SAMSON OIL & GAS OPERATIONAL ADVISORY Denver 1700 hours March 4th, 2012, Perth 0700 hours March 5th, 2012 Samson Oil & Gas Limited (ASX: SSN; NYSE AMEX: SSN) provides operational advice on its current projects. ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA Gretel II 12KA 3 #1-30H, (SSN 100%, subject to a 33.34% backin right) Drilling operations are completed and the drill site has been cleared in preparation for the hydraulic fracture operations. We anticipate these operations to commence about March 19th. Australia II 12KA 6, #1-29H, (SSN 100%, subject to a 33.34% back-in right) The well has been flowed back from 8 open frac stages and there remain 5 stages that have yet to be flowed because of the perforating fish and plugs that remain in the well bore. The well has been shut in, in preparation for a work-over rig which is due on the well this week and it is anticipated that the remaining stages will be flowing at the end of the week after the well bore is completely cleaned. Part of that operation will include the running of a production string which, because of the gas content in the produced fluids will assist the fluid lift. The oil rate over the three days the well has been on flow has been around 70 BOPD however this rate is not considered to be diagnostic because of the condition of the well bore (fish and plugs), the lack of a tubing string and the early stage of the flow back. The oil cut was increasing with time and we expect it to continue until the well reaches its maximum potential. Abercrombie 1-10H (SSN 0.75%) The Abercrombie well has set and cemented 7 inch casing at 9,029 feet (MD) at the head of the lateral and the lateral is being drilled ahead at a depth of 9,624 feet. The surface location is 4 miles south of the Gretel II surface location, and the bottom hole location is approximately 1 mile south of the Gretel II bottom hole location. The well is being drilled as a 10,000 ft. middle Bakken horizontal. Samson Oil & Gas USA
1331, 17th Street, Suite 710, Denver Colorado 80202
Tel + 1 303 295 0344
Fax + 1 303 295 1961
HAWK SPRINGS PROJECT, GOSHEN COUNTY, WYOMING Defender US33 #2-29H, (SSN 37.5% working interest) 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:
13.0¢ Sentiment: Buy Disclosure: Held
