Samson Oil & Gas Ltd.

Samson Oil & Gas Ltd. has retained Meagher Oil & Gas Properties Inc. to sale certain nonoperated interests and undeveloped acreage in North Dakota, Wyoming and Texas. The North Dakota package includes a 32% working interest (76.5% gross revenue interest) in approximately 3,350 gross acres adjacent to North Stockyard Oil Field in Williams County. Estimated proved reserves are 559,600 barrels of oil equivalent (512,000 barrels probable). Projected net production for April is 29.3 barrels of oil equivalent per day. Projected cash flow is $29,496. Productive reservoirs include the Bluell and Bakken formations with an opportunity to form a unit over the entire area as all leases are fee leases. The Wyoming package includes a 21% working interest (80% gross net revenue interest plus overriding royalty interest) in a 640-acre federal lease covering all of Section 23-T28N-R109W in Jonah Field, Sublette County. Estimated proved reserves are 6.15 billion cubic feet equivalent. Projected April net production is 604,000 cubic feet equivalent. Projected cash flow is $44,589. Six low-risk proved undeveloped locations have been identified with additional potential for development on 10-acre spacing. Also in Wyoming, the Lookout Wash Field in Carbon County involves estimated proved reserves of 5.41 billion cubic feet equivalent. Projected April net production is 871,000 cubic feet equivalent and projected cash flow is $68,266. Nine proved undeveloped locations have been identified. The Sabretooth Prospect in Texas includes a 12.5% working interest (72% gross net revenue interest) in 340 acres lease in Brazoria County. Estimated proved reserves are 660 million cubic feet equivalent (520 million probable). Projected April net production is 380,000 cubic feet equivalent and projected net cash flow is $67,638. One probable location has been identified. The bid due date is May 15. The effective date is April 1. The closing is expected by June 19. Contact Julia Foster, 303-721-6354, ext. 229.