Samson Oil & Gas Ltd. ADR (fka SSNYY)

[MyBad]

Form 8-K for SAMSON OIL & GAS LTD

9-Oct-2013

Change in Directors or Principal Officers, Financial Statements and Exhibits


ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 3, 2013, Samson Oil & Gas Limited (the "Company") appointed Mr. Eugene McColley to the Company's Board of Directors (the "Board") effective immediately. With Mr. McColley's appointment, the size of the Board has been increased to five members, including four independent directors. Mr. McColley is an "independent director" under NYSE MKT rules and will serve on the Company's Compensation Committee.

Pursuant to the Company's constitution, the Company's shareholders will vote on whether to extend Mr. McColley's service on the Board at their annual meeting scheduled for November 2013. Neither Mr. McColley nor any related person has a direct or indirect material interest in any existing or currently proposed transaction to which the Company is or may become a party. Mr. McColley will be compensated in accordance with the Company's general policies for compensation of non-executive directors.

In connection with Mr. McColley's appointment, the Board conditionally granted him, subject to the approval of the Company's stockholders at the annual meeting, 4,000,000 options to purchase the Company's ordinary shares, having an exercise price of A$0.039 and exercisable beginning on the date of shareholder approval until the expiration date of November 30, 2017.

A press release announcing Mr. McColley's appointment is attached to this Form 8-K as Exhibit 99.1.



ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description
99.1 Press Release of Samson Oil & Gas Limited dated October 3, 2013.