soaii what we know so far. from op advisories.

Compiled from the Op advisories.
In Chronological order from the start.


March 30th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN up to 100% working interest)
The re-drill of the Spirit of America US34 #1-29 well is anticipated to occur by mid-April with Frontier Rig 11. This well will test two conventional targets in the Permian and Pennsylvanian aged rocks to a depth of approximately 11,000 feet.


April 11th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN up to 100% working interest)
The Frontier Rig 11 is currently due to arrive on approximately April 20th to commence operations on the re-drill of the Spirit of America US34 #1-29.well. This well will test two conventional targets in the Permian and Pennsylvanian aged rocks to a depth of approximately 11,000 feet.


April 27th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN up to 100% WI)
The rig to drill the Spirit of America US34 #2-29 well is being mobilized to the well site and the well is expected to spud on or about May 1st. This 11,000’ vertical well will test two targets in the Lower Permian and Pennsylvanian age rocks. The Company previously attempted to test these targets but was unsuccessful in doing so due to drilling difficulties in the Permian salt section. A larger, more powerful top-drive rig combined with a heavy weighted oil-based mud and an intermediate casing string set over the salt and bubble gum shale section should allow us to reach our targets.


May 2nd, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN up to 100% WI)
Frontier Rig #11 has spud the Spirit of America US34 #2-29 well and is currently at a depth of 1,050 feet (0600 hours). Once the well is drilled to approximately 2,250 feet, 9 5/8” casing will be run and cemented. This 11,000’ vertical well will test two targets in the Lower Permian and Pennsylvanian age rocks. The Company previously attempted to test these targets but was unsuccessful in doing so due to drilling difficulties in the Permian salt section. A larger, more powerful top-drive rig combined with a heavy weighted oil-based mud and an intermediate casing string set over the salt and bubble gum shale section is expected to allow us to reach our targets.


May 18th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The Sprit of America #2 well has been drilled to the intermediate casing point of 9,140 feet, 70 feet deeper than the point at which the first well was abandoned, prior to penetrating the two 3D seismically defined targets. The troublesome salt section that caused several stuck bottom hole assemblies in the initial well has been successfully drilled using a heavy weight, oil based mud system along with a very conservative drilling approach being applied to the salt section. The well bore has been assessed as “in excellent condition” after it was extensively conditioned having reached the intermediate casing point. The rig is currently running the seven inch casing string. Following the cementing of that string, the well will be drilled to an expected total depth of 10,750 feet. Drilling operations are expected to re-commence late Friday this week, following the completion of this casing operation.


May 28th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The Spirit of America #2 well has set intermediate seven inch casing at a depth of 9,130 feet, which completed a significant milestone in securing the Permian salt section behind pipe. This depth is 60 feet deeper than the point at which the first well was abandoned, which did not penetrate the two 3-D seismically defined targets. Drilling operations re-commenced and the shallowest primary target in the Permian section was intersected at 9,287 feet and an interval of unconsolidated sandstone was drilled between 9,304 and 9,320 feet. A significant amount of free oil was recovered from samples within this interval. A signification oil show was also recorded over the interval 9,393 and 9,430 feet in a shaly siltstone. The well at 0600 hours this morning was drilling ahead at 9,441 feet after completing a repair to the top drive. The forward plan is to drill ahead to evaluate a deeper target prior to a total depth of approximately 10,750 feet. A comprehensive geophysical logging suite will be run at total depth.


May 31th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The Spirit of America #2 well is currently tripping for a bit at a depth of 10,053 feet, having previously set intermediate seven inch casing at a depth of 9,130 feet, The Permian section was intersected at 9,287 feet and subsequently 10 individual, unconsolidated sandstone intervals have been drilled from which significant amounts of free oil have been recovered. Based on the mud log data (acknowledging that this is a qualitative tool), a total of 220 feet of prospective reservoir rock with oil shows have been intersected.
The forward plan is to drill ahead to a total depth of approximately 10,700 feet after which a comprehensive geophysical logging suite will be run.


June 5th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The Spirit of America #2 well was drilled into granitic basement at a total depth of 10,634 feet. The well was logged and a production liner is in the process of being run to around 10,100 feet and cemented. Quantitative log analysis is being undertaken which will be used to finalise a cased hole testing program. The forward plan for the drilling rig is to run the liner, cement it and then run production tubing and a packer such that the balance of the production test can be conducted using wireline equipment.


June 19th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
Frontier Rig #11 is currently rigging down on Spirit of America #2 well. 148 feet of the Permo-Penn section was perforated. A total of 307 barrels of fluid were swabbed in at rates of up to 10 barrels of fluid per hour. An oil cut of approximately 20% was realized in the swabbing process. The oil gravity was measured at 33 API and contained a very low sulphur content (0.23%). The forward plan involves moving a workover rig onto the location and the well will be fracture-stimulated in effort to improve the productivity of the reservoir.


June 29th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The Spirit of America #2 well intersected 61 feet of pay as defined by the electric logging program and its subsequent analysis. Log analysis requires several rock and fluid property assumptions and these assumptions have in part been resolved by the initial perforation and swab tests (such as the determination of the salinity of formation water). The net pay intervals so defined by these measurements and calculations will now be fracture stimulated in three stages. The initial frac will stimulate the lower perforations at around 10,000 feet, comprising 31 feet of log pay. The second stage at around 9,300 feet will stimulate a single 7 feet of log pay and the third stage at around 9,200 feet will stimulate several sandstones with 22 feet of log pay. Detailed engineering of these fracs have been completed.
The frac treatment has yet to be scheduled, however it is not expected that there will be any undue delay in the provision of the required frac equipment. Assuming that an adequate rate can be obtained from this frac, then there would be many opportunities to pursue this result, both within the SOA prospect itself (such as drilling the Clipper location immediately adjacent, and subsequently the twenty-four, 40-acre spaced wells within this prospect) and in addition, the 24 seismically defined anomalies within the project area. These anomalies have substantially identical properties to the SOA #2 prospect which has now been proved to be generated by porosity development within the Permian section. Some of these prospects are located at substantially shallower depths, and could provide a consequential improvement in reservoir quality.
Therefore the SOA #2 results thus far have been encouraging for the successful exploitation of the prospects that have been seismically defined both within the prospect itself and the project generally. Part of that encouragement is the operational success, in being able to demonstrate the capability of the drilling and casing of this geologically attractive section.


July 13th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
As previously advised, the Spirit of America #2 well intersected 61 feet of pay as interpreted by the electric logging program, and its subsequent analysis in the Permo-Pennsylvanian section.
The frac equipment is onsite, and pumping operations are expected to commence this evening.
The initial frac will stimulate the lower perforations at around 10,000 feet, comprising 31 feet of interpreted log pay. The second stage at around 9,300 feet will stimulate a single 7 feet of
interpreted log pay and the third stage at around 9,200 feet will stimulate three sandstones with 23 feet of interpreted log pay.
All three stages are expected to be completed in the next 48 hours; however, this schedule is dependent on being able to latch on and relocate both the bridge plug and packer to each of the subsequent stages. Given that the well will be flowed back between each stage, frac sand could be deposited on the bridge plug, making this operation difficult. It is therefore possible that the tubing will be required to be tripped out of the hole, thus extending the time required to complete the three stages.

If an adequate rate is obtained from this frac, then there would be many opportunities to pursue, both within the SOA prospect itself (such as drilling the Clipper location immediately adjacent, and subsequently the twenty-four, 40-acre spaced wells within this prospect) and in the 24 seismically defined prospects within the project area. These prospects have substantially identical seismic properties to the SOA #2 prospect, which has now been proved to be generated by porosity development within the Permian section. Some of these prospects are located at substantially shallower depths, and could provide a consequential improvement in reservoir quality.
Samson believes that the SOA #2 results thus far have been encouraging although future
investment in this particular project requires a favorable result from the frac.


July 17th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
After preparing the well for the fracture stimulation treatment, Stage 1 pumping operations (at a depth of around 10,000 feet) commenced on late Thursday, July 12th. The job went as planned with the placement of 47,560 pounds of proppant. The well was then flowed back for approximately 14 hours with the recovery of 27% of the fluid pumped.
The potential problems with moving the bridge plug during the preparations to pump Stage 2 disclosed in the July 12th Advisory were in fact encountered, with the bridge plug and packer becoming stuck by frac sand, which has required a recovery operation. This recovery operation is expected to conclude today. Accordingly, stimulation operations have been temporarily suspended until the well can be prepared to effectively stimulate Stage 2. We expect stimulation operations to continue next week.

If an adequate rate is obtained from this frac, then there would be many opportunities to pursue, both within the SOA prospect itself (such as drilling the Clipper location immediately adjacent, and subsequently the twenty-four, 40-acre spaced wells within this prospect) and in the 24 seismically defined prospects within the project area. These prospects have substantially identical seismic properties to the SOA #2 prospect, which has now been proved to be generated by porosity development within the Permian section. Some of these prospects are located at substantially shallower depths, and could provide a consequential improvement in reservoir quality.


July 25th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% working interest)
As previously advised, Stage 1 of a three Stage fracture stimulation program of the interpreted oil zones in the Permian section of the SOA #2-29 well has been pumped but the bridge plug and packer became stuck by frac sand. While part of the treatment string has been recovered a 2,200 foot fish, consisting of tubing and the packer/bridge plug, remains in the well bore. Joint venture commitments to work-over the Defender well, however, have caused the efforts to recover the fish to be temporarily suspended.
The intention is to return the work-over rig to the SOA2 well site immediately following the scheduled clean-out of the Defender well. The recovery of the fish from Stage 1 would then be followed by pumping the remaining two Stages of the SOA #2-29 frac program.
As previously advised, if an economic rate is obtained from this frac, then there would be many opportunities to pursue, both within the SOA prospect itself (such as drilling the Clipper location immediately adjacent, and subsequently the twenty-four, 40-acre spaced wells within this prospect) and in the 24 seismically defined prospects within the project area. These prospects have substantially identical seismic properties to the SOA prospect, which has now been proved to be generated by porosity development within the Permian section. Some of these prospects are located at substantially shallower depths, and could provide a consequential improvement in reservoir quality.


July 31st, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The work-over rig has returned to the SOA2 well site and has begun efforts to recover a 2,200 foot
fish, consisting of tubing and the packer/bridge plug, which remains in the well bore.
Once the recovery of the fish is complete, the remaining two Stages of the SOA #2-29 frac
program will be pumped.


August 20th, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The work-over rig has recovered a sufficient amount of the fish so that the Stage 2 and Stage 3 fracture stimulation jobs can now proceed. The well has been prepared with a bridge plug and packer such that Stage 2 can be pumped as soon as our pressure pump contractor is available, which is expected to be the week of September 3rd.


August 31st, 2012 OPERATIONAL ADVISORY

Spirit of America US34 #2-29, (SSN 100% WI)
The fishing operations on the well have been completed and the well is set up for hydraulic fracture stimulation operations. The stimulation plan is to place 57,500 pounds of proppant in the two remaining frac stages with in the Permian section of the well.

S