new project acquisition, page-5

from the presentation RE: new project

In response to decline in oil price a new opportunity was sought that represented a lower capital cost environment.

?Samson has acquired a 25% position in a gross 23,700 acre position.
?Cost is $266 per acre.
?Located in the Williston basin, exact location is not published.
?Play is conventional oil, vertical and at around 5,000 feet.
?A 3-D survey planned for fourth quarter to confirm the leads for drilling in early 2013.
?Samson pays 33.34% of 3D seismic.
?Drilling program on a heads up basis.

?Completed wells expected at $1.1 million gross.
?Potential for 100 development wells
?Potential contingent recoverable 200,000 bbls oil per well
?9 leads identified in the Mississippian Mission Canyon Formation.
?Dolomitic reservoirs sealed by overlying and lateral facies transitions to anhydrite.
?Concept has been successfully exploited immediately adjacent.