Samson O&G Begins 4-Well Drilling Program

- Samson O&G Begins 4-Well Drilling Program

Tuesday, August 09, 2011
Samson O&G Ltd.

Samson O&G advised that the Evergreen Rig 22 has been released from its previous well and is being mobilized to the Defender US33 #2-29H location, and will then be deployed at three additional Samson drilling locations. The initial trucks arrived Tuesday and the rig up at Defender US33 #2-29H has commenced, and it is expected that the rig will be ready for its final inspection such that drilling operations should begin late Thursday or Friday this week.

Defender US33 #2-29H, Goshen County, Wyoming, Samson 37.5% working interest

The Defender US33 #2-29H, is the first Niobrara appraisal well in Samson's Hawk Springs project. Initially, a vertical pilot well will be drilled to around 7,450' and a conventional core will be cut from the Niobrara Formation. After the orientation of the fractures has been identified from core and FMI logs, the vertical pilot borehole will be plugged back to a kick-off point above the Niobrara. From the kick-off point, the borehole angle will be built until it is horizontal and the bit is positioned within the Niobrara "B". Then 7-inch intermediate casing will be set through the curve and the lateral will thereafter be drilled for a distance of approximately 4,300' within the Niobrara "B". The well will be completed using a plug and perforation process in 15-stages that is expected to involve the placement of approximately 3,000,000 pounds of proppant into the Niobrara Formation.

Sprit of America US34 #1-29, Goshen County, Wyoming, Samson 100% working interest

The Defender well will be followed by the Spirit of America US34 #1-29. This well is the first Permian and Pennsylvanian appraisal well within the Hawk Springs project. Preparatory operations, including the well site construction and the setting of the 20-inch surface casing, have been accomplished. The Spirit of America US34 #1-29 will be drilled as an 11,000' vertical test to the Precambrian basement to evaluate multiple conventional targets; in particular, two closed structural traps in the Permian and Pennsylvanian sections.

Following the completion of the two Hawk Springs wells, the Evergreen Rig 22 will be mobilised to Montana to drill the initial two wells in the Roosevelt project.

Australia II KA6 #1-29H and Gretel 11 KA12 #1-30H, Roosevelt County, Montana, Samson 100% working interest

These wells will be the first two appraisal wells in the Roosevelt Project. Both wells will be drilled initially as vertical pilot holes to enable cores to be cut in the Bakken Formation, and then completed as a 15,500’ measured depth horizontal wells in the middle member of the Bakken Formation. The wells will then be fracture stimulated. The design of this completion is currently being undertaken but the final design will build on industry results previously achieved in the area.

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Samson O&G Projects 'Active' Drilling Program in 2H11

- Samson O&G Projects 'Active' Drilling Program in 2H11

Monday, July 11, 2011
Samson O&G Ltd.

Samson O&G has recently acquired a substantial project which expands its position in the Bakken Formation. This Roosevelt Project, along with the appraisal of the Niobrara Formation in Wyoming, and three conventional plays in the Hawk Springs project area, means that Samson will have an active drilling schedule in the second half of 2011. The combined drilling program, and the estimated cost and timing of the wells, is set out in the following table. Samson will fund this program from its existing cash resources.

As a result, Samson currently projects that it will exit the end of the calendar year with an estimated cash balance of US $32 million. This estimated cash balance takes into account existing operating cash flows, projected general and administrative expenditures, land acquisition costs, current forecasts of commodity prices and the capital expenditures noted below. However, the forecast includes no cash flow from any of these new wells during the year.

Samson's drilling program is expected to deliver appraisal results in three key areas:

• The Hawk Springs Niobrara will be the first well to be drilled and fracture stimulated in the Niobrara 'B' zone.
• Multiple conventional targets in the Hawk Springs project are planned, where considerable potential is observed from the 3-D data at both the Permian and Pennsylvanian stratigraphic levels.
• The Roosevelt Project Bakken wells will be the first ever drilling in this area and will therefore will be key tests for this project.

Defender US 33 #2-29H – Hawk Springs Project - Wyoming

This well will be the first appraisal of the Niobrara 'B' zone and is the first well to be drilled and funded 100% by Halliburton under their farmin agreement. It will be fracture stimulated following the completion of a 4,300' horizontal.

Spirit of America US 34 #1-29 - Hawk Springs Project-Wyoming

This well will be drilled as an 11,000' vertical test down to the Precambrian basement to test multiple conventional targets in the Permian and Pennsylvanian sections.

State 24-63 #10-1H – Hawk Springs Project-Wyoming

This well will be drilled as an 11,447' measured depth horizontal well in the Codell Sandstone (which lies directly beneath the Niobrara Formation). Upon completion of the well in the Codell sandstone, the fracture stimulation job is expected to fracture the Niobrara Formation.

Australia II 12 KA 6– Roosevelt Project – Fort Peck Reservation, Montana

This well will be the first appraisal well in the Roosevelt Project and will be drilled as a 15,500' measured depth horizontal well in the middle member of the Bakken Formation.

Constellation US 20 State #1-36H – Hawk Springs Project-Wyoming

This well will be Samson's second Niobrara well and is located outside the Halliburton/Mountain Energy Joint Venture area. It will be fracture stimulated following the completion of a 4200' horizontal.

State 24-63 #14-1H – Hawk Springs Project- Wyoming

This well will be drilled as an 11,272' measured depth horizontal well in the Codell sandstone. Upon completion of the well in the Codell sandstone, the fracture stimulation job is expected to fracture the Niobrara Formation.

Diamondback #1 – Onshore Gulf Coast Basin, Texas

This 8,900' well will test an amplitude anomaly in the Oligocene Frio Formation on the flank of the Big Hill salt dome in Jefferson County, Texas.

Australia IV 12 KA– Roosevelt Project – Fort Peck Reservation, Montana

This well will be the second commitment well in the Roosevelt Project and will be drilled as a 15,200’ measured depth horizontal well in the middle member of the Bakken Formation.

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Samson O&G to Participate in Chesapeake Drilling

- Samson O&G to Participate in Chesapeake Drilling

Monday, July 04, 2011
Samson O&G Ltd.

Samson O&G has elected to participate in the drilling of the State 24-63 #10-1H well with Chesapeake Energy (operator) for its 25% working interest. The State 24-63 #10-1H well is located in Township 24N, Range 63W, Section 10 in Goshen County, WY. The well will be drilled as an 11,447' measured depth horizontal well in the Codell Sandstone (which lies directly beneath the Niobrara Formation). Upon completion of the well in the Codell sandstone, the fracture stimulation job is expected to fracture the Niobrara Formation.

Samson Oil & Gas Limited has also elected to participate in the drilling of the State 24-63 #14-1H well with Chesapeake Energy (operator) for its 12.5% working interest. The State 24-63 #14-1H well is located in Township 24N, Range 63W, Section 14 in Goshen County, WY. The well will be drilled as an 11,272’' measured depth horizontal well in the Codell sandstone. Upon completion of the well in the Codell sandstone, the fracture stimulation job is expected to fracture the Niobrara Formation.

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Samson O&G Briefs on Rodney Well Completion

- Samson O&G Briefs on Rodney Well Completion

Tuesday, June 28, 2011
Samson O&G Ltd.

Samson O&G advised that the Rodney #1-14H has been turned to production following the successful fracture stimulation and completion. The work over rig was released on June 25th after all of the fracture isolation plugs were drilled out without incident. The maximum 24 hour measured oil rate during the drill-out operation was 1,439 BOPD.

The Rodney #1-14H well is located in Township 154N, Range 99W, Section 14 in Williams County, North Dakota.

HAWK SPRINGS PROJECT, WYOMING - DEFENDER US 33 #2-29H (37.5% WORKING INTEREST)

Operations commenced on the Defender well with the initiation of the construction of the well pad in preparation for the arrival of the Evergreen 42 drilling rig which is expected to arrive on location on July 16th with an anticipated spud of July 19th. The Defender well will be the first appraisal of the Niobrara B zone and will be fracture stimulated following the completion of a 4,500 foot horizontal.

The Defender US 33 #2-29H well is located in Township 25N, Range 63W, Section 29 in Goshen County, Wyoming.

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Samson O&G Acquires Additional Acreage in Bakken Play

- Samson O&G Acquires Additional Acreage in Bakken Play

Friday, June 24, 2011
Samson O&G Ltd.

Samson O&G has agreed to acquire up to 90,000 net acres of oil and gas leases in the Fort Peck Indian Reservation in, Roosevelt County, Montana, from Fort Peck Energy Company LLC (FPEC) for an undisclosed price.

Samson's new Roosevelt Project is being acquired in three tranches:

Tranche 1 is a 20,000 acre block to be acquired immediately upon closing that includes a two well drilling obligation. Tranche 2 is an option to acquire an additional 20,000 acres upon the completion of the initial two wells in Tranche 1. Tranche 3 is a 50,000 acre area covered by an Area of Mutual Interest where Samson and FPEC have agreed to jointly acquire additional leases.

Samson plans to fund its acquisition costs and the drilling of the initial two appraisal wells from its existing cash resources. While Samson's ultimate ownership interest in the three Tranches will vary, depending on FPEC's future decisions whether to back in to an interest in the acquired acreage, Samson will hold at least a 66.66% working interest (53.34% net revenue interest) in all of the acquired acreage.

The Roosevelt Project is located in a technically attractive, but largely undrilled part of the Williston Basin. After exhaustive study, Samson's technical staff has concluded that the area is part of the Bakken continuous oil accumulation with adequate porosity and oil saturation for commercial production. Samson is not alone in reaching such a conclusion as the acreage block is surrounded by leases held by other well-known energy industry participants.

The initial two well drilling program will be initiated as soon as practicable, with a target spud date of September 1st for the first well. Drilling of the second well would be expected immediately following the completion of the first well. Both wells are planned to be drilled as 4,500 foot laterals in the middle Bakken formation and then fracture stimulated using a multi stage, external casing packer completion technique.

Samson has contracted with Halliburton's Consulting and Project Management business line to provide well construction planning, and drilling and completion supervision for the initial two wells. This agreement builds on the existing relationship with Halliburton developed through Samson's Hawk Springs project and brings the considerable expertise of the largest service provider of fracture stimulation completions to Samson's new Roosevelt Project.

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Samson O&G Charges Ahead in North Dakota, Wyoming

- Samson O&G Charges Ahead in North Dakota, Wyoming

Tuesday, June 14, 2011
Samson O&G Ltd.

Samson O&G provided operational updates.

NORTH STOCKYARD FIELD, NORTH DAKOTA
EARL #1-13H (32% WORKING INTEREST)

The work over to drill out the frac plugs on the Earl #1-13H well has been completed, and a tubing string is being run into the hole so that oil and gas production can be effected on a permanent basis. During the last phase of the work over, the well was flowing whilst pressure control equipment was being used to allow tubing to be run in and out of the hole. While this is not an ideal test condition, the well flowed at an average rate of 1033 BOPD with 1.9 mmcfd of gas during this 6 day period. Cumulative oil production for the well to date is 24,680 barrels.

The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota.

RODNEY #1-14H (32% WORKING INTEREST)

The work over rig that has been operating on the Earl well is expected to be moved to the Rodney #1-14H well to drill out the frac plugs in that well.

The Rodney #1-14H well is located in Township 154N, Range 99W, Section 14 in Williams County, North Dakota.

HAWK SPRINGS PROJECT, WYOMING
DEFENDER US 33 #2-29H (37.5% WORKING INTEREST)

Samson is in the final phases of contracting a drilling rig to be used to drill two wells in the Hawks Springs project. The first of these wells is the Defender US 33 #2-29H. This well will be drilled as a 4,300 foot horizontal in the Niobrara B. The horizontal portion of the well will then be fracture stimulated.

The well will be fully funded by our farminee and Samson will retain a 37.5% equity in the well.

The spud of this well is expected the first week of July.

The Defender US 33 #2-29H well is located in Township 25N, Range 63W, Section 29 in Goshen County, Wyoming.

SPIRIT OF AMERICA US 34 #1-29 (100% WORKING INTEREST)

Following the drilling of the Defender well, a vertical exploration well will be drilled to test multiple targets, in the Permian and Pennsylvanian sections. Samson is currently expecting to fund this well in its entirety. The other partners in the well have indicated that they are unlikely to participate for various strategic reasons, rather than on any technical basis. The formal proposal to participate was issued to our partners last week, and they still have the remainder of the 30 day notice period in which to elect into the well.

The Spirit of America US 34 #1-29 well is located in Township 25N, Range 63W, Section 29 in Goshen County, Wyoming.

At the Pennsylvanian level the prospect is a structural trap, mapped as a fault bounded compressional fold.

Within the 3D seismic survey previously acquired by Samson, there are numerous follow ups to these targets if they prove to be productive. Both targets are productive elsewhere in the Denver-Julesburg Basin, and Samson therefore considers them attractive add-ons to the Niobrara project. Critical risks are that the 3D seismic data has yet to be tested and also that the reservoir quality in the Permo-Pennsylvanian section is somewhat of an unknown.

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Samson O&G Updates Ops in ND, Wyoming

- Samson O&G Updates Ops in ND, Wyoming

Friday, June 03, 2011
Samson O&G Ltd.

Samson O&G updated its operations at the North Stockyard field in North Dakota and the Hawks Springs Project in Wyoming.

NORTH STOCKYARD FIELD NORTH DAKOTA

Everett #1-15H (31% Working Interest)

The 4 1/2 inch production liner has successfully been run to a measured depth of 17,350 feet in the Everett #1-15H well. This liner will enable a 20-stage fracture stimulation to be undertaken in late August or early September.

The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson’s sixth Bakken well in the North Stockyard Field.

Earl #1-13H (32% Working Interest)

As previously advised, during the frac plug drill out operations, in the Earl well, the drill string parted and left a string of tubing and a drilling assembly in the well bore. Fishing operations have now been completed with the entire remaining bottom hole assembly recovered. While preparations were being undertaken to drill out the remaining frac plugs, Williams County roads near the drill site were temporarily closed due to the recent heavy rainfall and flooding, restricting the movement of materials. Accordingly the well was shut in and secured. The road closure is expected to delay operations by approximately 1 week.

The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota.

HAWKS SPRINGS PROJECT WYOMING

Samson has received two well proposals from Chesapeake. The wells proposed to be drilled by Chesapeake are located on the southern boundary of the Hawks Springs project, and are expected to be drilled consecutively in September and October of this year. Samson has until July 12 to elect to participate and will use this time to evaluate the proposals and make a decision. The wells are:

• State 24-63 14-1H (SSN working interest 12.5%)
• State 24-63 10-1H (SSN working interest 25%)

These wells have been proposed as 4,290 feet horizontals that will be fracture stimulated.

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Samson O&G Repays Debt Facility

- Samson O&G Repays Debt Facility

Wednesday, June 01, 2011
Samson O&G Ltd.

Samson O&G has fully repaid its debt facility. After this final repayment of the facility, which once stood at US $21 million, Samson no longer has any debt on its balance sheet, and its current cash balance is approximately US $61.2 million. Samson holds its cash and cash equivalents in three US dollar denominated bank accounts ($54.8 million) and one Australian dollar denominated account (A $6.0 million).

EVERETT #1-15H (31% WORKING INTEREST)

The Everett #1-15H well has reached a total measured depth of 17,350 feet, as planned, and is currently conditioning the hole prior to running the 4 1/2 inch production liner. This liner will enable a 20 stage fracture stimulation to be undertaken. Oil and gas shows consistent with the balance of the Bakken wells in this field were observed whilst drilling the final part of the lateral.

The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson’s sixth Bakken well in the North Stockyard Field.

EARL #1-13H (32% WORKING INTEREST)

As expected, the remaining parted tubing was extracted from the stuck point and was tripped out of the hole to the vertical part of the well bore. As the fish was moved, a marked increase in the flow rate was observed, and this flow rate of approximately 1,200 BOPD was too high to safely trip the balance of the tubing out of the well at that time. The work over crew then stood down for the holiday weekend.

Forecasted high winds in the area have curtailed operations today, but the forward strategy is to pump a well control fluid into the well and trip the fish out of the hole. Inspection of that recovery will determine the next step; if the entire bottom hole assembly is recovered, then the balance of the plugs will then be drilled out.

The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota.

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Samson O&G: Everett Well Drills Ahead

- Samson O&G: Everett Well Drills Ahead

Friday, May 27, 2011
Samson O&G Ltd.

Samson O&G advised that the Everett #1-15H well is drilling ahead in the lateral at a measured depth of 13,107 feet. Previous operations saw the 7 inch casing cemented at a measured depth of 11,231 feet. This depth was 112 feet shorter than planned but should not compromise the well because this section will be cased when the 4 inch liner is installed.

The lateral is being drilled whilst observing characteristic oil and gas shows. The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson’s sixth Bakken well in the North Stockyard Field.

Earl #1-13H (32% working interest)

Significant progress has been made in recovering the parted tubing string which was being used to drill the isolation plugs in the Earl #1-13H well. The remaining tubing and drilling assembly consists of a 1,200 feet section and the top of this fish has been conditioned such that it should be able to be extracted in the next 24 hours.

The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota.

HAWKSPRINGS PROJECT

Defender US 33 #2-29H (37.5% working interest post farmout)

The location of the Defender well, which will be the first of the Niobrara horizontals, has been agreed and is expected to spud in mid-July. This well is planned as a 4,000 foot lateral in the Niobrara ‘B’ zone and will be fully funded by our farminee. The direction of the lateral will be determined only after an orientated core is recovered from the vertical pilot hole. Examination of the core and its fracture orientation will be used to finalize the preferred direction of the lateral.

The Defender US 33 #2-29H well is located in Township 25N, Range 63W, Section 29 in Goshen County, WY.

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Samson O&G Updates ND Ops

- Samson O&G Updates ND Ops

Friday, May 20, 2011
Samson O&G Ltd.

Samson O&G advised that the Everett #1-15H well has landed in the middle member of the Mississippian Bakken Formation at a total vertical depth of 11,147 feet. While drilling into the middle member, significant levels of oil and gas shows were recorded. Production casing will now be run in the hole and cemented in preparation to drill the 5,500 foot horizontal lateral.

The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson's sixth Bakken well in the North Stockyard Field. Based on the previous wells drilled by the operator, the Everett #1-15H well is expected to take approximately 17 days to drill.

Earl #1-13H (32% working interest)

The drilling of the frac isolation plugs continues to experience delays due to weather and operational issues. It has been necessary to bring in a coiled tubing unit to aid in the previously reported recovery operation. This operation commenced this morning and should enable the tubing string to be cut and then recovered. The well, which has been flowing when operationally possible, has produced approximately 9,500 bbls of oil to date.

The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota.

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Samson O&G Chairman to Retire

- Samson O&G Chairman to Retire

Wednesday, May 18, 2011
Samson O&G Ltd.

Samson O&G announced that its Chairman, Mr. Neil MacLachlan, intends to retire from the Board of Directors effective June 30th, 2011. Mr. MacLachlan has served on Samson's Board of Directors since June 18th, 1998, and was elected Chairman of the Board on December 19th, 2007.

Upon Mr. MacLachlan's departure, Dr. Victor Rudenno will assume the position of Chairman. The Board has already initiated a process to identify candidates to serve on an expanded Samson Board. That process, which is already at an advanced stage, is focusing on individuals with skills and experience that will supplement those of the existing Board members. The Board is also keen to obtain a complement of U.S. residents on the Board in order to geographically represent Samson's increased U.S. shareholder base.

On behalf of the Samson Board of Directors, Terence Barr, Managing Director, stated, "The entire Samson Board is grateful for Neil's thirteen years of service to Samson and its shareholders. During his tenure on the Board, Neil participated in a period of tremendous growth for the Company, which growth he supported with his intelligence, diligence, wisdom and leadership. The Board extends its best wishes to Neil in his future endeavors and its most sincere thanks for his dedication to the Company and its shareholders over so many years."

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Samson Issues Update on N.D. Wells

Samson Issues Update on N.D. Wells

Monday, May 09, 2011
Samson Oil & Gas Limited

Samson Oil & Gas Limited on Sunday advised that operations on the Earl #1-13H progressed to drilling out plugs 19 to plug 11. At this point the tubing string being used to drill the plugs parted at around 4,400 feet.

The top part of the tubing string was subsequently recovered and an operation to recover the balance of the tubing is underway. This has taken longer than anticipated because the drill pad had to be reinforced with gravel as a consequence of the spring thaw. In addition, unseasonal blizzard conditions have been experienced in North Dakota which shut down operations for a 48 hour period.

A rotating snubbing unit was mobilized to the well site the morning of Friday May 6th. This equipment will enable the parted tubing string to be rotated and pulled such that the drill string is successfully recovered. The rupture in the drill string is thought to have been caused by frac sand forming a bridge behind the drill bit. Once the string is rotated and fluid circulated, the string will be recovered.

Whilst these operations have been undertaken, the well continued to flow hydrocarbons and the rate in the 24 hours ending 0500 hours on May 6th was 749 BOPD, with rates observed up to 1296 BOPD.

EVERETT #1-15H (SSN Working Interest 31%)

The Everett #1-15H spudded on May 7th, and on May 8th was at a depth of 2,214 feet. The Everett well is designed as a 5,000 ft horizontal well in the Middle Bakken. It is to be completed using external casing packers and fracture stimulated in 20 stages.

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Aladdin Spuds Exploration Well in Eastern Turkey

Aladdin Spuds Exploration Well in Eastern Turkey

Thursday, April 28, 2011
Exile Resources Inc.

Exile Resources Iannounced that, with partner Valeura Energy Inc. and operator Aladdin Middle East Ltd., it had spud the Company's first exploration well, Bostanci-1, on April 24, 2011 in Turkey. This well is located in the southern most corner of the Rubai License 2600 adjacent to the borders with Iraq and Syria.

"The Bostanci structure is a large surface anticline, with Cretaceous Mardin limestones interpreted to lie within the core of the structure as the reservoir target," said Tony Henshaw, President and CEO, of Exile Resources.

Due to surface location constraints, the Bostanci wellsite is located to the north of the target and will require a deviated well, of approximately 11,400 feet measured depth, to reach the interpreted reservoir level. This is expected to take approximately 70-80 days to drill. Exile and Valeura are sharing equally the drilling costs of the well, estimated to be $6.2 million excluding completion and cased-hole testing. This expenditure would take Exile's equity to just under 29%.

The Ogunduk area is still under evaluation, as the partners continue to evaluate the results from the seismic program and consider other leads on the License area.

Samson Tiara Gets Green Light to Open Training Facility

Samson Tiara Gets Green Light to Open Training Facility

Wednesday, April 20, 2011
P.T. Samson Tiara

Samson Tiara has received OPITO approval for its new training facility in Senipah, Kalimantan, Indonesia. This will mark the first time internationally accredited safety training will be available in the area.

The OPITO approval for the Senipah training facility covers 4 courses: Tropical Basic Offshore Safety Induction and Emergency Training (T-BOSIET), Tropical Further Offshore Emergency Training (T-FOET), Travel Safely by Boat (TSBb) and Further Travel Safely by Boat (FTSBb).

Mr. David Donaldson, Managing Director of P.T. Samson Tiara commented, "We are pleased to continue our tradition of being a company of firsts. Samson Tiara was the first to offer properly simulated H.U.E.T training in Indonesia in 1994 and continued on to become the first to offer OPITO’s internationally recognized training in Indonesia in 2004. Now, in 2011, we are proud to be the first to offer OPITO training to the rapidly growing Oil & Gas sector in Kalimantan."

This new facility, approximately sixty kilometers from Balikpapan, will allow P.T. Samson Tiara to provide high quality, internationally accredited offshore safety and survival training to the hundreds of companies operating in the area, training that until now was only available from our facility in Cilegon, Banten.

Samson O&G Updates Ops at North Stockyard Oilfield

Samson O&G Updates Ops at North Stockyard Oilfield

Tuesday, April 19, 2011

Samson O&G Ltd.

Samson O&G advised on the three active wells in the North Stockyard Oilfield.

The Earl #1-13H has been under flow back since April 13th but the 19 frac plugs have yet to be drilled out. The flow rates will be published later this week when the plugs are expected to be removed. A work over rig is already being mobilized to the Earl well site, and is presently expected to initiate the plug drill out either late Tuesday or Wednesday of this week.

After completing the drill out of the Earl well, the work over rig will move to the Rodney #1-14H location and conduct the drill out of the plugs in that well.

Separately, the drilling rig that is to drill the Everett #1-15H well is currently being mobilized to the well site. The rig move is being hampered by poor weather conditions and the spring thaw of the well sites. Upon completion of the mobilization, the rig owner is planning to undertake repairs to the rig before commencing drilling, so the spud is currently expected to occur the last week of April.

Samson O&G Closes Asset Sale, Sets Frac Date for Earl Well

Samson O&G Closes Asset Sale, Sets Frac Date for Earl Well

Thursday, March 31, 2011
Samson O&G Ltd.

Samson O&G has closed its previously announced sale of gas assets in the Jonah and Lookout Wash Fields in Green River Basin, Wyoming for $6.3 million to a group of private buyers, with an effective date of January 1, 2011. Samson's cash balance following this transaction stands at US $73.3 million.

Samson has also been advised that a frac date has been set for the Earl #1-13H well and it is expected that frac operations will commence Monday April 4th. Earl #1-13H was previously drilled to a measured total depth of 17,342 feet, and a 5,700 foot liner set in the horizontal section. This horizontal section will be fracced with 20 stages and the treatment is expected to place 2.3 million pounds of proppant. This operation will take approximately five days.