Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) announced
today that, per its request, an immediate Trading Halt of its Ordinary
Shares has been issued by the Australian Securities Exchange Limited
{“ASX”) commencing Monday 19 August 2013 until Wednesday 21 August 2013
pending the announcement to the market of a capital raising. Samson has
also requested the NYSE MKT to order a similar halt to the trading of
its American Depositary Shares in the United States pending that
announcement, which request is expected to result in a similar halt in
the U.S. trading of its ADSs.
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 2,326 million ordinary shares issued and
outstanding (including 97,307,525 million options exercisable at AUD 3.8
cents), which would be the equivalent of 116 million ADSs. Accordingly,
based on the NYSE MKT closing price of US$0.58 per ADS on August 16th,
2013 the Company has a current market capitalization of approximately
US$68.34 million (the options have been valued at an exchange rate of
0.9147). Correspondingly, based on the ASX closing price of A$0.033 for
ordinary shares and a closing price of A$0.012 for the 2017 options, on
August 16th, 2013, the Company has a current market capitalization of
approximately A$77.92 million.
For and on behalf of the board of
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 timing and results of financing 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 its recent 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.
Copyright Business Wire 2013