Ann: Operational Advisory , page-16

Here ya go Bart...

Spirit of America US34 #2-29, (SSN 100% WI)
As previously advised, the Spirit of America #2 well intersected 61 feet of pay as interpreted by the
electric logging program, and its subsequent analysis in the Permo-Pennsylvanian section.
The frac equipment is onsite, and pumping operations are expected to commence this evening.
The initial frac will stimulate the lower perforations at around 10,000 feet, comprising 31 feet of
interpreted log pay. The second stage at around 9,300 feet will stimulate a single 7 feet of
interpreted log pay and the third stage at around 9,200 feet will stimulate three sandstones with 23
feet of interpreted log pay.
All three stages are expected to be completed in the next 48 hours; however, this schedule is
dependent on being able to latch on and relocate both the bridge plug and packer to each of the
subsequent stages. Given that the well will be flowed back between each stage, frac sand could be
deposited on the bridge plug, making this operation difficult. It is therefore possible that the tubing
will be required to be tripped out of the hole, thus extending the time required to complete the three
stages.
If an adequate rate is obtained from this frac, then there would be many opportunities to pursue,
both within the SOA prospect itself (such as drilling the Clipper location immediately adjacent, and
subsequently the twenty-four, 40-acre spaced wells within this prospect) and in the 24 seismically
defined prospects within the project area. These prospects have substantially identical seismic
properties to the SOA #2 prospect, which has now been proved to be generated by porosity
development within the Permian section. Some of these prospects are located at substantially
shallower depths, and could provide a consequential improvement in reservoir quality.
Samson believes that the SOA #2 results thus far have been encouraging although future
investment in this particular project requires a favorable result from the frac.

Defender US33 #2-29H, (SSN 37.5% working interest)
Formal approval has now been received from the joint venture partners to work-over the well which
is completed in the Niobrara. This operation has two operational objectives. First, to ensure that
the complete horizontal lateral is clean of sand and debris, and second, to change out the jet pump
which was on rental, for the joint venture owned rod pump. The well remains shut in pending this
workover which will commence following the completion of activities on Spirit of America #2.