positive remainder of week?, page-23

The bit below was the first time I've seen the 2011 plan - looks exciting
2 wells a month for 6 months from June 2011 till end of 2011.

What I can garner from this, is that Samson is planning to drill all those wells with the 50/50% partner, Mountain Energy, saving our 100% owned until the techniques are perfected, helping to lower any completion risk - ie borehole stabilty (since Samson are targeting the areas with bigger natural fractures).

As it says below, $4m a pop/ 12 wells/ net $24m to SSN.

good thinking.





"2011 Drilling Program and Capital Budget Outlook

Samson is in the early stages of planning its 2011 capital budget. Although Samson is in the nascent stages of its planning process, the company is currently planning to spend $35 million in 2011 on its Niobrara and Bakken drilling programs.

The 2011 development is likely to include two Niobrara wells drilled in the first quarter of 2011, most likely as part of a two-well joint venture with an industry partner. Those wells will help determine the optimal well design and completion techniques for the play and area. Then, Samson is planning to bring two rigs into the play in June 2011 and begin drilling two wells per month. At a gross drilling and completion cost of $4.0 million each, the company's capital plan for the initial 12 wells in the Niobrara would be approximately $24.0 million, net to Samson.

Additional capital is expected to be invested in selective bolt-on acquisitions in the Bakken oil shale play.

Based on the company's current expectation of a 2011 capital budget of $30 to $40 million for the Niobrara, closing the Goshen County acreage sale should provide Samson enough capital to execute its drilling program without having to tap the capital markets."