Samson Oil & Gas Limited (ASX: SSN) (NYSE AMEX: SSN) provides advice on its current projects.
ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA
Gretel II 12KA 3 #1-30H, (SSN 100%, subject to a 33.34% backin right)
As previously reported, the Gretel II fracture stimulation of the Bakken Formation was successfully completed, however a frac plug was set in the vertical part of the well. This plug and an attached perforating gun will be recovered when the work-over rig arrives later this week after having completed the Australia II work-over.During the intervening period the well has been flowed back and has recovered 12,000 barrels of water. The stimulation operation injected a total of 43,000 barrels. The go forward plan is to recover the fish, drill out the frac valves and run the production string and continue the flow back. Australia II 12KA 6, #1-29H, (SSN 100%, subject to a 33.34% back-in right) The work-over rig successfully retrieved the stuck perforation gun from the Australia II well and has drilled out the remaining frac plugs. This operation took longer than expected due to several breakdowns of the rig and associated equipment. The rig is currently running the production tubing after which the well will be flowed back. As noted, this rig is expected to mobilize to the Gretel II location later this week. Abercrombie 1-10H (SSN 0.75%) The Abercrombie well has been successfully stimulated, placing 2.8 million pounds of proppant in 30 stages. HAWK SPRINGS PROJECT, GOSHEN COUNTY, WYOMING Defender US33 #2-29H, (SSN 37.5% working interest) The problems experienced in the past with the rod pump in Defender have continued and as a result the well is being worked over this afternoon. The operation will pull the tubing and the pump and a decision will be taken to either run another rod pump or if possible run the down hole equipment associated with a jet pump that has been sourced. The provider of this equipment has yet to advise a firm delivery date, but it is expected to be in the short term. The continuing difficulty associated with the rod pump arises from the amount of gas that is being produced from the reservoir, resulting in the partial closure of the down hole valves, which in turn means that the volume capacity of the pump is impaired. Because the jet pump operates on a venturi system, the current thinking is that the jet pump configuration will not suffer the same problem as the rod pumps.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV