SSN, Samson Oil & Gas Limited
SSN, 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.
SSN intends to focus on developing its two oil plays in the Bakken in North Dakota and in the Niobrara play in Wyoming, rationalizing its existing gas producing portfolio and developing a suite of new prospects in the onshore Gulf Coast Basin.
** SSN has received an additional net US$3.523 million this week on account of its purchase of a top lease covering a portion of the transferred acreage and the buyer’s acknowledgement of the cure of some title defects initially cited during its due diligence. Samson expects to receive a final payment of US$0.229 million in consideration for some additional defects being cured in the near future.
As a result, the final total consideration received by Samson from the transaction will be US$73.673 million, which compares to previous guidance estimating US$74 million.
SSN notes that the buyer, Chesapeake Energy Corporation, has now announced its total holdings of 280,000 acres in the Denver-Julesberg Basin targeting the Niobrara formation. More significant is the buyer’s public estimation that each of the wells in the play will have a EUR (Expected Ultimate Recovery) of more than 500,000 barrels.
SSN, which has retained approximately 17,000 acres in its Hawk Springs project adjacent to the acreage sold to Chesapeake, has previously been using 413,000 barrels per well in its own guidance as to the EUR for the approximately 106 net well locations that it has retained in the Hawk Springs project.
More about SSN at www.samsonoilandgas.com.au
POSC, Positron Corporation, POSC.OB
POSC is a molecular imaging company focused on Nuclear Cardiology.
POSC utilizes its proprietary product line to provide unique solutions to the Nuclear Medicine community ranging from imaging to radiopharmaceutical distribution. Positron products include: the Attrius(NYSE:TM), a PET imaging device; the Pulse(NYSE:R), a SPECT imaging device; the Nuclear Pharm-Assist(R), an automated radiopharmaceutical distribution device; and the Tech-Assist(TM), a radiopharmaceutical injection shield.
** POSC has placed orders for its sales of five Attrius(TM) PET scanners. The sales of these systems are for leading cardiology practices and hospitals. POSC also reported that with these orders, it expects to meet the high-end of its previously announced 2010 growth targets.
POSC noted that these current orders of five Attrius(TM) PET scanners are in addition to the ones previously announced in June and early September.
POSC fully anticipates it will reach the high-end of its previously stated sales goal of approximately 12 to 15 Attrius(TM) PET systems in 2010, equating to approximately $10 million to $12 million in sales, part of which will be recognized in the first quarter of 2011.
More about POSC at www.positron.com
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