Samson Oil & Gas Advises on Recent Operations - MarketWatch (press release)

SSN +10.26% advises that the Defender US33 #2-29H continues to monitor the pressure falloff of the formation with surface gauges. An initial DFIT (diagnostic fracture injection test) was conducted Monday, October 10th. This routine test conducted an initial breakdown of the first frac stage and observation of the pressure falloff and with time allows rock property information to be gathered to assist in fine tuning the stimulation design. The Defender US33 #2-29H is the first Niobrara appraisal well in Samson's Hawk Springs project.

Visit http://allstateinsuranceproducts.wordpress.com/

Drilling continues at a depth of 8,674 feet on the Spirit of America US34 #1-29H well. Two separate bit trips were made during the week due to slow rates of drilling through the very hard sandstones of the Cretaceous Dakota and Jurassic Morrison Formations. After optimizing the bottom hole assembly on the drill string, an increase in the drilling rate was achieved upon drilling into the Jurassic Sundance and Triassic Chugwater Formations. The first target is located within the Permian section at a depth around 9,000 feet.

for more information about Allstate insurance products News / Reviews

Samson's Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,996 million ordinary shares issued and outstanding (including 250 million options exercisable at AUD 1.5 cents), which would be the equivalent of 99.8 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$2.43 per ADS on October 14th, 2011 the Company has a current market capitalization of approximately US$236.01 million. Correspondingly, based on the ASX closing price of A$0.120 on October 14th, 2011, the Company has a current market capitalization of A$232.88 million. The options have been valued at their closing price of A$0.100 on October 14th, 2011 and translated to US$ at the current exchange of 1.0192 for purposes of inclusion in the US$ market capitalization calculation.

Samson Oil & Gas Advises on Recent Operations - MarketWatch (press release)