Exploration & Production | Drilling / Well Results | Capital Markets | Private Equity Activity

Samson Talks Latest Progress at Hawk Springs, Rainbow Projects

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Samson Oil & Gas Limited has reported an update on its well progress at multiple Bakken/Three Forks well projects.

Total Company Production

Samson net production for 2014 is as follows:

North Stockyard Project - Williams County, North Dakota

The infill development plan for North Stockyard is to drill 8 middle Bakken wells and 8 Three Forks wells. For ease of reference, the current status of each well is set out below with separate tables for each drill pad:

Frontier Rig 24 has completed drilling the Bootleg 7-14-15TFH Three Forks lateral to a depth of 18,535 feet (MD) and is currently running the 4-1/2 inch production liner which will be cemented. The rig will then skid to Bootleg 6-14-15TFH well to drill the surface, intermediate and lateral well bore.

A workover rig is running the rod string on Matilda Bay 2, and will then commence drilling out the sliding sleeves and will undertake the casing repair job on Matilda Bay 1. Following this workover the fracture stimulation program will be completed.

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

* Wells have yet to be elected by Samson and therefore are subject to change.

Hawk Springs Project - Goshen County, Wyoming

Bluff 1-11

The working interest owners have agreed to a cased hole testing program that will test three separate zones in the Bluff well. The first zone to be tested will be the Jurassic Canyon Springs Formation, the second zone will be the Jurassic Morrison Formation, and the third zone will be the Cretaceous lower Dakota Formation.

Further consideration is being given to testing a zone in the primary target (the Permian Hartville Formation) following the discussions held in the Joint Venture partner meeting last week. A new analysis of the target zone may indicate the presence of a nitrogen gas cap. Since the well was drilled at the crest of the structural closure, it is be possible that hydrocarbons exist below or downdip of the gas cap. Samson is currently evaluating all of the data to determine the viability of this new analysis.

Rainbow Project - Williams County, North Dakota

Gladys 1-20H

The Gladys 1-20H, is a 1,280 acre lateral (approximately 10,000 feet) in the middle Bakken and is currently drilling the vertical segment of the well with Cyclone Rig 25.