WHY WOULD SAMSON REQUEST “CONFIDENTIAL STATUS” FOR ITS HAWK SPRINGS WELLS? Samson has requested Confidential Status from the State of Wyoming for some of the key geological data from the Defender and Spirit of America wells just so that Samson can protect this proprietary data from its competitors for a short period of time. This is allowed in the US so that the benefit of the drilling company’s investment in that's data is protected from being used at no cost by its competitors. “Confidential Status” does not, however, affect in any way what we advise our shareholders and to the market generally. We still have a full disclosure obligation for all materially significant results of the drilling, which we will meet, but that obligation is quite different from actually publishing the data set. Blog written by Samson’s Managing Director & CEO, Terry Barr.
March 4th 2012 "The Defender downhole pump has been replaced and since Friday evening (2.5 days) the well has produced 429 bbls of oil of which 160 bbls was pumped into the well to free the sucker rods and pump. Due to the volume of fluids pumped into the well for work-over operations, it will take a few days of production to establish a reasonable evaluation;
"however, the last daily recorded rate was 288 BOPD and we expect that the oil rate will continue to increase as we continue to remove the frac fluids and reduce the annular fluid column. Cumulative oil production to date is 2,960 barrels of oil."
SSN Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
