joint venture, page-11

Thank's for sharing matsim

here is page 1 of the 2005 release on JV for anyone interested

ASX ANNOUNCEMENT
135,000 ACRES OIL AND GAS PARTNERSHIP IN WYOMING SEALED
22 November 2005
The Directors of Samson Oil & Gas N.L. (Samson) are pleased to announce a joint venture
agreement with Mr John Lockridges company Mountain Energy LLC covering 135,000 acres in the
Denver Julesburg Basin in Wyoming, USA.
Mr Lockridge is a seasoned explorer and producer recently recognised by the American
Association of Petroleum Geologists as Explorer of the Year for his work on the Niobrara
Formation.
Mr Lockeridge has spent over 20 years acquiring acreage in the joint venture area focusing on the
Niobrara Formation.
The agreement seals a 50:50 partnership over all of Mr Lockridges acreage in the Hawk Springs
area of Denver Julesburg Basin in Wyoming.
This lifts Samsons acreage position to over 175,000 gross acres in the Hawk Springs area
covering three prospective formations.
The Niobrara Formation
A fractured oil play where over 10 million recoverable barrels of oil have been discovered
just 30 miles south in the Silo Field.
The Cordell Formation
Prospective for gas in the basin evident by the Wattenberg Field which has recovered 320
BCF gas and 30 million barrels of oil
The Lance Formation
Prospective for coal bed methane
The partnership with Mr Lockeridge has been formed to pursue an aggressive exploration
programme covering three formations and using the latest drilling and completion technologies
including horizontal drilling using coil tubing. The operations will be managed by Samsons USA
subsidiary.
The joint venture is currently in the process of drilling 3 coal bed methane wells in the Lance
Formation. This will be followed early next year with deeper horizontal drilling to test the Niobrara
and Cordell formations.