Samson Oil & Gas Advises on the Gene #1-22H Well

Samson Oil & Gas advised that the Gene #1-22H as at 0600 hours CST Sunday, January 31, was drilling ahead at 10,431 feet approximately 800 feet above the primary target the Bakken Formation.

Previously the well was drilled to a depth of 10,157 feet at which a logging operation was undertaken to evaluate the secondary targets, which includes the Mission Canyon Formation.

Evaluation of the logging program suggests that 6 feet of oil pay was intersected in the Mission Canyon. This pay returned oil and gas shows and whilst it is not intended to test this zone it will be cased as designed, and be available to be produced after production from the Bakken Formation is completed.

The forward plan is to drill vertically to the kick off point at a depth of 10,757 feet, at which time the well will be deviated such that it is horizontal at a measured depth (MD) of 11,537 feet. This depth represents a true vertical depth (TVD) of 11,239 feet. At this depth, 7 inch casing will be run and cemented.

Following that operation the well will be drilled horizontally to a measured depth (MD) of 17,060 feet (TVD 11,239 feet) where a casing liner, equipped with external casing packers will be run such that the middle Bakken Formation can be fracture stimulated sequentially along the full extent of the 5,500 foot horizontal section.