Samson Oil & Gas Provides Operational Advice, Leonard #1-23H

DENVER--(BUSINESS WIRE)--Samson Oil & Gas Limited (ASX: SSN) (NYSE AMEX: SSN) advises that following the fracture stimulation of this well and the initial flow back operation, a 2 and 7/8 inch tubing string was run earlier this week and the well placed back into production. The well is flowing without artificial lift and the rate over the previous 24 hours was:

Oil		340 bopd
Gas		410 mcfpd
Water		200 bwpd

The well performance continues to improve as the stimulation fluid is recovered, which is evidenced by the increasing oil cut that is approaching the historical level of 70%. Samson has a 10% working interest in this well.

In response to this result the Operator has proposed to drill the Gene #1-22H well in the Section immediately to the west of the Leonard well. Samson has yet to approve the drilling of this well but expects that it will be participating in the well at 30.5% equity. The Operator has on contract a drilling rig and it is expected that this rig will be used and that the well will spud during December. The well will be drilled such that 7 inch casing will be set in the Bakken Formation and then a 5,500 feet horizontal section will be drilled, cased and then stimulated in several stages. As noted in our earlier advice the engineering design of this well has been able to be improved using the experienced gained in the Leonard well.

Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN." Samson's American Depository Receipts (ADRs) are traded on the American Stock Exchange under the symbol "SSN," and, each ADR represents 20 fully paid Ordinary Shares of Samson.

For and on behalf of the board of
SAMSON OIL & GAS LIMITED

TERRY BARR
Managing Director

Statements made in the presentation that is available on Samson’s website 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 Company's registration statement and report to the Securities and Exchange Commission on Form 20-F, as amended, a copy of which is available at www.sec.gov/edgar/searchedgar/webusers.htm.