Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
NORTH STOCKYARD PROJECT (Samson 50% operated working interest)
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) advises that it is presently drilling ahead in the lateral portion of the Billabong 2-13-14HBK well at a depth of 13,850’ MD. Gas levels have remained at over 2000 units and abundant oil staining has been observed in samples while drilling the Middle Bakken silty sandstone. The forward plan is to continue to drill to a measured depth of 17,663 feet, run and cement the 4½” production liner, and then fracture stimulate the Billabong 2-13-14HBK and Sail & Anchor 4-13-14HBK wells together.
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$0.55 per ADS on July 29th, 2013 the Company has a current market capitalization of approximately US$61 million (the options have been valued at an exchange rate of 0.9257). Correspondingly, based on the ASX closing price of A$0.026 for ordinary shares and an closing price of A$0.012 for the 2017 options, on July 29th, 2013, the Company has a current market capitalization of approximately A$59.1 million.
SAMSON OIL & GAS LIMITED
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.”