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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (42327)4/19/2011 8:30:54 PM
From: E_K_S  Read Replies (1) of 78595
 
Re: Samson Oil & Gas Limited (SSN)

This is what I have been waiting for.

Samson O&G Updates Ops at North Stockyard Oilfield
Samson O&G Ltd. - Tuesday, April 19, 2011

Samson O&G advised on the three active wells in the North Stockyard Oilfield.
rigzone.com

The Earl #1-13H has been under flow back since April 13th but the 19 frac plugs have yet to be drilled out. The flow rates will be published later this week when the plugs are expected to be removed. A work over rig is already being mobilized to the Earl well site, and is presently expected to initiate the plug drill out either late Tuesday or Wednesday of this week.

After completing the drill out of the Earl well, the work over rig will move to the Rodney #1-14H location and conduct the drill out of the plugs in that well.

Separately, the drilling rig that is to drill the Everett #1-15H well is currently being mobilized to the well site. The rig move is being hampered by poor weather conditions and the spring thaw of the well sites. Upon completion of the mobilization, the rig owner is planning to undertake repairs to the rig before commencing drilling, so the spud is currently expected to occur the last week of April.

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If positive flow rate, these three new wells should add additional value to the company.

EKS
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