operational advisory 20/3, page-6

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DRILLING CONTRACTS
Samson has entered into two contracts with Frontier Drilling.
Frontier Rig 24has been contracted for an 18 month period to drill wells in both the Roosevelt Project and in Samson’s North Dakota North Stockyard Field. Frontier 24 is a new build rig which is due to be completed in May/June 2012 and will drill one well before starting the Samson contract. The rig is a 1,500 horsepower, diesel electric, rig equipped with a top drive. The rig is mounted on a box on box substructure and is capable of being skidded between wells on a single “Eco Pad”. This design will allow Samson to batch drill four wells from a single drill pad which will provide significant mobilization savings.
Samson has also contracted Frontier Rig 11 to drill the Spirit of America II well in Goshen County Wyoming. The rig is a 1,000 horse-power, diesel electric rig equipped with a top drive. This well is planned as an 11,000 ft. vertical well to assess the Permian and Pennsylvanian aged targets that have been mapped from the 3D seismic acquired as part of the Hawk Springs project. The drilling engineering plan for this well has been extensively revised since the SOA I was drilled and will use a combination of an oil based mud, higher density mud and deeper set casing to combat the shale problem previously encountered above the target zone.
The contract for Rig 11 is for one firm well but would be available to drill the next Niobrara lateral in the event that our farminee elected to drill that well.
While the timing may be affected by the existing drilling activities associated with Rig 11, and the issuance of a drilling permit, SOA II is presently expected to spud in the first half of April,