Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) advises that it has entered into an agreement to sell its interests in the Roosevelt Project in Montana for $13.533 million in cash, subject only to the completion of specified due diligence by the buyer.
The agreement calls for the sale of Samson’s interest in approximately 30,000 net acres, its interest in wells Australia II, Gretel II and Abercombie and the leases comprising the drill spacing units for these wells. The transaction is due to close on or before July 31st.
Samson plans to deploy the cash raised by this transaction into the development of Samson’s North Dakotan, Bakken North Stockyard project.
roosevelt sale
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