Re: SSN - Samson Exploration
Slipperz
Just a few questions, i am trying to find who their operator is?? i've looked thru a few well reports and keep coming across small problems..
Rodney
Gary
are they also looking for a better driller/frac crew to come on board?? perhaps something like Aurora has with Hilcorp?
Re: on the 20 to 1 well business.. do they actually get a well.. or do they just receive the cash that would build a well?
I would like to put some money into another small risky oil explorer and would like another Aut.. but would like them to not have issues with the well's.
Good question Angus Smart.
I went for a trawl through the past two quarterlies ( which makes for very happy reading I might add) and found this.
So there's our operator I guess.
http://www.zavanna.com/company.html
Confusingly this zavanna mob seem to be more into the whole discovery side of things than drilling looking at the website?
Perhaps they subcontract drilling services?
I'm going to flick the company an email and see what response I get and ask for their permission to post a reply here and see what they say.
it is of some concern we have had problems but hopefully they can be overcome.
The biggest problem I can see is we are in the middle of a "oilrush" and it's taking so long to get frac crews on site due to the amount of drilling activity going on in the play.
As to your question re the free well I was making a comparison more than anything to the fact we are on a 4.8% royalty stream deal with the purchaser of the Goshen County acreages ( rumourtrage is pointing to Chesapeake at this stage ).
The reality is we will probably receive production based quarterly royalty cheques, which will add a new level of interest to the quarterlies for sure!
I got onboard AUT when they signed up with Hillcorp to freecarry them on a ten well program and bagged it up and got out in six months after they stalled on the capraising.
SSN has the same if not greater potential here and I won't be getting out at 14 cents, this company is going to be worth many multiples of that.
They have 70 million in cash to drill ten wells on their own to prove up their acreages and generate revenue from what is recognised as perhaps the most productive oil field in the continental united states.
They have several viable prospects other than the bakken and noibrara to follow on with.
And a major (possibly chesapeake)is going to start rolling rigs out onto 24000 acres of ours and paying us 5% of everything they drill.
If you want to get in I'd do it soon. Another 10 million going in the bank this week and possibly an ann of the buyer to market. If it is Chesapeake watch the reaction in the US (btw the US markets are trading at a premium to us 0.0683 at current cross rates)
Very exciting times for SSN holders