Samson Oil & Gas Provides Operational Advice on Sabretoothadmin
Monday, August 25th 2008
On the 24th of August at 0600 hours, the Davis Bintliff #1 well was at a measured depth (MD) of 14,495 feet and drilling ahead in 6 ½ inch hole towards the final (secondary) target.
The primary sandstone target was intersected at 14,338’ MD. From the mudlog, the sandstone is approximately 70 feet thick and returned excellent gas shows over the entire 70 foot interval. This is suggestive that the entire sandstone may be productive from top to base. A 15 foot stringer sand at 14,260’ also returned excellent gas shows. Electric logs will be the final determination of the productivity of these reservoirs and will be run after the secondary target has been penetrated.
The Davis Bintliff #1 well is located in Brazoria County, in 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, in which Samson has a 12.5% working interest.
Samson Oil & Gas Limited owns working interests in a number of producing American oil and gas wells and a substantial inventory of proved and undeveloped reserves and exploration concessions located in various productive basins in central and west-central USA. Samson’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.