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Samson Wraps Up Drilling Lateral of Ironbank Well; Preps Follow-Up

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Samson Oil & Gas Limited has reported an update on three of its Bakken/Three Forks projects.

North Stockyard Project - Williams County, North Dakota

The Ironbank 4-14-13TFH has completed drilling the lateral and has set and cemented the production liner in the Three Forks Formation bench 1. Rig time on this well totaled 20.75 days which compares favorably with the prior 5 TF1 wells which averaged 21.75 days spud to rig release. The Frontier 24 rig is currently being skidded to the Ironbank 5-14-13H location.

The Bootleg 4 and 5 wells continue to flow at rates exceeding 500 BOPD.

Fracture Stimulation Program

Four north Stockyard wells are scheduled to be fracked in the near term beginning with Bootleg 7 which is expected to commence tomorrow and will be followed by the balance of the wells that are complete in the western half of the field as set out in the following table:

Rainbow Project - Williams County, North Dakota

Gladys 1-20H (SSN 23%)

The Gladys 1-20H 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.

As expected the water cut from this well is decreasing and has shown a trend that started in the 80% range and is now around 60%.

Hawk Springs Project - Goshen County, Wyoming

Bluff 1-11 (SSN 25%)

Samson has contracted True Drilling Rig #26, which is expected to be mobilized to the Bluff 1-11 well on or around October 9th. The forward plan for this well will be to drill out a temporary plug and set a liner across the Permian 9,500 sand which will then enable a flow test to be undertaken. This test is aimed at establishing a flow rate and enable a detailed gas analysis to be undertaken. The test will also include a shut-in period which can be used to establish whether a gas-oil contact exist below the current intersection.