Cyprus Ticking; Texas May Start Hoarding Goal; Oil Activity In The Minot Area -- Finally?

Clock ticks on Cyprus -- no link, story everywhere, front page of WSJ; so many story lines: will the EU buckle? how much is the Cyprus banking system worth to Russia? [Update, a few minutes later: Drudge is reporting that Russia rebuffs Cyprus; EU working on "Plan B."]

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Texas may start "hoarding" gold. Texas legislature needs to start moving a bit faster on a number of issues. It's a red state (or a blue state; I always get the colors mixed up), but that could change. Because of the terrible economy in California a lot of Californians are moving to Texas, bringing with them the California mentality with it comes to personal responsibility. In addition, it goes without saying that an increasing number of folks coming up from Mexico will tend to change the demographics of Texas. Has anyone visited Little Havana, Florida?

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Samson Oil & Gas -- from their press release.

North Stockyard Field Development Plan

• will drill six infill development wells in the northern part of the field
• will target both the middle Bakken and the First bench of the Three Forks Formation
• a total of 14 wells approved in the 160-acre spacing order; 6 MB, 8TF
• drilling will commence next week; Frontier 24 has initiated movement
• the first pad: four wells; all 6,300 foot laterals; two MD, and two TF
• the initial four wells will be drilled consecutively
• during the drilling phase, a waste water pipeline will be constructed to lower trucking costs
• will install a gas gathering system to transport associated natural gas to a plant three miles away
• the natural gas liquids typically have a higher value than dry natural gas

South Prairie Project

• this is new: SSN has acquired an interest in South Prairie Project, located in Renville and War Counties
• prospective for conventional oil in Mississippian 
• 76-square-mile 3-D seismic grid was acquired in 2012; now mapped and analysed
• three individual prospects; the Forfar prospect is the priority target
• expects to be drilling on June 1, 2013

The Forfar Prospect

• 420-acre, dip closed structural feature similar to the Glenburn South Field which is northeast of the Forfar
• will drill to a depth of 4,900 feet to get the Glenburn zone of the Mississippian Mission Canyon Formation
• cost: $1 million gross
• wells in this are from the same Glenburn zone: EURs with 350,000 bbls of oil
• if successful, 9 development locations on 40-acre spacing