watch the yanks lap this up tonight, page-10

As you can see from the report essentially all of Samson's cashflow comes from the North Stockyard Field (The Bakken wells) since the sale of the Lookout Wash and Jonah fields gas assets.


Well ...... Net Mcf/D Net BOPD Net BOEPD
Leonard...... 0.0 ...... 4.2 ...... 4.2
Harstad...... 6.6 ...... 9.2...... 10.3
Gene ...... 31.9 ...... 23.4 ...... 28.7
Gary...... 121.5 ...... 60.0 ...... 80.3
Rodney...... 0 ...... 12.8 ...... 12.8
Total...... 160 ...... 110......... 136

The interesting factor is the Bakken wells deliver the current cashflow but yet the Hawk Springs project is about 90% of the future growth to SSN and at this stage doesn't add any additional cashflow.

IMO even with solid IP rates on the 3 Bakken wells, Rodney, Earl and Everett we will have big increases in our cash, in fact it should double our cashflow, but I don't see it having a huge factor on the SP.

The Hawk Springs project has approx 16,500 net acres compared to the Bakken 1,200 net acres, so it is reasonable to assume any sustainable growth will have to come from the Niobrara, unless we have other information regarding additional purchases or Joint Ventures.

I believe as we move closer to the Spud date of our first appraisal well Defender expect to see big increases purely on anticipation.

When we do receive IP rates for our Hawk Springs Project and if they are anywhere near TB's estimations it will definitely be game on.

GLTA