Samson Oil & Gas Limited (ASX: SSN; NYSE AMEX: SSN) provides advice on its current projects. ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANAGretel II 12KA 3 #1-30H, (SSN 100% WI, subject to a 33.34% backin right) The Gretel II fracture stimulation of the Bakken Formation was successfully completed on March 28 th utilizing the sliding sleeve frac method. 1.7 million pounds of proppant was pumped into 20 stages. A workover rig is currently drilling out the frac plugs on the Gretel II well. The frac plug and perforating gun have been recovered from the vertical part of the hole and 5 of the 19 frac plugs have been drilled out. The well will subsequently be flowed back. Following the flow back, production facilities will be built on site. This is expected to occur over the next few weeks. Australia II 12KA 6, #1-29H, (SSN 100% WI, subject to a 33.34% back-in right) The frac plugs have been successfully drilled out from the Australia II well. Approximately 600 barrels of oil were produced from the Australia II well during the plug drill-out and flow-back operations. The well is currently shut-in while production facilities are being built on site. This operation is expected to be completed over the next two weeks. Abercrombie 1-10H (RICHLAND COUNTY, MONTANA, SSN WI 0.75%) All 29 frac plugs have been drilled out of the Abercrombie well and is currently waiting to be placed on production. 9,906 barrels of load water and 18 barrels of oil were produced during flow-back operations prior to the well being shut-in for production facilities to be built. Riva Ridge 6-7-33-56H (SHERIDAN COUNTY, MONTANASSN WI 0.76%) The Riva Ridge well has been drilled, but not fracked. The fracking will likely occur in late May. Currently all well information is being held confidential by the operator.
Investors may be too focused on U.S. stocks and China's selloff to notice Puerto Rico's troubles, but the commonwealth's problems are worsening, warns George Schultze, CEO of Schultze Asset Management.