Samson O&G Continues Leonard Development Operations
Samson Oil & Gas advised that the second half of the work over of the Leonard #1-23H has been completed using a conventional rig which successfully drilled out the remaining ball seats and cleaned out the residual frac sand.
Production tubing and a downhole pump has been run into the vertical part of the well bore and it was anticipated that pump rods would be installed and the beam pump initiated to establish a stable initial rate. However the pressure response from the clean out operation has been significant such that it has not been possible to run the pump rods with the well free flowing at 350 psig.
The plan therefore is to flow the well without artificial lift until such time as the artificial lift is required.
Samson is planning to fund 5 Proved Undeveloped locations that are adjacent to this well in which it will have various equities, with a blended average of 32.5%.
Samson's Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Receipts (ADRs) are traded on the NYSE Alternext US under the symbol "SSN", and, each ADR represents 20 fully paid Ordinary Shares of Samson.
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