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Samson Oil & Gas Limited – Allotment And Issue Of Shares And Options

Further to the announcement made on Wednesday 21 August 2013, the Directors of Samson Oil & Gas Limited (“Samson” or the “Company”) advise that the Company has completed the allotment of 32,025,360 ordinary fully paid shares together with 12,810,144 free attaching options, being a portion of the shortfall from the non-renounceable rights issue which was placed with US investors.

The balance of the placement will be allotted upon clearance of funds.

An Appendix 3B has been filed with the Australian Securities Exchange for the allotment.

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 97.3 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$0.58 per ADS on August 16th, 2013 the Company has a current market capitalization of approximately US$68.973 million (the options have been valued at an exchange rate of 0.9216). Correspondingly, based on the ASX closing price of A$0.033 for ordinary shares and a closing price of A$0.017 for the 2017 options, on August 16th, 2013, the Company has a current market capitalization of approximately A$78.407 million.

SAMSON OIL & GAS LIMITED

TERRY BARRManaging Director

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.”

Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward looking information, including uncertainties inherent in estimating the methods, timing and results of exploration activities.

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