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~
News 
Market Data 
Discover 
