OTCPK:SUNYF - Post by User
Post by
Walleyeson Sep 11, 2013 9:42pm
441 Views
Post# 21734274
It's been a tough summer.
It's been a tough summer.It's been a tough summer for a lot of producers in the oil sands and SS is no different. I am a drilling supervisor for an oil sands producer and they have all had their issues this past season. I will not mention any names here for obvious reasons but the producer I am with is a remarkable 200 mil over budget on their lattest expansion and not an overly big one at that.. Drilling has been all but suspended and all available funds have been moved over to operations in order to get the new production online. SS being 50 mil over for a new producer is not a big deal.. A lot of extra money has been slow coming in for these producers do to the problem of moving the product and the price adjustment issues. Bitumin has climb very nicely on the charts and is trading at a premium right now and many new opurtunties for transportation have been made available.
This company sits on vast oil sands holdings and very rich grounds at that. I have conversed extensively with men that have drilled many of the SAGD wells for SS and the ground they are on is very rich ground,, very.. A few hiccups for an us start company is expected,, this is not drilling in South Dakota,, a million dollars can be sucked up over night on these projects SS is actually doing very well in controlling costs.
As a share holder I am confident this stock wil do very well once they get some oil on line. All that has to happen is if they predict a production est of 5000bbls/day and get it to 6 or 7 which is doable with there reserves and they will become very interesting to some big money..
mr.james,,, do some industry research before dishing a company,, this isn't Walmart predicting when there Bannnas will get in from California,, this is Alberta oil sands,, if you can't handle the heat,, get out..