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SAMSON OIL & GAS PROVIDES OPERATIONAL ADVICE
Denver 1700 hours March 16th, 2010
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) provides an operational update on
several projects that are underway.
Gene #1-22H (30.6% working interest)
The Gene #1-22H is scheduled to be fracture stimulated on March 29th. As previously reported,
this well has been drilled as a 5,500 foot horizontal in the middle Bakken Formation and has been
cased with external casing packers in the zone of interest.
Ripsaw #1 (95% working interest)
The road access and well site civil works are close to being completed on the Ripsaw #1.It is
anticipated the Black Creek Drilling Inc. Rig #2 will be mobilizing to the well location on March 22nd,
with a spud to follow one to two days later.
The Ripsaw well is evaluating a Yegua Formation channel indentified seismically and known to be
gas productive in offsetting wells. The prospect has potential resource of 1.0 Bcf.
State GC #2 (37% working interest)
The work over of this well is progressing but, as is customary, the operations are being conducted
on a 12 hour basis. The first of the three Bone Spring zones that are being evaluated has been
perforated and tested. That test indicated that the zone is capable of producing oil but will require
fracture stimulation. An estimate of the expected post fracture stimulation flow rate has yet to be
made. Once the current work over operations are complete, the estimate will be performed as part
of the stimulation design work. The stimulation is subject to crew availability but is currently
expected be scheduled for late April or early May.