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Samson Oil & Gas Limited SSN
Samson Oil & Gas Limited (SSN) stock is starting to break out after a move earlier this week. Keep an eye on this little penny stock, it may have legs.
Samson Oil & Gas Limited, together with its subsidiaries, engages in the exploration, development, and production of oil and gas properties in the United States. The company owns interests in various projects located in Wyoming, North Dakota, New Mexico, and Texas.
They have properties in the Bakken Shale - http://oilshalegas.com/bakkenshale.html
Tags: gas, oil, penny, samson, ssn, stock
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Replies to This Discussion
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Permalink Reply by Stocks To Buy on -
Update: Samson Oil & Gas Limited (SSN) up again Today - now $0.46
SAMSON OIL & GAS ADVISES DRILLING OPERATIONS COMPLETE ON THE GENE #1-
22H WELL
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that the Gene #1-22H reached
a total depth of 17,000 feet on February 12th and the drilling assembly was tripped out of the hole.
A flow check indicated that the well was capable of flowing and that the mud weight had to be
increased to maintain primary well control. A reaming assembly was run into the hole and as at
0600 hours CST Sunday, February 14th the well bore was being conditioned to run the production
liner. No hole problems were encountered during this operation.
Since the last report, more continuous oil shows were recorded, with oil observed at the shale
shakers as previously reported. Gas shows continued to be recorded, with typical shows at 1000 to
2000 units over a background of between 50 and 1000 units.
http://www.samsonoilandgas.com.au/IRM/Company/ShowPage.aspx?CPID=10... Complete on Gene 1-22H Well
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Permalink Reply by Michael George on -
Nice, keep em coming!
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Permalink Reply by Stocks To Buy on
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Samson Oil & Gas Limited has a lot of potential but is risky below $1.00. Once it gets above $1.00, some bigger money will start to trickle in.
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Permalink Reply by Stocks To Buy on
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Take a look at their Bakken Shale well locations to be fracced...right adjacent to BEXP 2,000-3,000 BOEPD wells
http://www.samsonoilandgas.com.au/IRM/Company/ShowPage.aspx?CPID=11... IPAA Conference
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Permalink Reply by Brian Scalabrine on -
I like the upside this company has especially if oil can hold above $80 near term. I purchased some at .63 today and will buy more if it dips below .60.
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Permalink Reply by Stocks To Buy on
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They should have another update on their well next week...and will spud the next one in May. Very exciting times for this company finally.
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Permalink Reply by Brian Scalabrine on
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Just curious, but what's your average cost for what you own in this company right now?
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Permalink Reply by Stocks To Buy on
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It's around $0.74-$0.75 but this will increase when I buy on a break above $1.00 if that ever happens. I have a feeling it will but you never know.
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Permalink Reply by james jones on -
So do you think SSN is a good buy at this price of .66? or wait for the break above $1.
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Permalink Reply by Brian Scalabrine on
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I'm not an oil expert, but I think this looks like good news with the BOEPD(barrels of oil equivalent per day) increasing a lot.
Samson Oil & Gas Reports 2,936 BOEPD from Gene 1-22H
10:01p ET April 18, 2010 (Business Wire)
Samson Oil & Gas Limited (ASX:SSN) (NYSE AMEX:SSN) provides operational advice on the Gene 1-22H well located in Williams County, North Dakota.
Gene #1-22H (30.6% working interest)
The initial flow back results which emerged from the Gene #1-22H pointed to a sand plug having developed within the well bore. This conclusion came from the observation that the Easter Sunday rate of 1,112 BOEPD rate from the toe end of the well was not surpassed when the balance of the frac job had been completed.
In order to rectify this situation a work over rig was brought in, and using a snubbing unit, the frac plugs were drilled and residual frac sand was removed. An immediate large pressure response was observed when a plug near the heal of the well was drilled, indicating the existence of this blockage. The incidence of sand plugs occurring in these frac jobs is not an unusual occurrence as the residual frac sand drops out of the flow stream as the stream flows through the limited diameter frac plug.
In the eight hour period following the completion of the clean out operation the well flowed at an average rate of 2,406 BOPD and 3,180 MSCFD for a combined rate of 2,936 BOEPD. The current operation is running a tubing string after which the well will be placed into production. -
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Permalink Reply by Stocks To Buy on
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Wow, this is an amazing well and one of the best out of the Bakken....this is what I was talking about last week with the potential.
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Permalink Reply by Brian Scalabrine on
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It was up over a $1 in pre-market. I had to sell mine to lock in a quick 40% gain, but will buy back if we dip at all today.
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