form 10-k for samson oil & gas ltd , page-5

Highlights of the results for the year ended 30 June 2011 include:
? Net profit, under IFRS, after income tax expense of $47.3 million compared to a net profit after income tax benefit of $0.8 million in the prior year.
? Net profit, under US GAAP, after income tax expense of $54.1 million compared to a net loss after income tax benefit of $24.1 million in the prior year.
? A 225% increase in gross profit, under IFRS, (excluding discontinued operations) from $0.8 million for the year ended 30 June 2010 to $2.6 million for the year ended 30 June 2011.
? A 200% increase in gross profit, under US GAAP, (excluding discontinued operations) from $0.8 million for the year ended 30 June 2010 to $2.4 million for the year ended 30 June 2011
? Increase in net assets, under IFRS, from $25.1 million as at 30 June 2010 to $76.5 million as at 30 June 2011.
? Increase in net assets, under US GAAP, from $18.9 million as at 30 June 2010 to $77.9 million as at 30 June 2011.
? Increase in cash and cash equivalents, under both IFRS and US GAAP, from $5.8 million as at 30 June 2010 to $58.4 million as at 30 June 2011.
? Decrease in borrowings, under both IFRS and US GAAP, from $11.3 million as at 30 June 2010 to nil as at 30 June 2011
? A 109% increase in oil production from 30,719 barrels in the prior year to 64,405 barrels for the current year. Gas production decreased 36% from 668,000 mcf of gas in the prior year to 423,000 mcf in the current year, following the sale of the Company's interest in the Jonah and Lookout Wash properties.