Gene#1-22H Drilling Ahead to Middle Bakken Formation

Samson Oil & Gas advised that the Gene #1-22H, as of 0600 hours CST Tuesday, February 9th, was drilling ahead at 14,427 feet (measured depth) within the primary target, the middle Bakken Formation. At this depth, 2,900 feet of the lateral has been drilled with 2,600 feet remaining to be drilled, with the drilling operation proceeding as planned.

Oil and gas shows are also being recorded as expected, with gas shows typically 1,400 units over a background of 450 units. Oil shows are continuous with a typical description being "abundant brown spotty to even oil stain with a fast, strong milky white cut." Not unusually oil has been noted from time to time on the shale shakers.

The forward plan is to continue to drill the well horizontally to a measured depth of 17,060 feet (true vertical depth of 11,239 feet), where a casing liner, equipped with external casing packers, will be run so that the middle Bakken Formation can be fracture stimulated sequentially along the full extent of the 5,500 foot horizontal section.