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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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October 14, 2014
05:16 EDTSSNSamson Oil & Gas reports Sept. production 7,358 BOE vs. 10,219 BOE in August
Reports September production 245 BOEPD vs. 329 BOEPD in August. Reports September oil production 5,527 BO vs. 7,791 BO in August. Reports September gas production 10,988 MCF vs. 14,569 MCF in August. The infill development drilling of North Stockyard continues with the immediate fracking of 3 Three Fork wells. Drilling operations of the easterly Three Forks wells have progressed according to plan. During the fracking operations, the field was shut in to protect the existing well bores. This shut in period is expected to be lifted late in November following the completion of the immediate fracking program. Bootleg 6 and 8 fracks have been completed. Both frack jobs were 25 stages, 3.5 million pound treatments. The Bootleg 7 frack job is underway. The Billabong 2-13-14HBK well is presently scheduled to be fracked in November and the frack will consist of 35 stages. Frontier Rig 24 is currently on the TF north pad and has drilled and completed the Ironbank 4-14-13TFH in the Three Forks formation. The rig is drilling Ironbank 5-14-13TFH where it has set the production casing at 11,655 feet and is currently drilling the lateral portion of the wellbore at 11,733 feet. The Gladys 1-20 H 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. Since the Glady’s 1-20H was turned onto production September 7th, the well has produced an average of 414 BOPD.

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