new project acquisition, page-43

Guys, dont waste time with buyu/rspen, he's just baiting.

Well I for one found the presentation a good read, particularly in relation to the learnings from the Roosevelt project. My read on that info is the company has learned quite a lot to move forward with, but its quite clear Gretel2 and Australia2 are being written off purely as development wells and whatever oil they can get from them will help recoup sopme dollars but it wont be much. I noted the reference to another round of development wells - I hope the next ones will be more than that.

As for SOA2 and Defender its almost the opposite - a distinct lack of detail, but I expect that's because they arent ready to release that detail yet. Again I noted an interesting reference - the pump they installed will be replaced (already). Doesnt sound good for Defender imo the longer there is no news, so SOA2 will be the important result.

At the end of the day, 5 wells have been drilled at Hawk Springs and Fort Peck combined, for a cost to Samson of probably close to $30M. But if SOA proves to be commercial the important result is not that 1 well out of 5 is successful, it is that 1 well proves the potential of a rather large resource for the conventional plays within the Hawk Springs area. Oil and Gas - what a high stakes poker game!

Cheers, Sharks.