|For and on behalf of the board of|
|SAMSON OIL & GAS LIMITED|
Samson Oil & Gas Limited (ASX: SSN)(NYSE AMEX: SSN) advises that it has filed its September 2012 Quarterly Report and Appendix 5B with the ASX and this report is now available on the Company’s website: www.samsonoilandgas.com 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 AMEX under the symbol "SSN." Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,996 million ordinary shares issued and outstanding (including 185 million options exercisable at AUD 1.5 cents), which would be the equivalent of 99.8 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$0.73 per ADS on October 26 th, 2012 the Company has a current market capitalization of approximately US$70.0 million. Correspondingly, based on the ASX closing price of A$0.035 on October 26 th, 2012, the Company has a current market capitalization of A$67 million. The options have been valued at their closing price of A$0.02 on October 26 th, 2012 and translated to US$ at the current exchange of 1.0313 for purposes of inclusion in the US$ market capitalization calculation.
Statements made in the Quarterly Report and Appendix 5B available on Samson’s website 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.