ssn oil conference usa, page-2

it traded up to .51 in us, still a lot of interest in yahoo etc. i liked this one so i will add it on!


Samson's Bakken/Three Forks acreage is located just southeast of Brigham's State 36-1 well that recently IP'd at 3,807 BOE/D so the results will in all probability be very good. This acreage is only a very small percentage of the company's overall value or growth potential, but is very important from both a investor awareness and immediate cash flow perspective.

Smason should see fantastic results and some major upside from their Bakken participation, but they are limited to 30% ownership in five 640 acre spacing units and 10% ownership in one producing well on an additional 640 acre spacing unit. Samson expects to participate for 30% in three wells on this acreage during the first half of 2010.

Samson is currently priced at less than the value of their proved developed producing reserves and is not receiving any value for their probable and possible reserves or any of their very valuable vast leasehold acreage positions.

They haves 40,800 net acres in the Baxter Shale and 50,000 net acres in the Pierre shale each of which are very valuable and have contributed 6,500 acres of their Baxter shale to the Rubicon Unit in a partenership with Devon.

They have near term upside from this Williamson county North Dakota Bakken participation and their shallow Texas onshore Gulf coast prospects offsetting existing producers and MAJOR long term value from their extensive Baxter and Pierre shale acreage.