What is really sad, and probably why the pps continues to fall, is that since the Earth produces oil as a natural process, why is it that SSN can't find much of it?
Almost 3 Billion outstanding shares, a falling pps of $0.19, say otherwise.
But, fortunately Vern had the foresight to invest in new technologies that will revolutionize drilling for oil. Multiple laterals in the same vertical well bore.
Get used to hearing about it.
Yeah, maybe greed is a bit simplistic.for this point, how about "progression". That seems to be a better term to describe oil drilling.
First, came the oil oozing out of the ground on it's own, next came the uses it could be used for, did you know Noah used pitch (tar) to seal the ark?, then came shovels to try to dig it out of the ground, next came the drill bit to drill for it, and finally, lateral drilling was created to wring more oil out. Next, will be multiple laterals to drain the same well in multiple zones, rather than spending a lot more money to prepare a site for additional drilling to access the other potential paying zones.
And yes, I do believe from the work of independent geologists and scientists, which do not get their paycheck from a big oil company, that oil is not as limited in supply as we have all been led to believe, on this point I use GREED to describe the point.
Does the oil majically appear? No, it's a process, but I believe from the work that has been done, that oil is a natural product of the processes of the Earth, similar to the processes of the human body, in goes the food and water, out goes the waste.
Is that easier to grasp?
There is a current procedure, and a small company that is developing it, to cut the vertical well bore piping in several places, rather than just one, and offers the exploration company the opportunity to fracture several laterals in the same well bore in different oil zones rather than drilling several different wells to get at those different zones.
There is a small company that has developed a procedure to do part of the above, get multiple vertical zones to drain, I won't give out the symbol, as that is frowned on here, but suffice to say, there are companies working on this as we speak.
And if there was a way to fracture other zones in the vertical shaft, one well could drain several laterals which themselves are fracked. Basically, one vertical well could encompass a hundred acres or more and produce oil in multiple zones. This is the next step in the technology.
A procedure is needed to not only drain one zone through fracking, but other zones in the same horizontal well bore. I think this is the next leap in the technology that will ensure oil independence for America and the rest of the world too.
This is the reason Fracking has become so successful and created the glut which America is enjoying. No longer are we dependent on a single shaft to drain an oil zone, the zone can be fractured and become a continuous drain for thousands of feet horizontally, and vertically as well, and since the Earth is constantly making oil, the oil never runs out.
Even the Jiimies declared the prices of oil will be in the $60 range for the next (((5))) years, I think lower, and I think it will be so for a long time after 5 years. Geologists are learning that oil is not rare, it is very plentiful, the Earth makes lots of it, it is a natural product the Earth produces - it's not from dinosaurs and plants that lived millions of years ago, and it's not about to run out, another lie told to us by big oil, - look up ABIOTIC OIL.
These prices are still way too high, they should be in the $40 range and gasoline should be under a $1.50 per gallon.
$1.19 (1.98%) 9:04AM EST
heading to $50
Resistance is broken
Life is good,
Gas is getting cheaper and cheaper.
With almost 3 billion company shares printed, your point is really mute.
The pps at $0.20 is about where it should be with the number of shares outstanding as well as the debt, plus, the well revenues of, on average 20%, and $60 oil for the next 5 years, as the Jiimies are reporting.
Check the numbers yourselves on one of the recent Advisories, Samson Oil & Gas Operational Advisory Nov 10th, 2014. Remember the formula, (number of wells divided by total revenue interest of each well gives the average).
Also, take a close look at Samson's Web site under "Investor Relations", "Investor Fact Sheet" - ((( Shares on Issue: 2,837,756,933 Ordinary shares as at 28/07/2014 ))).
Heading up to Crested Butte. Have several friends there that want us to visit - looking forward to getting away and enjoying some Colorado skiing and hospitality - .
Write another letter, on the message board, to TB...
LMAO - Like he really cares what you think ...
Get Your Box Top and Get Used to $0.16 per share for the next 5 years....
All the big companies are spouting out $40 oil...that seems about right with the glut.
And the glut gets bigger and bigger because companies have to drill, and drill, and drill.
$40 dollar oil will be with us for many years to come,
ah - $1.29 per gallon for gas - ain't it sweet.
Get stronger pegs for the tent down at the Shelter...it's going to be a long winter 2014, spring 2015, summer 2015, fall 2015, and winter 2015....
LMAO the Jiimies, Sandy, and the MMan
MORE OIL means MORE GLUT !!!