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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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November 24, 2014
20:02 EDTSSNSamson Oil & Gas provides operational update
The Bluff 1-11 well was perforated within the 9,500 sand over the interval 7,738 to 7,754 feet, and the well unloaded the completion brine almost immediately and flowed non inflammable gas at a rate of 8 MMcfpd. The rate was relatively constant during the 41 hour flow period. The well flowed on a 20 or 21/64ths inch choke at a tubing pressure of between 2,500 and 2,600 psig that increased during the flow period. No formation water was evident. Gas samples were taken and are in the process of being analyzed. The well is currently shut in for approximately 10 days whilst the pressure response is measured. The gas flow was not able to be ignited, and based on our previous samples was most likely largely nitrogen as determined from the analysis of the wire line logs. The data being collected in the near term includes the shut in pressure data, and the sample analysis. This process is expected to take three weeks after which we will have a clearer view as to the possible commercial benefit of this discovery.

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