This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Samson Oil & Gas Operational Advisory

Samson Oil & Gas Limited (ASX: SSN; NYSE AMEX: SSN) provides operational advice on its Hawk Springs and Roosevelt Projects.

HAWK SPRINGS PROJECT, GOSHEN COUNTY, WYOMING

Spirit of America US34 #2-29, (SSN 100% WI)

The Spirit of America #2 well was drilled into granitic basement at a total depth of 10,634 feet. The well was logged and a production liner is in the process of being run to around 10,100 feet and cemented. Quantitative log analysis is being undertaken which will be used to finalise a cased hole testing program. The forward plan for the drilling rig is to run the liner, cement it and then run production tubing and a packer such that the balance of the production test can be conducted using wireline equipment.

ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA

Australia II 12KA 6, #1-29H, (SSN 100%, subject to a 33.34% back-in right)

The well is currently pumping and has been on stream for 8 days. The oil rate has ranged from 244 BOPD to 79 BOPD with an average rate of 147 BOPD. The well has experienced a decline in oil rate and oil cut over this period. This is contrary to the early production history of offsetting Bakken wells in the region, but production may improve due to the requirement to reduce the hydrostatic pressure on the reservoir and to reduce frac and kill fluid saturation in the near wellbore.

Gretel II 12KA 3 #1-30H, (SSN 100%, subject to a 33.34% backin right)

The production facilities have been installed and the well is expected to be put on pump this week.

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 AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,996 million ordinary shares issued and outstanding (including 231 million options exercisable at AUD 1.5 cents), which would be the equivalent of 88.25 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$1.82 per ADS on June 4th, 2012 the Company has a current market capitalization of approximately US$180 million. Correspondingly, based on the ASX closing price of A$0.098 on June 4th, 2012, the Company has a current market capitalization of A$192 million. The options have been valued at their closing price of A$0.083 on June 4th, 2012 and translated to US$ at the current exchange of 0.9675 for purposes of inclusion in the US$ market capitalization calculation.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,653.09 -227.27 -1.35%
S&P 500 1,943.57 -26.50 -1.35%
NASDAQ 4,394.71 -68.1920 -1.53%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs