Drilling / Well Results | Key Wells | Hedging | Capital Markets | Private Equity Activity

Samson Puts All North Stockyard Wells Online; Talks Production

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Samson Oil and Gas Limited’s net monthly production, for the last six months, is as follows:

Production from North Stockyard was maintained at around 2,200 barrels of oil per day (gross field production). All wells in the field are on line with the exception of Billabong which requires a complete clean out of the lateral; sand and plug parts from the completion still remain in the lateral restricting oil flow. Bootleg 4 and 5 are on a restricted flow due to state mandated gas capture regulations and Bootleg 7 will be shut in for a short period to switch out the pump.

Hedge Book

The Company’s hedge portfolio is as follows:

As of October 9, 2015 the book value of the hedge was approximately $550,000 as valued by Samson’s counterparty.

Spirit of America US34 #1-29

The SOA US34 #1-29 well is currently waiting on a swabbing unit to remove a full column of fluid out of the wellbore to allow the well to flow freely. The location received substantial rainfall over the last two weeks and once the location is dry, the swabbing unit will move in to swab the wellbore. After the swabbing is completed, a plunger lift system will then be used to continuously lift fluid from the wellbore.

Badger #1

Samson has been notified by the operator of the Badger #1 well that the Capstar Rig 311 spudded the well on October 9th. Surface casing has been set and cemented to a depth of 885 feet. The present operation is drilling ahead at a depth of 1,663 feet. The Badger #1 well is located in Section 29 of Township 157N, Range 81W in Ward County, North Dakota. Samson has a 25% working interest in the well, which will target the Wayne zone of the Mississippian Mission Canyon Formation at an expected depth of 4,800 feet. The prospect is a 4-way structural closure that has the potential for up to 6 development wells if successful..