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Samson Updates Ops at Bakken Stockyard, Rainbow Projects

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   |    Tuesday,August 26,2014

Samson Oil & Gas Limited has reported an update on its North Stockyard and Rainbow projects.

North Stockyard Project - Williams County, North Dakota

Samson has not received its normal detailed report from the Operator such that we are not able to provide a complete update on operations in North Stockyard other than that associated with the following wells:

Bootleg 8-14-15H is the first well in the North Stockyard field to target the Second Bench of the Three Forks. The 7 inch intermediate casing has been set and cemented at 11,649 feet in the 2nd Bench of the Three Forks. Currently the 6 inch lateral is being drilled at 12,176 feet.

As previously advised the Bootleg 5-14-15TFH frack has been completed. A total of 35 stages were successfully completed with 8.2 million pounds of sand placed.

Bootleg 4-14-15TFH frack has been completed with a total of 4.3 million pounds of sand.

Following the completion of the frack of Bootleg 4 we understand that the Operator is planning to move the frack crew to the Tofte 2 pad and frack both Bootleg 6 and 7. Given the operational progress made on Bootleg 8 on the same pad we expect that the frack of Bootleg 8 would follow Bootleg 6 and 7.

After completing the Bootleg 8 frack, the Billabong 2-13-14H frack would follow on approximately September 8th.

Recent heavy rainfall in Williams County has closed roads in the county from August 23rd for heavy loads, which has had an impact on field transport.

Samson’s working interest and its net revenue interest for the North Stockyard Project is set out in the following table:

Rainbow Project - Williams County, North Dakota

Gladys 1-20H (SSN 23%)

The Gladys 1-20 H well has been drilled by Continental Resources to a total depth of 19,994 feet. The well is a 1,280 acre lateral (approximately 10,000 feet) in the middle member of the Bakken Formation.

The fracture stimulation has been completed with the placement of approximately 8 million pounds of proppant in 40 frack stages. A coil tubing unit and flow back equipment has been rigged up and the first 6 frack plugs have been drilled. This operation has been halted because of the road restriction outlined above.


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