DENVER & PERTH, Australia--(BUSINESS WIRE)--Samson Oil & Gas Limited (ASX: SSN) (NYSE MKT: SSN) advises on the following operations:
North Stockyard (Samson operated North Tier – Working Interest 50.057%)
The Sail and Anchor 4-13-14 HBK (Horizontal Bakken) well, as reported last week, drilled from 17,350 feet (MD) to final TD of 18,050 feet (MD). A 4-1/2 inch production liner has been run and cemented. The well has 6,370 feet of treatable lateral. Drill pipe is presently being laid down in preparation to run a 4-1/2 inch tie-back string in order to set the well up for the hydraulic fracture program which is currently being scheduled for mid-July. This frac program will consist of placing 3,290,000 pounds of ceramic proppant using 173,000 barrels of slick-water. The completion will use 14 plug and perforation stages using a “hesitation” technique which is expected to emulate a 28 stage design.
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 2,229 million ordinary shares issued and outstanding, which would be the equivalent of 111 million ADSs. Accordingly, based on the NYSE MKT closing price of US$0.45 per ADS on June 17th, 2013 the Company has a current market capitalization of approximately US$49.95 million. Correspondingly, based on the ASX closing price of A$0.022 on June 17th, 2013, the Company has a current market capitalization of approximately A$49.03 million.
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SAMSON OIL & GAS LIMITED |
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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 prospectus and prospectus supplement for Samson’s recently concluded Rights Offering as well as in the Company's annual report to the U.S. Securities and Exchange Commission on Form 10-K, which are available at www.sec.gov/edgar/searchedgar/webusers.htm.
