Samson Oil & Gas Ltd. ADR (fka SSNYY)

[MyBad]

Form 8-K for SAMSON OIL & GAS LTD

5-Sep-2013

Termination of a Material Definitive Agreement


ITEM 1.02 Termination of a Material Definitive Agreement.

As previously announced, on June 21, 2013, Samson Oil & Gas Limited entered into an Asset Purchase and Sale Agreement (the "Agreement") to sell its interest in the Roosevelt Project in Montana for $13.533 million in cash. On September 4, 2013, Samson announced that the potential buyer had failed to close the transaction by the August 31, 2013, deadline provided in the amended Agreement and that Samson had terminated the Agreement.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, which was attached as Exhibit 10.1 to the Current Report on Form 8-K filed June 27, 2013, and is incorporated into this Item by reference.

A press release announcing the termination of the Agreement is attached hereto as Exhibit 99.1.

ITEM 9.01 Exhibits.

(d) Exhibits

Exhibit No. Description
99.1 Press Release dated September 4, 2013
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This was expected, nothing new here!