Wildcat Stocks: Samson Oil & Gas Advises on Recent Operations

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.

Wednesday, October 19, 2011

Samson Oil & Gas Advises on Recent Operations

DENVER & PERTH, Australia--(BUSINESS WIRE)-- Samson Oil & Gas Limited (ASX:SSN.ax - News) (NYSE AMEX: SSN) advises that the Defender US33 #2-29H continues to monitor the pressure falloff of the formation with surface gauges. An initial DFIT (diagnostic fracture injection test) was conducted Monday, October 10th. This routine test conducted an initial breakdown of the first frac stage and observation of the pressure falloff and with time allows rock property information to be gathered to assist in fine tuning the stimulation design. 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

Drilling continues at a depth of 8,674 feet on the Spirit of America US34 #1-29H well. Two separate bit trips were made during the week due to slow rates of drilling through the very hard sandstones of the Cretaceous Dakota and Jurassic Morrison Formations. After optimizing the bottom hole assembly on the drill string, an increase in the drilling rate was achieved upon drilling into the Jurassic Sundance and Triassic Chugwater Formations. The first target is located within the Permian section at a depth around 9,000 feet.

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 AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,996 million ordinary shares issued and outstanding (including 250 million options exercisable at AUD 1.5 cents), which would be the equivalent of 99.8 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$2.43 per ADS on October 14th, 2011 the Company has a current market capitalization of approximately US$236.01 million. Correspondingly, based on the ASX closing price of A$0.120 on October 14th, 2011, the Company has a current market capitalization of A$232.88 million. The options have been valued at their closing price of A$0.100 on October 14th, 2011 and translated to US$ at the current exchange of 1.0192 for purposes of inclusion in the US$ market capitalization calculation.

Source: Yahoo Finance

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