REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

  • The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
  • Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
  • Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
  • Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
  • Closed bridge financing for $150,000 and went public in 2011.
  • Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
  • Plans to acquire and develop $200 MILLION in proven reserves.

Tuesday, November 1, 2011

Samson Oil & Gas Operational Advisory


DENVER--(BUSINESS WIRE)-- Samson Oil & Gas Limited (ASX:SSN.ax - News) (NYSE AMEX: SSN) advises that preparations for Defender US33 #2-29H fracture stimulation are essentially complete and the well is set for the frac crew to arrive onsite. Approximately seventy-three frac tanks onsite have been spotted, filled with water, and are being prepped for the fracture stimulation, which is scheduled to commence on November 7th. The Defender US33 #2-29H is the first Niobrara appraisal well in Samson’s Hawk Springs project.
Spirit of America US34 #1-29H, Goshen County, Wyoming, Samson 100% working interest
The Spirit of America US34 #1-29H well crew was unsuccessful in their first attempt to deviate the well bore around the drill bit that was left in the hole, as reported last week. The crew has set a new cement plug, which has been conditioned ahead of using a more aggressive drilling assembly in the second attempt.
The forward plan is to drill to a depth of 9,060 feet just below the salt section and above the Permian target. At this point a logging run will be undertaken and 7 inch casing run, in order to put the salt section behind pipe so that the balance of the well can be drilled to the planned total depth of 11,000 feet.
The Spirit of America well is appraising the multiple conventional targets identified in the North Platte 3D seismic data set. These targets consist of a Permian age stratigraphic trap and a Pennsylvanian age structural trap.
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