Roosevelt Project, Roosevelt County, Montana
Mississippian Bakken Formation, Williston Basin
Samson 100% working interest in Australia II & Gretel II wells, 66.7% in any subsequent drilling
Samson has an interest in approximately 45,000 gross acres (30,000 net acres) in the Roosevelt project.
Samson has entered into a farm-out agreement with Momentus Energy in this area. The transaction requires
Momentus Energy to acquire a 20 square mile 3-D seismic survey, and drill a horizontal Bakken well in
exchange for a 50% interest in the entire project area. The transaction also includes earning 50% equity in
Samson’s two wells in the project (Australia II and Gretel II) in exchange for a full carry in an approved (by
Samson) workover of both wells.
The workover program is expected to include the provision of a three phase power supply to one of the well
sites which in the case of Australia II would allow that well to be economically produced.
The Abercrombie #1-10H (SSN 2.82% working interest) well has produced a cumulative 59,659 barrels of oil
and 131,579 Mscf while producing at an average rate of approximately 36 BOPD and 101 Mscf/D during the
quarter.
The Riva Ridge 6-7-33-56H (SSN 0.58% working interest) well has produced a cumulative 26,835 barrels of oil
and 8,931 Mscf while producing at an average rate of approximately 25 BOPD and 11 Mscf/D during the
quarter
SSN Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
