still 1 billion + overhang stock at 1.2c

Have a look at this one and I am not impress.. This thing is not going anywhere quick.. Capital reconstruction may be underway...

There are billion+ shares overhang from the recent right shortfall to be dumped by the underwritter... See attached announcement..

Becareful with this one..

Good luck


SAMSON OIL & GAS LIMITED RENOUNCEABLE RIGHTS ISSUE
Perth October 12th 2009
The Directors of Samson Oil & Gas Limited (Samson) advise that the Companys Renounceable
Rights Issue closed on 6 October 2009.
At the close, Samson has received applications for 562,375,805 ordinary shares and 56,237,580
options resulting in a shortfall of 879,989,491 ordinary shares and 87,998,949 options.
Pursuant to the Underwriting Agreement dated 2 September 2009, Patersons Securities Limited is
required to place a further 270,957,528 ordinary shares and 27,095,752 options. Samson is in
discussions with Patersons with a view to placing the balance of the shortfall with their existing
clients on a best endeavours basis.
Holding Statements will be sent to applicants on 14 October 2009.
For and on behalf of the board of
SAMSON OIL & GAS LIMITED