$50 million dollar cr

I think I have put the pieces together on the capital raise.

http://www.sec.gov/Archives/edgar/data/1404079/000114420412009828/v303066_pos-am.htm

I hope that I am not affecting the company in any way by posting this but I would rather those on HC who are supportive of Terry and SSN review this than have half truths out there which are certainly to follow.

Apparently a document has been drawn up for a $50 Million Dollar Cap Raise (fact)

For whatever reason, that document has been made "Post Effective" or not effective at this time. In other words, the Registrant has the right to exercise this CR at a later date at his discretion (fact)
It is clear that it is to raise $50MM(fact)and that there are several ways that this can be accomplished(fact):

Ordinary Shares, no par value, in the form of Ordinary Shares or American Depositary Shares

Debt Securities

Guaranteed Debt Securities

Warrants to Purchase Ordinary Shares

Rights to Purchase Ordinary Shares

Rcrow, you are right that this Post amendment itself is not adding anything more to the amount of shares, it is just a statement to transfer registration statement on form f-3 to registration statement form S-3. In otherwords, this Post Effective Amendment is not adding more share to the already $50MM already drawn up(fact).

This form now allows Samson Oil and Gas to wait at a later time to issue these shares in whatever way that they had planned (fact). See above as ways for this to be accomplished. See below for the legal statement allowing SSN to delay this legal raising until a later date (fact).

The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.

Why was this done?
My guess is that we had a working agreement with either a bank, oil company or major investment firm to give $50MM dollars of stock for the working capital to finish up the drilling program at Fort Peck (strictly conjecture on my part).
Because of the issues with Aus II currently, this has been put on hold (either by us or by the obtainer of the shares or both) until more definitive information can be determined (conjecture).

I know many will consider this a negative but I see this as a positive for the following reasons.
1. IF and I do say IF AUS is a success then we have our funds to start the one well a month project.
2. Someone is already working with us on this and WAS willing to fork over the $50MM
3. I still believe that nothing has changed with the quality of this land and eventual EUR from this well as long as the well itself has not been damaged from the issues at hand (and it appears that we have several wells that have done well with similar problems.

When I say fact above, please do not take this to mean that I know it all or believe myself above anyone else. I put fact to help me decipher between what I read is clear documentation and what I determine to be my opinion entering the play.

If I am accused of trying to spread negative information, I emphatically deny this. I am a substantial stockholder of the ADR shares and have been for many moons and do not plan on selling any substantial portion of my portfolio anytime soon other than small parcels to pay immediate expenses.

Bottom line is that a dilution is coming and as long as we produce from Aus and Gretel and the SP follows, I am fine with that.

Sorry such a long post but legal stuff is even more longwinded than I am:-) Once again I am no lawyer so take this with a grain of salt and study it out yourselves to draw your own conclusion.

I do not hold Terry nor SSN responsible for the latest issues, we are just catching some bad breaks lately. You've got to get back up when you get knocked down. It reminds me a little of Stephen Bradbury back in the 2002 Speed Skating Olympics. He just wanted one last chance to prove to himself that he could do his best. With a weird set of circumstances he won the gold by being the last one standing and took home the first Australian Winter Games Gold medal.

http://www.youtube.com/watch?v=3N3MpkcHvM4&feature=related

Never give SSN'ers. Our day will come. Bring on the black gold!
STS