Samson Oil & Gas Limiteds Operational Advice on Sabretooth

Samson Oil & Gas Limiteds Operational Advice on Sabretooth

As of today at 0600 hours, the Davis Bintliff #1 is at a current measured depth of 12,263 feet on the 34th day of drilling operations. The rig is undertaking a wiper trip in preparation to run open hole logs and subsequent to this operation, 9 5/8” casing. Currently, operations are on schedule and meeting the cost and timing requirements expected by the Company.

Additional drilling will occur via an 8 ½” hole in which a 7 5/8” drilling liner will be cemented at a measured depth of 14,305 feet (13,250 feet true vertical depth). This liner is estimated to be cemented on approximately day 49 of drilling operations – August 6, 2008.

The final drill hole will be 6 ½” in size in which 5” production casing will be cemented at a measured depth of 15,655 feet (14,600 feet true vertical depth). This casing is estimated to be cemented on approximately day 64 of drilling operations – August 23, 2008.

The Davis Bintliff #1 well is located in Brazoria County, Texas, onshore Gulf Coast producing region. The prospect was delineated by a comprehensive 3D seismic grid, which resulted in a significant off-setting gas/condensate discovery with an amplitude response identical to that observed at the Davis Bintliff #1. The proposed well has an estimated contingent recoverable volume of 25 Bcfe. Samson has a 12.5% working interest in the well. amson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol “SSN.” Samson’s American Depository Receipts are traded on the American Stock Exchange under the symbol “SSN,” and each ADR represents 20 fully paid Ordinary Shares of Samson.

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