what value is ssn, page-6

Hi Matsim
I tend to disagree and believe SSN will to come to some sort of agreement to develop the Roosevelt project via a jv.
It's in our interest,it's in FPEC's interest,it's in Qauntums interest.

The land deal was secured due TB's agreement to test drill 2 appraisal wells.This was an obligation that needed to be fullfilled in order for us to secure both the 1st & 2nd tranche.Total of 40 000 acres

These locations would have been chosen for us to test as a goodwill gesture in order to secure a deal and TB naturally agreed as there is much to be gained,which Abrecombie has now proven.

FPEC want to develop this area and would not base a decision
entirely on just 2 appraisal wells being Gretel & AUS2 imo.






"Samson’s new Roosevelt Project is being acquired in three tranches:
Tranche 1, which closed today, is a 100% working interest in a 20,028 acre block that carries with it an obligation for Samson to drill two wells.

Tranche 2 is an option to acquire a 100% working interest in 20,000 additional acres from FPEC that Samson will earn upon the completion of the initial two wells in Tranche 1.

The Tranche 1 and Tranche 2 areas are mainly contiguous.
Following the drilling of the two appraisal wells in Tranche 1, FPEC will have the right to back into a 33.34% position in both tranches by reimbursing Samson’s acreage and drilling costs to the extent of that equity. In such an event, Samson will have a 66.66% working interest and a 53.34% net revenue interest."'