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SAMSON OIL & GAS REPORTS INTERIM FLOWBACK RATE GENE 1-22H
Denver 1700 hours April 13th, 2010
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) provides operational advice on the
Gene 1-22H frac and initial flowback.
Gene #1-22H (30.6% working interest)
Fracture stimulation operations at the Gene #1-22H well located in Williams County, North Dakota
have been successfully completed and flow back operations have been continuing since the last
report. The oil rate over the last 24 hours (to 0800 hours CST this morning) was 859 BOPD with a
gas rate of 1,010 MCFD which is 1,027 BOEPD. The oil cut is 45%, which is, as expected,
increasing as the frac fluid is recovered.
A further report will be made to the market when the oil cut has been stabilized.
Samsons Ordinary Shares are traded on the Australian Securities Exchange under the symbol
"SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock
Exchange AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of
Samson. Samson has a total of 1,295 million ordinary shares issued and outstanding, which would
be the equivalent of 64.7 million ADSs. Accordingly, based on the NYSE AMEX closing price of
US$0.76 per ADS on April 13th 2010 the company has a market capitalization of approximately
US$49.2 million. Correspondingly, based on the ASX closing price of A$0.038 on April 13th, 2010,
the company has a market capitalization of A$49.21 million.