Samson O&G Spins Bit at Ripsaw Well

Samson Oil & Gas commenced drilling operations  on the Ripsaw #1 well at 3:00 a.m. CDT March 23rd. The well is located approximately 50 miles northwest of Houston in Grimes County, Texas. The current drilling depth as of 3:00 p.m. CDT today was 1,270 feet. Surface casing will be run at an approximate depth of 1,325 feet. The surface casing will be cemented overnight and drilling operations should resume tomorrow morning. It is estimated the well will take one week to drill.

Black Creek Drilling Inc. Rig #2 will be drilling a directional well in order to properly intersect one or more Eocene-Paleocene age channel sandstones. Several of these channel sandstones have been identified seismically, similar to Ripsaw, and known to be gas productive in offsetting wells. the potential resource for the Ripsaw #1 well is estimated to be approximately one billion cubic feet of gas equivalent.