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SSNYY: effective Aug. 17,2020 ADR program terminated. FINRA will delete the symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Wow great prediction. You were right...it doubled....doubled DOWN.
terrible prediction
This little unknow oil and gas company has seen new people knocking on its door after the recent holidays regarding the opportunity to buy some of its territory drilling rights once again. Close friends of mine back in Texas that a new deal is being discussed where SSN stand to sell land that failed to sell last fall to a new client ~ 25-28 million is the figures being discussed. This could really put their stock back up 200% plus in days if it continues to be of interest
Lcbm68 ~ we are watching and buying slowly week by week and now holding 250,000 k
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E&Ps Building Confidence In The Gulf
Steve Toon Editor-In-Chief, Oil and Gas Investor Hart Energy Monday, September 10, 2018 - 7:00am
305 E&Ps Building Confidence In The Gulf
LLOG Exploration’s Delta House production platform is in Mississippi Canyon 254 in about 4,500 feet of water. Four operated fields are currently tied into it, and three more operated fields are expected to be tied in later this year. (Source: LLOG Exploration Co.)
[Editor's note: A version of this story appears in the September 2018 edition of Oil and Gas Investor. Subscribe to the magazine here.]
The recent downturn shuffled the deck and reduced the number of independent operators in the Gulf of Mexico during the past several years. Those that remain or dropped anchor since, however, are giddy to be there. In fact, they believe they are sitting on unprecedented opportunity.
That was the message of several opportunistic offshore players, both public and private, both shallow water and deep water, at the Louisiana Energy Conference in late May, hosted by Al Petrie Advisors. GulfSlope Energy Inc., Murphy Oil Corp. (NYSE: MUR), Deep Gulf Energy Cos., LLOG Exploration Co. and Talos Energy Inc. (NYSE: TALO), among others, touted the economics of their portfolios and strategies in the proved but now somewhat forgotten basin.
“We’re about to begin our first phase of a multiwell exploratory drilling campaign in one of the most historically prolific and economically profitable petroleum production areas in the world,” said Clint Moore, vice president and principal petroleum geologist for GulfSlope Energy. “The Gulf alone has produced over 100 billion barrels of oil to date. Our high-impact drilling portfolio has nine high-potential prospects that contain over 1 billion barrels of oil and gas of gross recoverable reserves.”
check out GSPE. drilling results close to big majors like BP, Exon in the gulf of Mex could yield it + 1000%. TXSO idem
Bought back into this stock in the past week and again today
This stick is on the move again slowly but word has it 25% gains are coming soon.
Lcbm
it's about to rocket up huge :
QUARTERLY REPORT
for the period ended 30 June 2018
Samson Oil & Gas USA
1131, 17th Street, Suite 710, Denver Colorado 80202
T: +1 303 295 0344 F: +1 303 295 1961
Samson Oil & Gas Limited
Level 16, AMP Building, 140 St Georges Terrace, Perth WA 6000
T: +618 9220 9830 F: +618 9220 9820 ABN: 25 009 069 005 ASX: SSN
0
FINANCIAL HIGHLIGHTS
- Average net production for the quarter ended 30 June 2018 was 528 barrels of oil equivalent per day, up
20% from the quarter ended 31 March 2018.
- Production from the Foreman Butte project increased from the March quarter total of 34,450 barrels of oil
(net production) to 46,348 barrels of oil for the June quarter. The increase in production is due to the
workover program Samson has put in place following the acquisition and refurbishment of its workover rig.
- The Company has acquired a workover rig and this rig has been refurbished, transported to Williston and
commenced its first workover in February. During the quarter, 7 wells have been returned to production.
These workovers have added around 93 BOPD to the projects output.
- As expected during this time in North Dakota and Montana, various roads have been closed during the
quarter for the spring thaw which impacts the Company’s ability to truck water and oil leading wells to be
shut in from time to time.
- During the quarter the Company injected 42,011 barrels of water into our Rose Waterflood. While pressure
data is being monitored, it is expected to be at least the first quarter of 2019 before any noticeable pressure
increase is detected.
Prior 12 month production by quarter:
Q3 2017 Q4 2017 Q1 2018 Q2 2018
OIL, BO 54,580 46,305 38,134 47,540
GAS, MCF 8,429* 2,637 2,067 1,647
BOE 55,94 46,744 38,478 47,815
BOEPD 623 520 427 531
* Does not include gas produced for which we have not yet received the revenue.
Estimated net production and revenue:
OIL Bbls OIL US$ GAS Mscf GAS US$ TOTAL US$
June 2018 Quarter 47,540 2,944,355 1,647 5,208 2,949,563
March 2018 Quarter 38,134 2,190,035 2,067 5,989 2,196,024
Average commodity prices:
OIL US$/Bbl GAS
US$/Mscf
June 2018 Quarter $61.93 $2.90
March 2018 Quarter $57.43 $2.90
In some cases revenue is yet to be received and is therefore an estimate.
SAMSON OIL & GAS LIMITED
June 2018 Quarterly Report
Page 2 of 8
LAND
PROJECTS 10B
Rainbow Field: Williams County, North Dakota
Mississippian Bakken Formation, Williston Basin
Gladys 1-20H
Samson 23% Working Interest
Kraken Operating, LLC, the operator of the Gladys 1-20H well, has been producing this well at an average rate
of 74 BOPD and 86 MCFPD during the quarter. There are 6 additional Bakken/Three Forks drilling locations on
this 1280 acre lease.
Foreman Butte Project: McKenzie & Williams Counties, North Dakota and Richland, Roosevelt, Sheridan
Counties, Montana
Mississippian Madison Formation, Williston Basin
Samson 87% Operated Average Working Interest
During the quarter, Samson has signed a purchase and sale agreement to sell the majority interests in this
project for a purchase price of $40 million with an effective date of 1 January 2018. The Company has convened
the shareholder meeting required to approve this transaction for 13 August 2018, with the transaction expected
to close on 18 August 2018 in line with the terms of the purchase and sale agreement. Importantly, Samson
has retained a 15% working interest in the Home Run field within this project. This field contains the majority of
the proved undeveloped locations within the greater project area. Maintaining this interest will allow Samson to
participate in the upside of the project.
The Home Run Field (also known as the Foreman Butte Field) is the largest area oil field in Samson’s portfolio.
It was developed on a 640 acre spacing pattern and our engineering and geologic analyses have determined
that only 3.2% of the original oil in place has been recovered to date. Given that oil fields can recover up to 20%
of their oil in place, there would appear to be significant un-developed oil to be recovered from this field.
Samson averaged a gross 712 BOPD from its operated wells in the Foreman Butte Project this quarter. The
production is up slightly from the previous quarter following workover operations.
LIQUIDITY
Sources of cash for the next quarter are as follows:
US$(’000’s)
Current cash on hand 1,390
Cash receipts from June quarter oil and gas sales* 1,132
TOTAL 2,522
* Estimate based on realized June quarter production and $61 oil price (indicative of estimated oil pricing),
allowing for a one month delay between production and cash receipt.
PROJECT BASIN STATE COUNTY NET ACRES
Hawk Springs DJ Wyoming Goshen 40
Roosevelt Williston Montana Roosevelt 2,230
Rainbow Williston North Dakota Williams 294
Foreman Butte Williston North
Dakota/Montana
Numerous 51,305
SAMSON OIL & GAS LIMITED
June 2018 Quarterly Report
Page 3 of 8
5B
FINANCIAL
Mutual of Omaha Credit Facility
Following the signing of the purchase and sale agreement, Mutual of Omaha have extended the Forbearance
agreement with respect to the credit facility until 24 August 2018, which will allow the transaction to close and
the loan to be repaid in full.
Foreign Exchange Rates
The closing A$:US$ exchange rate on 30 June 18 was $0.74 The average A$:US$ exchange rate for the
quarter was $0.76.
The Company’s cash position at 30 June 2018 was as follows:
US$(‘000’s)
Cash at bank on deposit 1,390
Hedging
Product Start Date End Date Volume (BO/Mmbtu) Floor $ Ceiling $
WTI 1 July 2018 31 Dec 2018 80,960 45.00 56.00
Henry Hub 1 August 2018 31 Dec 2018 50,490 2.65 2.90
As at 30 June 2018, the value of Samson’s hedging program was ($1.4 million). At 19 July 2018, the value of
Samson’s hedging program was also approximately ($0.9 million).
For and on behalf of the Board of
SAMSON OIL & GAS LIMITED
TERRY BARR
Managing Director
31 July 2018
Information contained in this report relating to hydrocarbon reserves was compiled by the Managing
Director of Samson Oil & Gas Ltd., T M Barr a Geologist who holds an Associateship in Applied
Geology and is a fellow of the Australian Institute of Mining and Metallurgy who has 30 yea
you are absolutely right , could be even more than 100%+. I ve been following this for quite some times.Already registered for PR releases from co website. Looking to take a position this week. LOOK OUT for AUGUST 6TH shareholder approval:
But do me and yourself a favor : check out TXSO
Samson Oil & Gas Refinancing
June 26, 2018 09:58 PM Eastern Daylight Time
DENVER & PERTH, Australia--(BUSINESS WIRE)--Samson Oil and Gas USA, Inc, a wholly-owned subsidiary of Samson Oil and Gas Limited (ASX:SSN and OTCQB:SSNYY), has entered into a Purchase and Sale Agreement (PSA) with Eagle Energy Partners I, LLC (Eagle) for the sale of Samson’s Foreman Butte Project located in the Williston Basin in North Dakota and Montana, effective January 1, 2018, for cash consideration of US$40 million (subject to customary adjustments).
The PSA provides for a US$1 million deposit that is fully refundable if Samson shareholders do not approve the transaction or Eagle finds title or environmental defects above a prescribed threshold, and is partially refundable if Eagle has not secured sufficient debt financing to complete the transaction.
Samson will also retain a non-operated 15% working interest in the Home Run Field, which is believed to contain the bulk of the identified upside of the project.
A shareholder meeting to seek approval for the transaction is currently planned for August 6th.
The transaction will allow Samson to retire all of its debt, meet all of its other liabilities and retain a cash balance of approximately US$6.7 million. The retention of a 15% working interest in the Home Run Field will allow Samson to participate in development of the Proved Undeveloped Reserves within the Ratcliffe Formation associated with the Home Run Field along with the Probable Reserves within the Nesson Formation in the same field. Samson has previously identified 26 well locations with the Ratcliffe Formation that could be drilled out of the existing well bores. The Nesson Formation opportunity includes 10 vertical wells in a well-defined structure which was proven to be productive from the Nesson Formation when penetrated in the Banks well, but for mechanical reasons has remained undrained.
Eagle has advised Samson that it intends to develop these opportunities, including 9 wells in the balance of 2018 and another 9 wells in 2019. Samson expects to have sufficient funding to participate in this drilling program. Samson will also be able, if it so determines, to propose and drill some of these wells for its own account pursuant to the Joint Operating Agreement to be entered into with Eagle at closing.
This stock will double by 10 August ~ sale proceedings are going ahead as planned and cash flow returns
Watch this space ~ lcbm
told you bout CEI & CYPE, look & wait for SSNYY turn
After all , i think both SSNYY and CEI are great buy now!
But the monster is going to be CYPE.
Now if you do Comparative DD with CEI ( Camber Energy ) and its price spike the last 3 days since announcing also sales of assets for 40 Mil to pay debt , you can rest assurred that SSNY is about to jolt:
CEI:
Market Cap= 46,9 mil
O/S ( very low float )=93,2mil
short interest = 16%
P/S ( Price to Sales ) = x.24 only
Now take a look @ SSNY
SSNY:
Market Cap only = 4.7 mil
O/S = 16,4
P/S =x.46
No short interest 0%
CEI price @ annoucement June 26= .26 ; june 29th =.50 with intraday .8
CEI sold assets for the same 40 Mil
SSNY sold assets or also 40, mil but has better term : it retains 15% of all production from the buyer,
Now , take look @ proven & probable reserves:
We have better share structure, but give time to into fins, will get back to you.
I urge you to DD CYPE. you will not regret it. The 1st African company to be listed on the US EX with a CEO worth 5Bil $ through a reverse merger
Great DD ..... thanks for the info.
21 June 2018
Australian Securities Exchange Limited
Level 40, Central Park
152-158 St Georges Terrace Perth WA 6000
Attention: Dale Allen
Dear Mr Allen
EXTENSION OF VOLUNTARY SUSPENSION
Further to the initial request for a voluntary suspension on 16 April 2018 and the last extension of voluntary
suspension on 7 June 2018, Samson Oil and Gas Limited (“Company”) requests a further extension of the
voluntary suspension in the trading of its securities pending the release of an announcement regarding the
sale of a significant asset.
The Company requests that its securities remain in voluntary suspension until the earlier of 8.00 am AWST
on Thursday 12 July 2018 and the release of an announcement to the market regarding the sale of a
significant asset referred to above.
The Company is not aware of any reason why the extension of voluntary suspension should not be granted.
Yours faithfully
SAMSON OIL AND GAS LIMITED
it is going way up given its latest developments:
SAMSON OIL & GAS REFINANCING
Denver June 26th, 2018, Perth June 27th 2018
Samson Oil and Gas USA, Inc, a wholly-owned subsidiary of Samson Oil and Gas Limited
(ASX:SSN and OTCQB:SSNYY), has entered into a Purchase and Sale Agreement (PSA) with
Eagle Energy Partners, I, LLC (Eagle) for the sale of Samson’s Foreman Butte Project located in
the Williston Basin in North Dakota and Montana, effective January 1, 2018, for cash consideration
of US$40 million, (subject to customary adjustments).
The PSA provides for a US$1 million deposit that is fully refundable if Samson shareholders do not
approve the transaction or Eagle finds title or environmental defects above a prescribed threshold,
and is partially refundable if Eagle has not secured sufficient debt financing to complete the
transaction.
Samson will also retain a non-operated 15% working interest in the Home Run Field, which is
believed to contain the bulk of the identified upside of the project.
A shareholder meeting to seek approval for the transaction is currently planned for August 6th
.
The transaction will allow Samson to retire all of its debt, meet all of its other liabilities and retain a
cash balance of approximately US$6.7 million. The retention of a 15% working interest in the
Home Run Field will allow Samson to participate in development of the Proved Undeveloped
Reserves within the Ratcliffe Formation associated with the Home Run Field along with the
Probable Reserves within the Nesson Formation in the same field. Samson has previously
identified 26 well locations with the Ratcliffe Formation that could be drilled out of the existing well
bores. The Nesson Formation opportunity includes 10 vertical wells in a well-defined structure
which was proven to be productive from the Nesson Formation when penetrated in the Banks well,
but for mechanical reasons has remained undrained.
Eagle has advised Samson that it intends to develop these opportunities, including 9 wells in the
balance of 2018 and another 9 wells in 2019. Samson expects to have sufficient funding to
participate in this drilling program. Samson will also be able, if it so determines, to propose and
drill some of these wells for its own account pursuant to the Joint Operating Agreement to be
entered into with Eagle at closing.
About Eagle Energy Partners
Eagle Energy Partners I LLC is a private exploration and production company that operates and
develops primarily conventional upstream assets in the Rocky Mountain region with a primary
I guess the increase in gas prices is driving this up lately????
It’s moving up step by step ~ lcbm
Yrs I agree it’s now time again to get some more stock ~ buying begins tomorrow for me ~ lcbm
Looking for 25:30% profit by may 15
bought a little at 0.25.. and hold for LOI
Well to those who listened and bought back in ~ I took my 55% gain today so that was a nice start to the year ~ thank you SNNYY
Would be great to move .75 pre-sale!!!
I’m happy to buy when the time is right even if not at the bottom.
You will miss a 30% gain if you don't get in now ~ be
I've me ~ and timing in everything $$$$$
Lcbm
I am very bullish oil & gas stocks. Looking for the next winners. I like the chances here just don't see the catalyst yet.
Watch this space and the days remaining in 2017
There are positive surprises around the corner and it's all good
Lcbm ~ fortune to be made in 2018
I think you may be a little bit to optimistic there. The stock tanked First due to failure to meet all debt service requirements. Also annual operating losses then finally the loss of the NYSE status. I can almost assure you no management team or company would want that to happen. My guess is there is a turn around play from these levels though but not sure when or if it will require structuring.
They devalued this stock beyond all other similar companies and this is only for one reason and that’s to buy back in before year end and enjoy he profits in 2018 ??????
I can agree these would be solid catalysts. But what would suggest management or the board are buying back?
Oil price continual rise through Q1-2 2018 and major buy back by directors and other major shareholders as this company is way under price ~ bargain time now for all...$$$$$
What do you feel the catalyst will be?
Look out for major buying back in coming days 50,000, 100,000 will be the norm although to January 2018
Lcbm
The ADSs will begin trading on the OTCBB on Monday November 20, 2017 under the symbol SSNYY. Samson has also made arrangements for the ADSs to trade on an OTC Markets trading platform (either OTCQB or OTCQX) once the formalities of that application process are completed.
DENVER & PERTH, Australia--(BUSINESS WIRE)-- As previously announced by the NYSE, trading of the Company’s American Depositary Shares (ADSs), each representing 200 of its ordinary shares, was suspended on November 16. The suspension was the result of a decision by an NYSE Listing Qualifications Panel to deny Samson’s request for additional time to meet the minimum shareholders’ equity requirements for continued listing of the ADSs on the NYSE American and to begin the delisting process for the ADSs by the filing of a Form 25 with the Securities and Exchange Commission.
Tough to lose the status here. May be a chance to find footing again here.
SSN delisted from the NYSE. SSN changed to SSNYY:
http://otce.finra.org/DLAdditions
Insider trading suspected ~ trading will resume tomorrow
And halted at 10:48 this morning. Not a good sign.
Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
Hoping some of you took my advice in CHK as it’s now on the move again up and up
SSM has legs but they will not sprint until early March 2018.
But 30% gains can be made by getting in early ~ and good until April 2018
It will rise but hold is my recommendation
If you have cash to spare buy CHK ~ much bigger gains to be met going forward into the end of the year ??
Broke down below 0.33$...
We could see 10 cents maybe...
I'll double down,
if it happens...
EX
Up by 20% today and SSN are now going to get stronger as oil prices climbs and cost of exploration reduces significantly ~ now is the time to get back before you miss a great opportunity to regain losses on SSN
Buy and buy now ~ Lcbm
Your doing what makes sense and now that oil price is moving up, and less oil being pumped out of the ground it's only a matter of time for thus baby to get back to .60 - .70 in spring of 2018
Hold and buy if you can before it starts to take foot again soon
This one is going to survive the tests ~ Lcbm
I am buying hand over fist...
...and if it drops below 30s I am doubling up again...
EX
Already in as much as I can risk right now. When is this supposed to happen?
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Samson Oil & Gas Limited is an Australian based oil & gas company holding extensive development and exploration acreage in the USA.
Samson is listed on the Australian Stock Exchange (ASX) and American Stock Exchange (AMEX), ticket code SSN.
Samson's business strategy is to create value by focusing on the USA energy sector and in particular exploration for and production of gas.
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