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Samson Oil & Gas Limited Message Board

  • logantrader1960 logantrader1960 Aug 13, 2013 7:42 PM Flag

    Samsons areas of production LOL

    Go to the SSN website and check this map out on page 4 of the quarterly report. Specifically look at the State GC oil field, Sabertooth Gas and Rock Springs West. Look at the large area the are showing these leases to be in. I realize these are the basins, but it looks a bit misleading / deceptive to a newbie investor. Now lets evaluate how much production is actually happening here.

    1. State GC produced 41 BOPD 27% working interest (11.07 net to Samson)
    2. Sabertooth produced 38 BOPD 9.375% working interest ( 3.56 net to Samson)
    3. Rock Springs West 9.7BOPD 100% working interest (9.7 net top Samson)

    So they show a vast area of production, but the numbers posted above are the actual production figures and at the end of the day these three leases are 24.33 BOPD net to Samson. I wonder what the lease agreement and G&A expenses are on these wells? Just another prop up of something not happening and to show the world they are in all the great producing basins.

    Production numbers posted on pages 5&6 of the quarterly report.
    Just thought I would point this out to the ill advised!

    Sentiment: Strong Sell

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