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Are you still hanging in there Imp?
CPSZ has certainly decided to go thru with the r/s, even tho they couldn't produce the Aud/fins. I'm a bit P/O'd about the mess. I would have rather seen them build up the pps up before they r/s'd it. I know in the long run, I'll still be $$$s ahead on this st0ck, but lets face it, not as far as I (we) would have been with say, .25 pps X our current shreholdings. SUCKS!
MB
They always do a nice job on that, you can go back and look at prior presentations, to find they are all very similar, except that the pertinent info is updated for each one.
Looking for a green close for the week!
GO SSN!
August 2013 SSN presentation:
view SSN presentation here
Yeah Stu, I usually go thru SSN's power points several times... I've got some basics and abbreviations and such in the ibox over on syn city if you need a quick reference or two, it's kinda helpful for newbies on O&G.
J, I am so sorry to learn of the passing of your Hubby, my thoughts and prayers are with you.
MB
They, (Aussies), sure gave us a good finish to the week! NICE!
I'll look at that power point in the morning, over coffee.
DENVER & PERTH, Australia--(BUSINESS WIRE)--
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
As part of Samson’s broader financing plan to ensure its participation in the full development of the North Stockyard project, Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) has today agreed to divest half of its equity position in the undeveloped acreage in the North Stockyard project to Slawson Exploration Company, Inc. (SECI) and a third party for $5.562 million in cash and other consideration.
Samson has retained its full interest in currently producing wells in the field. As a consequence of the transaction Samson and Frontier have terminated the Rig 24 contract (with no penalty payment) and Slawson has contracted the rig for the ongoing development of the North Stockyard project.
The sale agreement calls for Samson to receive cash consideration of up to $5.562 million. Along with the undeveloped acreage, Samson will transfer a 25% interest in the drilled but not yet completed Billabong and Sail and Anchor wells. The cash portion of the purchase price is subject to the delivery of a useable wellbore in Billabong, valued by the agreement at $891,000, and other customary post-closing adjustments.
As a result of this transaction, Slawson will become the operator of the project going forward. Accordingly, Slawson is mobilizing the Frontier 24 rig to the Tofte 2 pad, for the drilling of two middle Bakken wells.
Slawson has indicated that it intends to pursue the 160 acre infill development of both the middle Bakken and first bench of the Three Forks. Slawson is an experienced Bakken operator that is already employing the Frontier 16 drilling rig, a sister rig to the Frontier 24, on a project south of the Missouri River.
The sale, together with Samson’s other planned financing initiatives, should allow Samson to participate fully in the development of the balance of the Bakken and Three Forks wells that are planned for its North Stockyard acreage. This development is currently expected to include a total of 6 middle Bakken wells and 7 wells in the first bench of the Three Forks.
Slawson Exploration Company, Inc. (SECI) is a privately held oil and gas exploration company founded by Donald C. Slawson in 1957. Since its inception, SECI has drilled over 3500 wells in 10 states employing advanced techniques like 2D Seis/Strat in the early 80's, Horizontal drilling in the late 80's, large scale 3D AVO in California gas basins in the 90's and record-holding staged fracs for hydrocarbon harvesting in the oil resource plays throughout the Rockies. SECI has now drilled hundreds of laterals in 14 different formations in 7 basins. Regional exploration offices are located in Denver (Northern Rockies / California), Oklahoma City (Anadarko), Houston (Gulf Coast / South Texas) and Wichita (W Kansas). As an aggressive exploration firm, SECI focuses on risk-reduction technological advantages in time-tested, prolific geologic provinces.
Coopers 2-15-14HBK and Tooheys 2-15-14HBK wells (SSN WI 27.76%)
Frontier 24 is being moved to the Tofte 2 pad and is being rigged up over the Coopers well; the forward plan is to batch drill the Coopers and Tooheys middle Bakken wells. The spud of Coopers is expected to occur on Tuesday, August 20. The well will be drilled to a depth of around 2,200 feet where surface casing will be set and then the process will be repeated for Tooheys.
Both wells will be drilled as a 6,300 ft. laterals in the middle Bakken Formation.
Sail and Anchor 1-13-14HBK well (SSN WI 25.03%)
Facilities construction for the Tofte 1 pad is expected to commence early next week following the departure of the Rig 24. The fracture stimulation of the Sail and Anchor well is then planned to commence August 30, with first sales expected around September 7.
Billabong 2-13-14HBK well (SSN WI 24.86%)
Fishing operations to retrieve the drill pipe have been temporarily halted as the Frontier 24 rig is being moved to the Tofte 2 pad. The work over of Billabong to attempt to recover the remaining drill pipe will be undertaken by a more cost effective work over rig. While it is possible that the drill pipe will not be recovered and the wellbore therefore incapable of production, Samson believes based on expert advice, that it can remove the entire stuck drill pipe to make the well suitable for fracture stimulation and production. The work over operation on Billabong will commence following the fracture stimulation and flow back of the Sail and Anchor well.
ROOSEVELT SALE
As previously advised, the intended buyer of Samson’s Roosevelt acreage failed to close on the transaction by July 31, 2013, and Samson terminated the arrangement. The buyer has today advised Samson that the necessary funds have been allocated to the transaction and has proposed closing the transaction on the same terms as were originally proposed on or before August 31, 2013. The buyer has provided a letter from a third party’s bank confirming the availability of the funds and their allocation to the buyer. Based on the foregoing, Samson has informed the buyer that, if the funds are tendered by August 31, it will proceed with the sale transaction as originally contemplated and will raise $13.533 million.
RAINBOW PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Preparations have commenced to permit the first two wells in the project. These preparations include reaching a preliminary agreement with a surface owner for two pads which would host the first 8 wells. Physical staking of these surface locations is expected this week. Permits for two of these wells will be sought under the default spacing order and Samson’s application for an increased drilling density has been placed on the North Dakota Industrial Commission’s agenda for August. Because this spacing application appears to be in line with current industry standards, Samson expects that it will receive spacing approval for 14 for the two units, 8 middle Bakken and 6 in the first bench of the Three Forks.
Samson would expect to begin this project development with a well in each of the middle Bakken and Three Forks. The timing of this drilling will depend on negotiating a two well slot for an available drilling rig.
CORPORATE BRIEFING
Samson is undertaking several corporate briefings and the presentation being used for that purpose has been posted on the Samson website: www.samsonoilandgas.com
About Samson Oil & Gas Limited ......WOOO HOOO!
Hey ... What just happened? I figured we would coast thru tonight's ASX with no real action so I popped in a movie (and poured the 'port'). Well the movie is over and *Wooo Hooo!* I just skimmed the news and I be liking it! lol
Gonna hafta go back and read it thoroughly, but from what I see... It's all good... am I reading it right?!
UGH! pass that 'port' please...
lol
lol Stupified777... Here is the one, and ONLY, piece of knowledge that I will readily share with anyone who is in the stock market:
Remember that the 'PORT' in the word 'Portfolio' actually stands for the Wine you need to chug in order to get thru a trading day.
Yer welcome!
Enjoy your 'port'folio!
It looks like they are copying US this time....
Frog... I don't have PM, but my answer is.. "I sure the H3ll hope so! I 'm loving what UBRG did today.
Nice Close today!
LOTSA volume.... just not for CAVU!
Heh! This drops much lower and it will trigger my buy for 1/2 mil more shrs.
I'm never that lucky... so it'll probably go back up from here. lol
But get ready, cuz if you want really, really cheap shares, it'll drop even lower AFTER my buy... THAT is what my luck is!
Too Funny!
Wilma, That's an interesting thought:
On their site they mention going public with the first strike of oil in 2010. I don't think that happened obviously because they are private. UBRG is a great company for a reverse merger...IMO and would help them list without the headache.
SEC Filings for SNVP > Form 10-Q on 12-Aug-2013
read here
DENVER & PERTH, Australia--(BUSINESS WIRE)--
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) provides an advisory.
ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA
Samson previously advised that it entered into an agreement to sell its interests in the Roosevelt Project in Montana for $13.533 million in cash, but the buyer failed to close as contracted on July 31st. The buyer did not advise Samson of any title or environmental problems during or after the due diligence period. The buyer has been unable to satisfy Samson that it has the necessary financing for the purchase. Samson has therefore terminated the agreement with the buyer, allowing Samson to seek another buyer or to consider the development of the conventional potential of the acreage.
Samson continues to believe that this contiguous 45,000 acre project (of which Samson owns 30,000 acres), comprised of multitudes of individual leases, is a unique and valuable asset, given the effort required to assemble such an acreage block. Samson therefore still expects to realize substantial value from the project, through a joint development project, sale or other means.
About Samson Oil & Gas Limited ...
Yadda, yadda, yadda~
Nice bounce back to start the week with!
Nice find Lawdog! It shows that the effective date of name change is 9-2-13
DENVER & PERTH, Australia--(BUSINESS WIRE)--
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN) provides an operational advisory.
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Billabong 2-13-14HBK well
Following the completion of the lateral to its planned total depth of 17,613 feet, a 4 ½ inch production liner was run and cemented. During the cementing operation, the cement contractor’s pumping equipment broke down for a period of time, which resulted in the drill pipe being used to run the liner becoming stuck. The drill string was backed off at a free point of 8,972 feet and recovered, leaving 1,800 feet of drill pipe cemented in the hole. Fishing operations to retrieve the drill pipe are proceeding. While those operations are currently utilizing the Frontier 24 drilling rig, that rig is expected to be mobilized early next week to the Tofte 2 pad in preparation to drill the Tooheys well. From that point, fishing operations for any drill pipe left in the Billabong wellbore will utilize a work over rig, which is more cost effective than the drilling rig.
The Tooheys well is targeting the middle Bakken and is planned as a 6,100 foot lateral.
About Samson Oil & Gas Limited .......Yadda, yadda, yadda...
Nice find JH!
That works for me! eom
Why would they let someone Else's lawyer walk away with a big paycheck, when they can provide their own lawyer to do the paperwork and keep the profits right here in the USA....Hmm?
This could very well have sprung up as a result of the negotiations over coal with China.
OK Ern, let me have it... I'm ready for my spanking!
ROFL
Hence the word "GLOBAL" in their name!
Too Funny!!
I'm no Einstein, but I'm guessing that it would be MUCH easier to do business in other parts of the world if you have a company that is registered in more than 1 country... Yes?
Or am I gonna get a spanking too, for my thoughts! ....lolololol!!!
Thank you Wilma.....again!
Holding tight to my shares!
YEP!... I'm gettin ready to do my *happy dance*
I'm thinking the rest of this year could be fun!
AGREED!
Nice pr to start the week off with!
They run a bit behind like we do, (unless you sign up for real time) so don't bother looking till about 8:30.p.m.
They conveniently have a 'refresh button' right under the symbol.
Their week starts on our Sunday night and ends on our Thursday night. So it is already Monday there.
I don't worry about the bid and ask until the trading starts; I just think it's buyers trying to get in on a lower bid... HA!
Good luck to all of us!
RUN SSN, RUN!
Ready for the market to open Downunder?!?!
check SSN on the ASX here
Try this instead: RELEASE THE AUDITED FINANCIALS!
BOOM!
Then do the name change, followed (not too closely) by the rs.
Oh yeah, then......BOOM! again.
How's your Hubby doing J?
I pray all is well...
MB
Well it's Friday power hour, and we could sure use a green paint job going into the weekend!
Headline of release dated 8/1/2013 has-been-revised.
DENVER & PERTH, Australia--(BUSINESS WIRE)--
The corrected release reads:
ROOSEVELT COUNTY SALE AGREEMENT AND OPERATIONS UPDATE
Samson Oil & Gas Limited (SSN.AX)(NYSE AMEX: SSN) provides an operational advisory and advice on the status of the Roosevelt sale.
ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA
As previously advised, on June 21, 3013, Samson entered into a binding agreement to sell its interest in the Roosevelt project in Montana. The agreement required the sale to close on or before July 31st. While the Buyer did not advise Samson of any title or environmental problems during or after the due diligence period, the Buyer did not proceed to close the transaction as scheduled and has requested an extension of time until August 15, 2013. Samson has not agreed to extend the deadline for closing pending receipt of additional information from the Buyer. Absent such an extension, Samson may deliver a termination notice to the Buyer at any time after today, which was the earliest date that such a notice could be delivered under the terms of the agreement
If the currently proposed sale does not close, Samson will examine its options with respect to this acreage, including but not limited to sale of the property to another buyer or development of the conventional potential of the acreage.
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Billabong 2-13-14HBK well
The Billabong well reached a total depth of 17,613 feet on Wednesday afternoon. The lateral remained in the 18 foot target within the middle Bakken zone for its entire length and recorded oil and gas shows that are customary for a well drilled in the Bakken with a water based brine system. Samson could not report the oil and gas shows on the previously drilled Sail & Anchor 4-13-14HBK well because that lateral was drilled with an oil based mud which masked hydrocarbon shows. The gas shows in the Billabong well were measured as high as 4000 units and abundant brown oil staining was observed in the cutting samples. The well was drilled in a total of 14.9 days from the bottom of the surface casing shoe to total depth, some 2 days ahead of the time curve established from the offset Earl well.
The forward plan is to run and cement the 4½ inch production liner, after which both the Sail & Anchor and Billabong wells will be fracture stimulated contemporaneously.
--------------
And again....yadda, yadda, yadda on the final 'standard' paragraph.
SO jealous!!!
DENVER & PERTH, Australia--(BUSINESS WIRE)--
Samson Oil & Gas Limited (SSN.AX)(NYSE AMEX: SSN) provides an operational advisory and advice on the status of the Roosevelt sale.
ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA
As previously advised, on June 21, 3013, Samson entered into a binding agreement to sell its interest in the Roosevelt project in Montana. The agreement required the sale to close on or before July 31st. While the Buyer did not advise Samson of any title or environmental problems during or after the due diligence period, the Buyer did not proceed to close the transaction as scheduled and has requested an extension of time until August 15, 2013. Samson has not agreed to extend the deadline for closing pending receipt of additional information from the Buyer. Absent such an extension, Samson may deliver a termination notice to the Buyer at any time after today, which was the earliest date that such a notice could be delivered under the terms of the agreement
If the currently proposed sale does not close, Samson will examine its options with respect to this acreage, including but not limited to sale of the property to another buyer or development of the conventional potential of the acreage.
NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA
Billabong 2-13-14HBK well
The Billabong well reached a total depth of 17,613 feet on Wednesday afternoon. The lateral remained in the 18 foot target within the middle Bakken zone for its entire length and recorded oil and gas shows that are customary for a well drilled in the Bakken with a water based brine system. Samson could not report the oil and gas shows on the previously drilled Sail & Anchor 4-13-14HBK well because that lateral was drilled with an oil based mud which masked hydrocarbon shows. The gas shows in the Billabong well were measured as high as 4000 units and abundant brown oil staining was observed in the cutting samples. The well was drilled in a total of 14.9 days from the bottom of the surface casing shoe to total depth, some 2 days ahead of the time curve established from the offset Earl well.
The forward plan is to run and cement the 4½ inch production liner, after which both the Sail & Anchor and Billabong wells will be fracture stimulated contemporaneously.
About Samson Oil & Gas Limited ........YADDA, YADDA, YADDA!!!
We all know the rest. lolol
SSN is SMOKIN'!
Awesome week Rons!
SSN @ 2:10 a.m. is sitting on the ASX at:
0.044 - UP - 0.010 - 18,525,929
That's it for me... Good night!
Call it like U see it Rons...
The Aussies are on fire again tonight!