This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Samson Oil & Gas Operational Advisory

Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) provides an operational advisory.

Samson’s Board of Directors is currently in the process of finalizing a 2012/13 budget that, as presently contemplated, will encompass the following projects:

Fort Peck Indian Reservation, Roosevelt County, Montana

Based on discussions with a neighboring operator, Samson expects to participate in two or three horizontal wells with long laterals in the Middle Bakken in the Roosevelt Project by the end of the second calendar quarter 2013. This program is based on positive results seen from the adjacent Abercrombie #1-10H well and the geologic mapping accomplished using the Gretel II and Australia II well results. The three wells that are currently expected to be drilled are the Prairie Falcon well (T27/28N-R53E), which will be changed to a north-south orientation to fit the regional well pattern (SSN = 48% WI, Fort Peck Energy Company (“FPEC”) = 24% WI, OTHERS = 28% WI), a 1280-acre spaced well in T27N-R53E Sections 1 & 12 (SSN = ~9.7% WI, FPEC = ~4.9% WI, OTHERS = ~85.4% WI), and a 1280-acre spaced well in T27N-R54E Sections 6 & 7 (SSN = ~2.2% WI, FPEC = ~1.1% WI, OTHERS = ~96.7% WI). Participation in these wells is subject to election and title verification.

A workover operation on the Gretel II well is expected to occur later this year by which an effort will be made to enhance oil production from the Middle Bakken by curtailing the water production from the three faults intersected at the toe end of the lateral portion of the well.

South Prairie 3-D Project, North Dakota (SSN 25% WI)

The seismic permitting process for the South Prairie 3-D survey, with the Mississippian Madison as the primary exploration objective, is in the final stages and acquisition operations are expected to commence by the end of October. The first 3-D data processing volumes would be expected to arrive in January of 2013 and the first well could be drilled as early as the end of that first calendar quarter. Ongoing leasing efforts are expected to increase the partnership’s current land position of 23,714 net acres, of which Samson has 25% or 5,928 acres.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

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