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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.
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