SAMSON OIL & GAS ANNOUNCES CLOSING OF US$63.7 MILLION GOSHEN COUNTY SALE TRANSACTION Denver 1800 hours September 7, 2010, Perth 0800 hours, September 8, 2010 Goshen County Sale Transaction Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that it has closed on the first sale of 19,451 acres of its Denver-Julesberg Basin acreage interests in Goshen County, Wyoming, for US$63.7 million in cash, which amount includes the US$10 million deposit previously received by Samson from the Buyer. A second closing is scheduled for the week beginning September 20th. At the second closing, Samson will sell, at the same price per acre, 1,920 acres associated with approved drilling permits, valued at US$6.288 million. In addition, Samson expects that a further approved drilling permit will be accepted by the Buyer before the second closing so that another 1,339 acres, valued at US$4.385 million, will also be included. Samson also continues to work on resolving the title defects identified by the Buyer relating to the remaining 1,056 acres subject to the purchase agreement, but it is uncertain at this time as to how many of those defects can be cured prior to the second closing.
SSN Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
