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Samson Oil & Gas Year End Reserves

Samson Oil & Gas Limited (ASX: SSN, NYSE MKT: SSN) provides advice on its year end reserves evaluation by Ryder Scott Company, L.P.

Samson has received its 1 January 2013 estimated reserves evaluation report from Ryder Scott Company. This reserves report takes into account the North Stockyard oil field acreage swap referenced in our announcement on 30 December 2012. The reserves report does not take into account the impact of the increased spacing density allowed following the receipt of the Spacing Order from the North Dakota Industrial Commission as this was received after 1 January 2013.

We expect this spacing order to allow a portion of the Probable Reserve to be included in the Proved Undeveloped Category.

As of 1 January 2013, the Ryder Scott Company estimates the following reserves attributable to Samson as:

   

OilMBBLS

   

GASMMCF

   

MBOE

   

NPVUS$'000's*

Proved Developed Producing 485 1,128 673 16,687

Proved Undeveloped

334 374 397 3,760
Probable 2,007 2,339 2,396 21,896

*NPV 10 – this is the Net Present Value of the future cash flows, discounted at 10%.

Proved and probable reserves attributable to producing wells or reservoirs were estimated by performance methods. Proved and probable undeveloped reserves were estimated by analogy.

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