Samson Oil & Gas Advises on North Stockyard Closing
21 October 2016 - 11:00AM
Business Wire
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
North Stockyard Sale
As previously advised Samson has executed a purchase and sale
agreement with respect to its interest in the North Stockyard Field
and received a $1 million deposit as part of the $15 million
consideration. The buyer has advised that they intend to close on
October 28th.
This closing date will comply with the current conditions
associated with our Mutual of Omaha Bank debt facility.
SAMSON OIL & GAS LIMITED
TERRY BARRManaging Director
Samson’s Ordinary Shares are traded on the Australian Securities
Exchange under the symbol "SSN". Samson's American Depository
Shares (ADSs) are traded on the New York Stock Exchange MKT under
the symbol "SSN". Each ADS represents 200 fully paid Ordinary
Shares of Samson. Samson has a total of 3,215 million ordinary
shares issued and outstanding (including 230 million options
exercisable at AUD 3.8 cents), which would be the equivalent of
16.075 million ADSs. Accordingly, based on the NYSE MKT closing
price of US$0.616 per ADS on October 20th, 2016, the Company has a
current market capitalization of approximately US$10.07 million
(the options have been valued at an exchange rate of 0.7671).
Correspondingly, based on the ASX closing price of A$0.004 for
ordinary shares and a closing price of A$0.001 for the 2017
options, on October 20th, 2016, the Company has a market
capitalization of approximately A$13.1 million.
Statements made in this press release that are not historical
facts may be forward looking statements, including but not limited
to statements using words like “may”, “believe”, “expect”,
“anticipate”, “should” or “will.” Actual results may differ
materially from those projected in any forward-looking statement.
There are a number of important factors that could cause actual
results to differ materially from those anticipated or estimated by
any forward looking information, including uncertainties inherent
in estimating the methods, timing and results of exploration
activities. A description of the risks and uncertainties that are
generally attendant to Samson and its industry, as well as other
factors that could affect Samson’s financial results, are included
in the prospectus and prospectus supplement for its recent Rights
Offering as well as the Company's report to the U.S. Securities and
Exchange Commission on Form 10-K, which are available at
www.sec.gov/edgar/searchedgar/webusers.htm.
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Samson Oil & Gas LimitedTerry Barr, CEO303-296-3994 (US
office)