media working for ssn-samson climbs out of red

http://www.upstreamonline.com/live/article230772.ece

SAMSON CLIMBS OUT OF THE RED

Australia?s Samson Oil & Gas climbed out of the red for the year ended 30 June as revenues and production also rose compared to the prior year period.

Samson posted a net profit of A$817,233 (US$790,836) for the 12 month period, compared to a A$30.2 million loss the previous year.

Total revenue for the year was A$5.1 million, up from the A$4.7 million booked during the prior period.

The company also saw a 25% increase in oil production 24,608 barrels in the prior year to 30,719 barrels for the current year, however gas production decreased 2% from 684 million cubic feet to 668 MMcf.

Samson added that following the end of the financial year, it successfully completed the first two installments of its transaction with Chesapeake Energy for its acquisition of a portion of Samson?s acreage in Goshen County, Wyoming.

To date, Samson said it had received almost A$70 million in proceeds from this sale, adding the third and final closing was expected in early October and was estimated to result in a further A$4 million in proceeds to the company.