SAMSON OIL & GAS ADVISES ON OPERATIONS Denver 1800 hours June 2nd, Perth 0800 hours June 3rd 2011 NORTH STOCKYARD FIELD NORTH DAKOTA EVERETT #1-15H (31% WORKING INTEREST) The 4 1/2 inch production liner has successfully been run to a measured depth of 17,350 feet in the Everett #1-15H well. This liner will enable a 20-stage fracture stimulation to be undertaken in late August or early September. The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson?s sixth Bakken well in the North Stockyard Field. EARL #1-13H (32% WORKING INTEREST) As previously advised, during the frac plug drill out operations, in the Earl well, the drill string parted and left a string of tubing and a drilling assembly in the well bore. Fishing operations have now been completed with the entire remaining bottom hole assembly recovered. While preparations were being undertaken to drill out the remaining frac plugs, Williams County roads near the drill site were temporarily closed due to the recent heavy rainfall and flooding, restricting the movement of materials. Accordingly the well was shut in and secured. The road closure is expected to delay operations by approximately 1 week. The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota. HAWKS SPRINGS PROJECT WYOMING Samson has received two well proposals from Chesapeake. The wells proposed to be drilled by Chesapeake are located on the southern boundary of the Hawks Springs project, and are expected to be drilled consecutively in September and October of this year. Samson has until July 12 to elect to participate and will use this time to evaluate the proposals and make a decision. The wells are: State 24-63 14-1H (SSN working interest 12.5%) State 24-63 10-1H (SSN working interest 25%) These wells have been proposed as 4,290 feet horizontals that will be fracture stimulated.
SSN Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
