Samson Oil & Gas Limited (ASX:SSN) (NYSE MKT:SSN) advises on the
following operations:
North Stockyard (Samson operated North Tier)
Sail and Anchor 3-13-14 HBK is presently drilling a 8-3/4 inch
intermediate hole at 7,765 feet. After setting surface casing on all
four wells in the Northern Tier of the North Stockyard, the first of the
four infill wells, Sail and Anchor 3-13-14H BK, drilled out of the
9-5/8th surface casing shoe on Friday, May 3rd. Sail and
Anchor is targeting the Middle Bakken zone, which is produced in the
offset wells.
The forward plan is to continue drilling the intermediate hole to a
depth of 11,700 feet, where a 7-inch intermediate casing string will be
set, after which a 6,300-foot horizontal section will be drilled in the
Middle Bakken.
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 2,813 million ordinary shares issued and
outstanding, which would be the equivalent of 141 million ADSs.
Accordingly, based on the NYSE MKT closing price of US$0.51 per ADS on
May 6th, 2013 the Company has a current market capitalization of
approximately US$72 million. Correspondingly, based on the ASX closing
price of A$0.024 on May 6th, 2013, the Company has a current market
capitalization of approximately A$70 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.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any of Samson’s securities, nor shall
there be any offer or sale of such securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful without
registration or qualification under the securities laws of the
jurisdiction. While Samson has filed a registration statement with the
U.S. Securities and Exchange Commission relating to a proposed Rights
Offering to its shareholders, that offering will be made only by means
of a prospectus. The U.S. prospectus and prospectus supplement for the
Rights Offering are available at www.sec.gov/edgar/searchedgar/webusers.htm.
The Australian prospectus is available at www.asx.com.au.
A copy of the U.S. prospectus and prospectus supplement may be obtained
from the information agent, Georgeson Inc. at (800)-213-0473.
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 the Rights Offering as well as the
Company's report to the U.S. Securities and Exchange Commission on Form
10-K, which are available at www.sec.gov/edgar/searchedgar/webusers.htm.
