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Samson Oil & Gas Limited Non Renounceable Rights Issue
Press Release: Samson Oil & Gas Limited – 51 minutes ago
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DENVER & PERTH, Australia--(BUSINESS WIRE)--
The Directors of Samson Oil & Gas Limited (“Samson”) advise that the Company’s non renounceable rights issue closed on 31 May 2013.

At the close, Samson had received applications for 114,326,645 ordinary shares and 45,730,658 options, raising gross proceeds of A$2.86 million. New Shares / American Depository Shares (“ADSs”) and New Options will be issued in respect of rights issue applications on 11 June 2013 in accordance with the timetable announced to the market on 23 May 2013. The final issue price of new ADSs will be set based on the A$:US$ foreign exchange rate on June 10th.
The proceeds from the rights issue, together with existing cash reserves (US$16.4 million at 31 March 2013) will be used to fund planned infill development drilling programs on Samson’s North Stockyard and Rainbow Projects. In accordance with the ASX Listing Rules, Samson has reserved the right to place the shortfall from the rights issue (up to 590,617,308 ordinary shares and 236,246,923 options) within 3 months of the closing date.