Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
North Stockyard Sale
As previously advised Samson has executed a purchase and sale agreement
with respect to its interest in the North Stockyard Field and received a
$1 million deposit as part of the $15 million consideration. The buyer
has advised that they intend to close on October 28th.
This closing date will comply with the current conditions associated
with our Mutual of Omaha Bank debt facility.
SAMSON OIL & GAS LIMITED
Samson’s Ordinary Shares are traded on the Australian Securities
Exchange under the symbol "SSN". Samson's American Depository Shares
(ADSs) are traded on the New York Stock Exchange MKT under the symbol
"SSN". Each ADS represents 200 fully paid Ordinary Shares of Samson.
Samson has a total of 3,215 million ordinary shares issued and
outstanding (including 230 million options exercisable at AUD 3.8
cents), which would be the equivalent of 16.075 million ADSs.
Accordingly, based on the NYSE MKT closing price of US$0.616 per ADS on
October 20th, 2016, the Company has a current market capitalization of
approximately US$10.07 million (the options have been valued at an
exchange rate of 0.7671). Correspondingly, based on the ASX closing
price of A$0.004 for ordinary shares and a closing price of A$0.001 for
the 2017 options, on October 20th, 2016, the Company has a market
capitalization of approximately A$13.1 million.
Statements made in this press release that are not historical facts may
be forward looking statements, including but not limited to statements
using words like “may”, “believe”, “expect”, “anticipate”, “should” or
“will.” Actual results may differ materially from those projected in any
forward-looking statement. There are a number of important factors that
could cause actual results to differ materially from those anticipated
or estimated by any forward looking information, including uncertainties
inherent in estimating the methods, timing and results of exploration
activities. A description of the risks and uncertainties that are
generally attendant to Samson and its industry, as well as other factors
that could affect Samson’s financial results, are included in the
prospectus and prospectus supplement for its recent Rights Offering as
well as the Company's report to the U.S. Securities and Exchange
Commission on Form 10-K, which are available at www.sec.gov/edgar/searchedgar/webusers.htm.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161020006718/en/
Copyright Business Wire 2016
Source: Business Wire
(October 20, 2016 - 8:00 PM EDT)
News by QuoteMedia