Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
Sale of State GC assets
Further to the announcement made on
May 8th, 2017, Samson advises that it has entered into a
Purchase and Sale agreement with respect to its State GC assets in New
Mexico with a private US based energy company. The sale price of these
assets is $1.2 million. The sale will be effective May 1, 2017 and is
expected to close on May 24th, 2017. The funds received will
be used to pay down Samson’s current facility with Mutual of Omaha but
will be available for redraw.
SAMSON OIL & GAS LIMITED
TERRY BARR
Managing Director
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.
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 3,283 million ordinary shares issued and
outstanding, which would be the equivalent of 16.41 million ADSs.
Accordingly, based on the NYSE MKT closing price of US$0.46 per ADS on
May 11th, 2017, the Company has a current market
capitalization of approximately US$7.5 million. Correspondingly, based
on the ASX closing price of A$0.003 for ordinary shares on May 11th,
2017, the Company has a current market capitalization of approximately
A$9.8 million.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170511006549/en/
Copyright Business Wire 2017
Source: Business Wire
(May 11, 2017 - 10:00 PM EDT)
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