Proved Developed Producing Reserves (PDP)

The PDP reserve of the North Stockyard Oilfield have been assessed by Ryder Scott as at June 30 2012, at a gross EUR of 1.8 MMSTB valued at $7.5 million net to Samson using the NYMEX forward curve as at June 30 th. Representing $86 per barrel for the second half of 2012, $88 for 2013, $87 for 2014 and 2015, $86 for 2016, and thereafter.

Probable Reserves

Samson has completed an internal estimate that suggests the MB/TF in the Northern Tier will recover a gross EUR of 7.1 MMSTB (net 3.4 MMSTB) valued at $42.4 million net to Samson.

Given the administrative status of these wells, these reserves are currently classed as Probable. At such time as the NDIC approves the requested spacing order the designation of these reserves is expected to move from Probable to Proved Undeveloped.

Samson has also completed an estimate of the Probable Reserves of the deeper Three Fork Benches (TF) and has estimated that these Probable Reserves, at a gross EUR of 24.5 MMSTB (net 6.1 MMSTB), valued at a $49.8 million net to Samson.

These estimates are set out in the following table:
                  Gross EUR MMSTB       Net EUR MMSTB       Net NPV #
MB/TF Northern Tier       7.1       3.4       $42.4
TF Both Tiers       24.5       6.1       $49.8
Total       31.6       9.5       $92.2

NPV is calculated at a 10% discount rate, using $80 per barrel for Bakken crude.

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