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Samson Oil & Gas pays off debt facility advises on operations
Wednesday, Jun 01, 2011

Samson Oil & Gas restricted (ASX: SSN)(NYSE AMEX: SSN):

DEBT FACILITY

Samson Oil & Gas restricted (ASX: SSN, stock market AMEX: SSN) advises that it's totally repaid its debt facility these days. when this final reimbursement of the power, that once stood at US$21 million, Samson now not has any debt on its record, and its current money balance is just about US$61.2 million. Samson holds its money and money equivalents in 3 U.S. greenback denominated bank accounts ($54.8 million) and one Australian dollar denominated account (A$6.0 million).

EVERETT #1-15H (31% operating INTEREST)

The Everett #1-15H well has reached a complete measured depth of seventeen,350 feet, as planned, and is presently learning the opening before running the four 1/2 in. production liner. This liner can alter a twenty stage fracture stimulation to be undertaken. Oil and gas shows according to the balance of the Bakken wells during this field were ascertained while drilling the ultimate a part of the lateral.

The Everett #1-15H well is found in administrative division 154N, Range 99W, Section fifteen in Williams County, ND. The Everett #1-15H well is Samson’s sixth Bakken well within the North yard Field.

EARL #1-13H (32% operating INTEREST)

As expected, the remaining compound tube was extracted from the stuck purpose and was tripped out of the opening to the vertical a part of the well bore. because the fish was moved , a marked increase within the rate was ascertained, and this rate of roughly one,200 BOPD was too high to soundly trip the balance of the tube out of the well at that point. The beat crew then stood down for the vacation weekend.

Forecasted high winds within the space have curtailed operations these days, however the forward strategy is to pump a well management fluid into the well and trip the fish out of the opening. examination of that recovery can verify consecutive step; if the whole bottom hole assembly is recovered, then the balance of the plugs can then be trained out.

The Earl #1-13H well is found in administrative division 154N, Range 99W, Section thirteen in Williams County, ND.

Source: Business Wire

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