december quarterly

FINANCIAL
- Cash receipts from debtors for the quarter was US$1.7 million
- Samson has recorded a closing cash balance for the quarter of US$42.4 million

OPERATIONAL
- Fracking operations on the Everett #1-15H well in the North Stockyard Field, North Dakota
commenced in December with 1.6 million pounds of proppant placed in 20 stages. The well flowed
during drill-out operations as well as during the procedure to land the production tubing resulting in
hourly measured flow rates varying from 528 BOPD to 2,112 BOPD. During the first 24-hour period of
production, the well produced 1,373 BOEPD. The well has now been producing for two weeks at an
average rate of 884 BOEPD.
- In the Hawk Springs Project (Goshen County, WY), Samson’s first Niobrara appraisal well, the
Defender US33 #2-29H, was fracked in 15 stages. Following year-end, the well was placed on pump
and is currently producing between 400-500 barrels of fluid per day with a 30% oil cut. The Defender
well is the now the most northerly located Niobrara oil well discovery in the D-J Basin.
- The Spirit of America US34 #1-29 vertical well was drilled, but was unsuccessful in reaching the Lower
Permian and Pennsylvanian targets due to the bottom-hole assembly getting mechanically stuck in the
Upper Permian Goose Egg Salt section. This well will be re-drilled at a later date this year in order test
the two Permian and Pennsylvanian conventional targets down to a depth of 11,000’.
- On the Fort Peck Indian Reservation in Roosevelt County, Montana, the Australia II 12 KA 6 well was
successfully drilled to a measured depth of 14,972’ and the Gretel II 12 KA 3 well is currently in the
process of being drilled. Both wells are scheduled to be fracture stimulated during the 1st quarter of 2012.

LAND
- Samson’s current land position in the Hawk Springs projects stands at 18,000 net acres after
assuming that our farmin partner exercises their option to drill the second farmin well.
- Samson’s current land position in the Roosevelt Project is 23,000 acres (subject to FPEC’s back in
right) and is most likely to be a net 31,000 acres (should Samson elect to exercise its current option
and FPEC elect its back in right) with potential to grow that position to a net 35,000 acres with
additional leasing activity.