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Stock Market & Financial Investment News

News Breaks
May 11, 2014
21:48 EDTSSNSamson Oil & Gas announces 100% increase in proved reserve value
Samson Oil and Gas Limited advises that as at March 31st, Ryder Scott Company has estimated the company’s Proved reserves to be 1.805 MMBOE and valued at $47.7M. Probable reserves have been estimated by RSC to be 1.09 MMBOE and valued at $12.8M. Possible reserves have been estimated by RSC to be 0.80 MMBOE and valued at $7.1M. The valuations are based on a discount rate of 10% and utilize the SEC pricing model. Based on this new estimate, Samson has doubled its Proved NPV10 in the 11 month period from a NPV10 of $23.612M as at April 30th 2013, to $47.722M after accounting for production during that 11 month period.
News For SSN From The Last 14 Days
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September 30, 2014
05:08 EDTSSNSamson Oil & Gas provides operational update
Samson Oil & Gas reports 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. 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 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%. 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.
September 23, 2014
05:08 EDTSSNSamson Oil & Gas provides operational update
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September 22, 2014
07:27 EDTSSNIndependent Petroleum Association of America to hold a conference
IPAA OGIS San Francisco on September 22-24.

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