samson oil & gas lodges quarterly report and a, page-42

Dear Mr Barr,

As a long term shareholder (approx. 4M shares SSN.ASX) I am somewhat disturbed and disappointed at the large self-appointed executive incentive scheme recently released to be approved at the end of this month.

With no results forthcoming or no tying of the incentive scheme to share price performance or oil production, I have no other option and will be voting no.

Given the share price performance and the infamous, “you ain’t seen nothing yet” quote it is quite correct we have seen nothing yet!

I am not averse to a meritocracy but merit must demand performance, not underperformance. The delays to the drilling is becoming unacceptable and surely you must be concerned regarding the way the market is currently voting with its feet and selling.

The best way forwards to restore confidence is to get the results out, wait for the market to reward with an appreciation in share price. Incentive schemes then to reward performance I will vote yes too.

If this does get approved the risk in carrying and holding SSN increases substantially with the added dilution of the share base.

As the Managing Director I hope you listen to your loyal long term shareholders and reverse this announcement until such time that it warrants it.

Best regards,
XXX YYY.

I have not posted for a while cause I've had nothing worthwhile to say, just holding on. TB needs to listen to his SHers.