DENVER & PERTH, Australia--(BUSINESS WIRE)--Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Blackdog 3-13-14H (SSN WI 25.03%)
The Blackdog well was drilling ahead at 9,604 feet in the vertical section of the well bore. The kick off point for drilling the curve has been set at 10,769 feet, which is expected to be reached in the next 24 hours.
This middle Bakken lateral well is the infill location between the Rodney 1-14H well (SSN WI 27.18%) and the Sail and Anchor 1-13-14HBK well (SSN WI 25.03%).
Coopers 2-15-14HBK (SSN WI 27.7%),
A clean out trip was run to the liner top and a cement bond and caliper log run. A 4 ½ inch frac string was installed and the first stage ball has pumped, opening this stage in preparation for the stimulation treatment. This frac will be a 22 stage, plug and perf configuration, and is expected to commence on 30th November.
Tooheys 4-15-14HBK (SSN WI 27.7%),
A clean out trip was run to the liner top and a cement bond and caliper log run. The 7 inch casing was pressure tested and a ball pumped to open the first stage sleeve in preparation for the fracture stimulation, which is expected to commence on December 5th. The completion configuration is a 24 stage sliding sleeve.
Little Creature 1-15-14HBK (SSN WI 27.7%)
A cement bond and caliper log has been run in this well and a 4 ½ inch frac string run. The first frac stage has been perforated on tubing in preparation for a frac date of December 5th .The completion configuration is a 35 stage cemented liner. Fracture stimulation is expected to commence December 15th.
HAWK SPRINGS PROJECT, GOSHEN COUNTY, WYOMING
Bluff #1-11 (SSN WI 66%)
The access road for the Bluff well is now built and graveled with cattle guards installed. The drilling pad is constructed and ready for gravel.
About Samson Oil & Gas Limited
Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN." Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange MKT under the symbol "SSN." Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 2,547 million ordinary shares issued and outstanding (including 230 million options exercisable at AUD 3.8 cents), which would be the equivalent of 127.35 million ADSs. Accordingly, based on the NYSE MKT closing price of US$0.44 per ADS on November 25th, 2013 the Company has a current market capitalization of approximately US$57.72 million (the options have been valued at an exchange rate of 0.9144). Correspondingly, based on the ASX closing price of A$0.024 for ordinary shares and a closing price of A$0.012 for the 2017 options, on November 25th, 2013, the Company has a current market capitalization of approximately A$60.42 million.
SAMSON OIL & GAS LIMITED
TERRY BARR
Managing Director
Statements made in this press release that are not historical facts may be forward-looking statements, including but not limited to statements using words like “may,” “believe,” “expect,” “anticipate,” “should” or “will.”
Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward-looking information, including uncertainties inherent in estimating the methods, timing and results of exploration activities. A description of the risks and uncertainties that are generally attendant to Samson and its industry, as well as other factors that could affect Samson’s financial results, are included in the Company's report to the U.S. Securities and Exchange Commission on Form 10-K, which is available at www.sec.gov/edgar/searchedgar/webusers.htm.
