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it is going way up given its latest developments:

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klimanjaro   Sunday, 07/01/18 03:39:56 PM
Re: LCRG6215 post# 2171
Post # of 2187 
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

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