at the same price per acre, 1,920 acres associated with
approved drilling permits, valued at US$6.288 million. In addition, Samson expects that a further
approved drilling permit will be accepted by the Buyer before the second closing so that another
1,339 acres, valued at US$4.385 million, will also be included. Samson also continues to work on
resolving the title defects identified by the Buyer relating to the remaining 1,056 acres subject to
the purchase agreement, but it is uncertain at this time as to how many of those defects can be
cured prior to the second closing.
 
Re: SSN - Samson Exploration

update on land sale

http://www.samsonoilandgas.com/irm/Company/ShowPage.aspx?CPID=1184&EID=44455732

Closure of Goshen County Sale Transaction
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that it has closed on the first sale of 19,451 acres of its Denver-Julesberg Basin acreage interests in Goshen County, Wyoming, for US$63.7 million in cash, which amount includes the US$10 million deposit previously received by Samson from the Buyer. A second closing is scheduled for the week beginning September 20th. At the second closing, Samson will sell, at the same price per acre, 1,920 acres associated with approved drilling permits, valued at US$6.288 million.
 
Re: SSN - Samson Exploration

Looks like a good price.

Unlike the current share price :(

Not quite what I had in mind for todays trading.

:mad:
 
Re: SSN - Samson Exploration

Things are looking precarious now.

Hopefully a bounce off 0.07 support today or it's look out below!
:confused:
Capture.PNG
 
Re: SSN - Samson Exploration

Slipperz, this sp action was not what I had in mind either. Its beyond me how it can be sold down like this so all the cash it now as and potential.

I think that there might be a subtaintial holding change out of this, one of the holders may no longer have any purpose to hold after all the debt is being repaid.

How long after one sells does a substantial holdings notification need to be announced.


Very cheap price at the moment. I do hold SSN shares.
 
Re: SSN - Samson Exploration

Apart from cash, there is alot happening in next couple of months.
Gary stimilation on or around monday 13th. (by the way how long to get results of this)
Earl should start drilling today.
Rodney frac october.
Plus 2 more well to start in q1 2011.
I think the short term traders have pulled profits (before w'end, unsure of us direction and want play money for the weekend) and then push it down. Soon they will reload to jump on the rise leading up to all the announcements.
 
Re: SSN - Samson Exploration

SSN Schedule of Events... Shows all the up coming and long term activities. I got this from another Forum (not my own work).

===========

SEPTEMBER LAST WEEK (c.o.b. 3/9/10) Update due on this?

Gary #1-24H well - "second stage isolation plug be drilled out using a coiled tubing unit before continuing the remainder of the fracture stimulation job."

SEPTEMBER 10TH

The Earl #1-13H, is the next well in the Nabors Rig 668 sequence, and is expected to spud September 10th.

SEPTEMBER 13TH

Gary #1-24H well remaining fracture stimulation - "stimulation program should re-commence on or about September 13th"

SEPTEMBER 15TH

Samson is presenting at the Annual Rodman and Renshaw global investment conference on Wednesday 15 September at 10am.

SEPTEMBER 20TH

Second closing of Goshen transaction

"A second closing is scheduled for the week beginning September 20th. At the second closing, Samson will sell, at the same price per acre, 1,920 acres associated with approved drilling permits, valued at US$6.288 million."

"In addition, Samson expects that a further approved drilling permit will be accepted by the Buyer before the second closing so that another 1,339 acres, valued at US$4.385 million, will also be included."

SEPTEMBER

New Mexico - The bone Spring Formation in State GC#2 well will be fracture-stimulated in September.


END SEP

Full new reserves report due out.
Announcement on EARL well results.

DURING FALL

1.The farm down of 2 Niobrara wells with NEW JV partner and 3D seismic

2.Seeking buyers for Rockys gas asset sale Jonah/ Lookout Wash etc /Sale announcement.

3.Announcement on possible new Bakken aquisition

OCTOBER

"The frac of the Rodney #1-14H (27% working interest) is currently planned for October."


LATE OCT

The Black Creek Drilling Company to turnkey drill the Diamonback prospect in Jefferson County, Texas in late October.

OCT 30th

Quarterly due
Highlights to look for include the ramp up of oil sales from new Bakken wells - esp. Gary/ Rodney.

END NOV

90 day production reports on GARY and RODNEY (after frac)

DEC

Final tidy up of last Goshen acreage (possibly US$2-3m due)

EARLY 2011

1.Plans to drill 2 wells in remaining Niobrara acreage (50% with NEW JV partner - to be announced)
2.Re-entry of London Flats well (100%)

JUNE 2011...on

2 drilling rigs expected on Niobrara acreage
plan to drill 2 wells per month for remainder of year
= 12 x wells at 50% with JV partner Mountain Energy
 
Re: SSN - Samson Exploration

Well looking at that makes me feel a bit better.

I have had a disasterous week.

Utterly tragic in fact.
:bricks1::bricks1::bricks1:

On Tuesday I think it was I was tracking the day pretty closely and was dithering on a buy and then saw a good op and threw in an order for a million at 0.075 for a quick day trade when it looked like it was going to get hit.

Never did and ticked up to 0.079 at close I think it was.

Guess who forgot to cancel his buy order :(

Fscking thing got hit on the way down on Wednesday and I had to sell it today to cover the trade for another 7 grand loss. :eek:

Salt in the wound that one. Gah

Anyhoo I'm happy to keep holding SSN, plenty more good news to come. A couple of good wells, a few more million in the bank and a good reserves report and we'll be away again.

For now I'm feeling a bit burned by this weeks activities and am going to distract myself with the footy finals and copious quantites of alcohol.

Have a good weekend all.

:)
 
Re: SSN - Samson Exploration

The increase in share price in the US should bring back buying confidence to SSN on the ASX. The US are now approx 5% ahead in SP.
 
Re: SSN - Samson Exploration

Just running an eye over the Rodman and Rensahw presentation.

http://www.wsw.com/webcast/rrshq18/ssn/

Can't get the audio feed to work which is a bit annoying :banghead:

Company has a valuation of 1.82 per ADR or 0.09699 per share AUS

Capture.PNG


At this stage the market is attaching a lot of risk and no reward to the reserves potential.

Only successful drilling will propel us further after that target is reached and I am confident in SSN management to create that success, derisk the acreages we hold and unlock the huge unrealised value over the next few years.

Couldn't help myself and topped up again yesterday :D
 
Re: SSN - Samson Exploration

US stayed at 1.33 which is about .071 they still see a little more value then oz at the moment
 

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