SSN 0.00% 1.5¢ samson oil & gas limited

My how things have changed since then,hey buc. That was 31/2...

  1. 3,989 Posts.
    My how things have changed since then,hey buc. That was 31/2 years ago. Here is the December 10Q report with the W/I ( which is not 30% )  In most cases the W/I is above 30%

    The latest 10Q states the number of wells producing has jumped to 20 with another 6 shut-in. The following figure (89%) is I feel a bit like having all your eggs in the one basket. SSN rely very heavily on their N Stockyard project and they really need to get other projects running. They certainly have the potential to stay above the decline curve but cash is needed in order to do so. These N Stockyard wells seem a little tired and numbers are dropping off in their production, down to double figures in some cases. A lot of down time with the wells, some planned due to the offsets and some due to mechanical/electrical issues.

    1.   They produce 89% of our total oil production and 76% of our total gas production for the March 2015 quarter.
    1. Gene 1-22H: IP rate of 1128 Bo/d (2936 Boe/d) (30.6%W/I)
    2. Leonard 1-23H: IP rate of 49 Bo/d (900 Boe/d) (10%W/I & 37.5%WI)
    3. Gary 1-24H: IP rate of 855 Bo/d (2780 Boe/d) (37%W/I)
    4. Earl 1-13H: IP rate of 853 Bo/d (1300 Bo/d) (32%W/I)
    5. Rodney 1-14H: IP rate of 489 Bo/d (1100 Bo/d) (27%W/I)
    6. Harstad 1-15H: IP rate of 58 Bo/d (NA) (34.5%W/I)
    7. Everett 1-15H: IP rate of 323 Bo/d (1373 Boe/d) (26%W/I)
    Screen Shot 2015-05-19 at 8.02.36 pm.png Screen Shot 2015-05-19 at 8.02.50 pm.png
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