Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Blackdog 3-13-14H (SSN WI 25.03%)
The 4.5 inch production liner has been run and cemented into place.
Frontier Rig 24 was released Dec 25th to move to the Rennerfeldt 2-13-H
Frac operations in the Blackdog well are expected to take place
following fracture stimulation of the Little Creature 3-15-14HBK well.
Rennerfeldt 2-13-H (SSN WI 25.03%)
Frontier Rig 24 is currently 50% rigged up on the E. Rennerfeldt 2-13-H
well pad. The Rennerfeldt well is expected to be spud within the next
Little Creature 3-15-14HBK (SSN WI 27.7%)
The Little Creature well has been prepared for frac operations, which
were expected to commence December 27th, but due to harsh winter weather
conditions frac operations were delayed a few days. The fracture
stimulation is expected to begin this morning.
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$0.42 per ADS on
December 27th, 2013 the Company has a current market capitalization of
approximately US$55.94 million (the options have been valued at an
exchange rate of 0.8906). Correspondingly, based on the ASX closing
price of A$0.023 for ordinary shares and a closing price of A$0.012 for
the 2017 options, on December 27th, 2013, the Company has a current
market capitalization of approximately A$61.34 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
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. A description of the risks and uncertainties that are
generally attendant to Samson and its industry, as well as other factors
that could affect Samson’s financial results, are included in the
Company's report to the U.S. Securities and Exchange Commission on Form
10-K, which is available at www.sec.gov/edgar/searchedgar/webusers.htm.
Copyright Business Wire 2013