operations update

SAMSON OIL & GAS ADVISES ON RECENT OPERATIONS

Denver 1700 hours September 26th, Perth 0700 hours September 27th, 2011

HAWK SPRINGS PROJECT

Defender US33 #2-29H, Goshen County, Wyoming, Samson 37.5% working interest (carried) Samson Oil & Gas Limited (ASX: SSN; NYSE AMEX: SSN) advises that the Defender US33 #2-29H has been successfully completed with the 4 1/2 inch liner equipped with external casing packers and has been successfully run to a total measured depth of 11,071 feet. The well is now ready to be fracture stimulated. The Defender US33 #2-29H is the first Niobrara appraisal well in Samson's Hawk Springs project.

Spirit of America US34 #1-29H, Goshen County, Wyoming, Samson 100% working interest

The Evergreen Rig 22 has been released from Defender US33 #2-29H and is being mobilized to the Spirit of America US34 #1-29H well. This well has been drilled to a depth of 2,129 feet with the Clear Creek Rig 5 and the 9 5/8 inch surface casing has been run. The Clear Creek Rig 5 was subsequently mobilized to the Constellation US20 #1-36H well for drilling the surface casing portion of the well.
Drilling operations using Rig 22 are expected to commence Thursday, September 29, 2011 to drill the remainder of the well.

The Spirit of America well will be appraising the multiple conventional targets identified in the North Platte 3D seismic data. These targets consist of a Permian age stratigraphic trap and a Pennsylvanian age structural trap. This well will be a vertical well drilled to an anticipated total depth of 11,000 feet at which point it will be logged to assess the rock quality and hydrocarbon saturation.

Constellation US20 #1-36H, Goshen County, Wyoming, Samson 100% working interest

The Constellation US20 #1-36H well has been drilled to a depth of 1,722 feet and the 9 5/8 inch casing has been set and cemented.