re: enercom conference, page-19

re: enercom conference Rock has described Samson's situation very well.

Apart from a small proven play in North Stockyard which generates enough cash to fund overheads, the Samson story is really about two under-appreciated and therefore cheap plays that Samson picked when the majors werent interested.

TB believed there was commercial oil there before anyone else. The information we now have says its there. The objective for the last 12 months has been developing 3 different techniques for 3 different targets - Fort Peck Bakken, Hawk Springs Niobrara and Hawk Springs Permian.

In Hawk Springs Samson is a genuine pioneer. In Fort Peck Samson is extending the frontier of a known play. These 1st exploratory wells clearly werent going to be easy.

Thats the story we've invested our money into. Huge potential, but also high risk.

Cheers, Sharks.