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
SNN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held