Samson Oil & Gas Operational Advisory
June 17 2013 - 8:00PM
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.
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
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.
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