On May 6, 2016, Samson Oil and Gas USA, Inc. (the “Company”), a wholly owned subsidiary of Samson Oil & Gas Limited, entered into an Amendment to Employment Agreement (the “Amendment”) with Terence M. Barr, the Company’s Chief Executive Officer, President and Managing Director. The Amendment is effective as of December 31, 2015. The Amendment modifies certain provisions of Mr. Barr’s Employment Agreement dated January 1, 2011, as previously amended on December 20, 2011 and November 7, 2013 (the “Employment Agreement”). Specifically, the Amendment extends the term of the Employment Agreement to December 31, 2017 (the “Term”), establishes Mr. Barr’s annual compensation for the Term, and modifies the compensation payable to Mr. Barr upon a termination not for cause. Pursuant to the Amendment, Mr. Barr will receive a base salary of $400,000 per year (“Base Salary”) during the Term, subject to adjustment at the discretion of the Company’s Board of Directors (the “Board”). Notwithstanding the Amendment, Mr. Barr remains subject to a 15% reduction in his Base Salary (to $340,000) as part of an ongoing salary reduction applicable to all employees of the Company. Mr. Barr is also eligible to receive an annual discretionary bonus in an amount determined by the Board based on quantitative and qualitative factors, in an amount not to exceed his Base Salary. Pursuant to the Amendment, Mr. Barr is entitled to receive twelve months’ severance plus continuation of his benefits for the severance period if his employment is terminated by the Company without Cause (as defined in the Employment Agreement). The Amendment also includes a non-solicitation covenant applicable during the Term and for twelve months following the termination of Mr. Barr’s employment.

The foregoing does not constitute a complete summary of the terms of the Amendment, and reference is made to the complete text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.