DENVER & PERTH, Australia–(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
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 atwww.sec.gov/edgar/searchedgar/webusers.htm.
Samson Oil & Gas Limited
Terry Barr, CEO
303-296-3994 (US office)
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