Samson Oil & Gas Plans To Sell Roosevelt Project

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
14MM
Description

Agreed to sell its interests in the Roosevelt Project.

Samson Oil & Gas Ltd. (NYSE: SSN) entered into an agreement to sell its interests in the Roosevelt Project in Montana for US $13.533 million in cash to an undisclosed buyer.

The agreement calls for the sale of Samson’s interest in 30,000 net acres, its interest in wells Australia II, Gretel II and Abercombie, and the leases comprising the drill spacing units for these wells. The transaction is due to close on or before July 31.

Samson plans to deploy the cash raised by this transaction into the development of Samson’s Bakken North Stockyard project in North Dakota.

Samson Oil & Gas Ltd. is an independent energy company engaged in the acquisition, exploration, exploitation, and development of oil and natural gas properties in the US. The company is based in Perth, Australia, and has an operations office in Denver.