Samson Oil & Gas Limited provided operational advice on its current projects.

ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA

Gretel II 12KA 3 #1-30H, (SSN 100%, subject to a 33.34% backin right)

Gretel II has been drilled to a total measured depth of 15,555 feet and the liner completion has been successfully run.

The completion liner utilizes the sliding sleeve and drop ball method which will allow for a 20 stage hydraulic fracture treatment. We anticipate the hydraulic fracture operations will commence mid-March.

Australia II 12KA 6, #1-29H, (SSN 100%, subject to a 33.34% back-in right)

The hydraulic fracture stimulation operations have been concluded with a total of 1.1 million pounds of proppant being pumped. During one wire line run, the frac plug and perforating tools were separated from the wire line and left in the well.

A coil tubing unit was utilized to drill the last seven frac plugs; however, due to early sand production, the well was shut in for two days to allow the fracture to heal, and the flow rate has been reduced to ensure excessive sand does not come out of the fractures. The well will be flowed back until such time as we feel it appropriate to recover the wire line “fish” and drill out the remaining frac plugs.

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