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Business Description: Samson Oil & Gas Limited (SSN) is an Australian based oil and gas company holding development and exploration acreage in the USA. As at 1 July 2012, SSN determined its hydrocarbon proved reserve of 754Mbbls of oil and 1,369MMcf of gas. SSN produced 87,956 barrels of oil and 214,463 Mcf of gas for FY11.
Strategy Analysis: SSN's business strategy is to create value by exploiting its Niobrara and Bakken acreage position.
Samson Oil & Gas provided operational advice, reporting drilling operations are completed at the Roosevelt Project and the drill site has been cleared in preparation for the hydraulic fracture operations. The Company anticipates these operations to commence about 19 March. The Company also reported the Australia II 12KA 6 well has been flowed back from 8 open frac stages and there remain 5 stages that have yet to be flowed because of the perforating fish and plugs that remain in the well bore; the Abercrombie well has set and cemented 7 inch casing at 9,029 ft (MD) at the head of the lateral and the lateral is being drilled ahead at a depth of 9,624 ft; and the Defender downhole pump has been replaced and since 2 March (evening) (2.5 days) the well has produced 429 bbls of oil of which 160 bbls was pumped into the well to free the sucker rods and pump.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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