it is not bad luck rather bad execution, page-25

Sandys,

I note that you quote half a sentance to try and prove a point but conveniantly fail to include the other half of the sentance which tells a very different story. A half truth is not truth at all.

The entire sentance read "Based on feedback received from Shareholders, it appears there may be some misapprehension as to the operation of the Long Term Incentive Program (LTIP)"

Do you know what the word "misapprehension" means Sandys? It means Delusion, Misinterpretation or Misreading. In other words your mate made a public announcement containing a thinly vaided insult to shareholders which blatently stated that shareholder didn't understand or were delusional on the subject of the LTIP. How many of our questions regarding to LTIP actually got answered in that announcement? None many. How many of our concerns got addressed? Not many. Did they stop the LTIP based on this "feedback". Hell no.

Note also that this annoucement stated "feedback", not emails sent to your mate personally. They got a lot of feedback via HC. I'm pretty sure they got some phone calls from a couple of very large holders but still no answers to the big questions and no changes were made to address the concerns of the majority who later voted against it. Yet you still want to claim that emails to your mate made them listen and cancel the LTIP. Thats crap.

They continued with the LTIP until the Monday after the cutoff for mailing in proxy votes. They had all weekend to count the proxies and decide if the LTIP would get through or not. So on the monday at lunchtime when they suddenly announced that the withdraw the entire thing, you are suggesting that your mate suddenly opened his mailbox, saw 10,000 emails that had been sent to him weeks earlier from delusional shareholders and suddenly decided shareholders might have a point. He spend the weekend reading emails rather than counting the votes? Yeah right.

When they did finally pull it, what sort of humble acknowledgement did we get from your mate Victor? Here's the acknowledgement:

"For the benefit of shareholders planning to attend the General Meeting of Samson Oil & Gas Limited to be held on Wednesday 30 May 2012, the Board of Directors advises that it has determined to withdraw all six of the resolutions that were to be put to shareholders at that meeting."

See any, "oops we were wrong" admission that you are claiming was solicited from the email campaign? Not even close. The first announcement from Victor just inferred that we were too stupid to understand and the second just said don't bother turning up to the meeting.

Without a shaddow of a doubt the feedback that stopped the LTIP with 5,000 proxy forms sent to the company that said "get stuffed". Unlike emails, HC posts and phone calls they legally were not allowed to just ignore the proxys, although they did appear to try their very best to make it as inconveniant as possible to return the damned things to them with all the right details.

But whatever you want to believe is fine by me. I think most people know exactly how the LTIP got stopped and it had nothing to do with emails. HC posts made a difference because thats what ultimately encouraged higher than normal shareholder participation in the voting but the emails were water off a ducks back.

Now, in no way am I suggesting that you stop providing them with feedback. In fact I hope that you do and that you manage to convince them to change, but I am willing to bet that the feedback that will be required to actually get them to do anything different involves proxy forms once more.