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SAMSON OIL & GAS Provides Operations Update

Source: www.gulfoilandgas.com 6/12/2013, Location: North America

Samson Oil & Gas Limited advises on the following operations:

South Prairie Project (Samson 25% non-operated working interest)

The first well to be drilled in the South Prairie Project, the Matson #3-1 well (located in Ward County, ND), has been delayed due to heavy rainfall over the last few weeks. The drilling contractor, CanElson USA, was scheduled to mobilize the rig to the well site on June 10th but has now been delayed to June 20th

The Matson #3-1 well will be drilled to a total depth of 4,900 feet to test a 420 acre 4-way structural closure in the Glenburn zone of the Mississippian Mission Canyon Formation. The Glenburn zone has produced over 2.5 million barrels of oil just 2 miles to the northeast from a similar type of trap at South Glenburn Field.

North Stockyard (Samson operated North Tier – Working Interest 52%)

The Sail and Anchor 3-13-14 HBK (Horizontal Bakken) well, as reported last week, side-tracked at 13,400 feet which was successfully achieved. After the side tracking of the well, drilling operations proceeded after replacing the conventional steerable tools and the current measured depth is 17,350 feet (MD). Forward plan is to drill to a total depth is approximately 18,100 feet (MD) and then run the production liner.

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