Samson Oil & Gas Ltd.

Samson Oil and Gas Ltd. has entered into an agreement with DynEvolve Capital which will see DynEvolve subscribe $1 million in equity through the issue of 4 million ADSs at US$0.25 or AU0.32 per ADS, represented as 800 million ordinary shares at AU0.00161 per share which will represent 19.6% of the company’s issued capital.

DynEvolve has also agreed to provide a short term $1 million loan which will be repaid through the issuance of a $5.5 million convertible note. The note has the ability to convert to ADSs at $0.45 (AU0.58) and would result in DynEvolve’s shareholding in Samson raising to 50%.