Ann: Mako Appoints Macquarie and Acquires Further, page-43

re: Ann: Mako Appoints Macquarie and Acquires... This happened to SSN - note the dates

Im hoping were going to generate similar amount of cash from a similar amount of acres.

Probably better to read from the bottom but it looks like about 6 months from beginning to end


Denver 1700 hours June 24th, 2010, Perth 0800 hours June 25th 2010 Samson Oil & Gas Limited (ASX: SSN: NYSE AMEX: SSN) has entered into a binding agreement
with a large US-based independent natural gas and oil producer to sell 24,166 acres of its 40,240
acre holdings in Goshen County, Wyoming, for a cash purchase price presently expected to be
between US$ 61 million and US$ 79 million (pre tax).
Samson?s Goshen County holdings were acquired several years ago, reflecting the Company?s
view that the Niobrara Formation represented an oil play that could be developed using horizontal
drilling techniques. These techniques and the ability to sequentially fracture stimulate this type of
rock in the Williston Basin have rapidly improved over the last two years. As a result of the
industry?s recognition of the additional resources available by application of the improved
technology, Samson expects to see a rapid development of the Niobrara Formation as these
techniques are applied to this rock. There have already been some early successes by competitors
which have confirmed this potential and raised the profile of the oil play.




GOSHEN COUNTY STATE LEASE SALE
Denver 1800 hours May 13th, 2010
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) is actively pursuing the development ofthe Upper Cretaceous Niobrara Formation as an oil productive reservoir in Goshen County.
On May 12th, 2010 the Wyoming Office of State Lands & Investments held an oral auction for state oil & gas leases in Cheyenne, WY. Competitive bidding on these lease parcels were performed in an oral manner and priced on a per acre basis. 46 parcels located in Goshen County, where
Samson holds a considerable acreage position (40,420 net acres) in the northern Denver- Julesburg Basin, were sold in the auction. The 46 state parcels comprised 16,880 acres which sold for a total price of $33.4 million, or an average price of approximately $2,000 per acre. The
range of prices was from $500 to $3,050 per acre. The more expensive acreage was located in the deeper portion of the basin, south and on trend with Samson?s leasehold, while the less expensive acreage was located updip on the basin?s eastern flank where the Niobrara Formation is
found at shallower depths. The results of the auction confirm that the industry currently has a high
level of interest in the Niobrara Formation and suggest that the value of Samson?s acreage could
benefit from its location adjacent to the higher priced acreage in the Auction. Samson is actively in negotiations with several industry partners concerning a possible sale
transaction that would reduce its equity in its Goshen County acreage whilst retaining a significant
stake in the project

They also had this to say in the March 2010 Quarterly report.

Over the last several months, Samson has been engaged in discussions with various industry
partners with a view toward sharing a portion of the exploration expense of the project via a
farmout. These discussions have resulted in an offer to purchase a portion of Samson?s interest at
a substantial premium over Samson's original purchase price for the acreage. While Samson has
not made any final determination to sell a portion of its interest at this time, such a sale could
provide additional working capital that would then be available to drill several new wells, to pay
down debt or for other purposes. It is, however, Samson?s intent to retain a significant interest in
the project in any event.