Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Coopers 2-15-14HBK (SSN WI 27.7%)
As previously reported, the Coopers well was drilled and cased to a total depth of 17,685 feet. The well will be fracture stimulated in approximately a month’s time in conjunction with the Tooheys and Little Creatures wells.
Tooheys 4-15-14HBK (SSN WI 27.7%)
Tooheys was drilled to a total depth of 18,435 feet and the production liner was run and set at a depth of 18,405 feet. Frontier Rig 24 was released on Wednesday, Oct 9
at 12:00 a.m. The rig was then skidded to Little Creatures 1-15-14HBK. Fracture stimulation operations on the Coopers 2-15-14HBK and Tooheys 4-15-14HBK wells will not start until the Little Creatures 1-15-14HBK well has been drilled to total depth.
Little Creatures 1-15-14HBK (SSN WI 27.7%)
The Little Creatures well was spudded on Oct 11
. The 9 5/8 inch surface casing was set and cemented at 2,190 feet. The rig is currently preparing to drill the 8 ¾ inch intermediate section. Little Creatures 1-15-14HBK is estimated to be drilled to a vertical depth of approximately 11,120 feet into the Middle Bakken and the lateral portion of the well bore will be drilled to a measured depth of approximately 19,668 feet.
Billabong 2-13-14HBK (SSN WI 24.86%)
Key Energy Services Rig 370 is continuing workover operations on the Billabong 2-13-14HBK well. To date, the rig has successfully recovered approximately 20% of the drill pipe that was cemented in the hole. Operations will continue to remove the drill pipe using the wash-over assembly method.
Sail and Anchor 1-13-14HBK (SSN WI 25.03%)
The Sail and Anchor well came on production September 16
following the initial post frac flowback. The well continues to flow naturally on a 24/64" choke averaging 537 bopd. The well has produced 9,700 barrels of oil over the first 17 days.
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 2,547 million ordinary shares issued and outstanding (including 230 million options exercisable at AUD 3.8 cents), which would be the equivalent of 127.35 million ADSs. Accordingly, based on the NYSE MKT closing price of US$0.50 per ADS on October 14
, 2013 the Company has a current market capitalization of approximately US$66.28 million (the options have been valued at an exchange rate of 0.9469). Correspondingly, based on the ASX closing price of A$0.026 for ordinary shares and a closing price of A$0.012 for the 2017 options, on October 14
, 2013, the Company has a current market capitalization of approximately A$68.98 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.”