SSN 0.00% 1.5¢ samson oil & gas limited

hearing for tomorrow gone for ssn

  1. 265 Posts.
    I noticed today that Samson no longer is appearing before the board tomorrow as previously noted.

    They have moved their hearing date back to November 8th. They have docket # 427 and 428. It appears that they need to have a permit in place before appearing before the board according to the wording of the paperwork. I believe that the delay was purposely done to further evaluate SOA drilling program.

    A quick run down is this is the vertical well being planned on 40 acre spacing about 1100 meters due west from SOA.

    I expected to see a permit pop up last month for this new vertical well. Since it has been delayed until early November, I would guess (and that is all it is) that we will see a new permit by end of NEXT Friday for a second vertical well. If the results from SOA look very promising, I would expect this well to be drilled as an offset well to SOA.

    One further point to be made is if SOA can be drilled, logged and is successful, I would expect TB to consider running a horizontal well in this layer in the future for greater production. Also, I have to remind myself that even though SOA is a vertical does not mean that it may not be frac stimulated. I wouldn't be surprised if we do not get a back to back frac on Defender and SOA if the timing is right.

    Minimal trading on both continents right now. Most bets have been placed. I expect results in just about a month from now.

    Cheers.
    STS
 
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