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.
- Forums
- ASX - By Stock
- SSN
- december quarterly
december quarterly
-
-
- There are more pages in this discussion • 21 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SSN (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online