Roosevelt Project (Samson 100% Working Interest in Australia II and Gretel II wells, 66% Working Interest in subsequent drilling. ~30,000 net acres leased)
Our first Bakken appraisal (exploratory) well in the Roosevelt project area on the Ft. Peck Indian Reservation was drilled in December, 2011, the Australia II well. This well was drilled to a total measured depth of 14,972 feet with the horizontal lateral remaining within the target zone for the entire lateral length. Oil and gas shows were returned during the drilling of this well. Approximately 3,425 barrels of oil have been produced from this well. It is currently shut in awaiting mechanical repairs. Our second Bakken appraisal (exploratory) well, the Gretel II, was drilled in January 2012 and fracture stimulated in March 2012. It appears that this well was drilled on the north side of the Brockton Fault zone, which is believed to be the western edge of the continuous Bakken oil. The Gretel II has produced oil, but with a high water cut. This well is currently shut in and awaiting mechanical repairs. We have currently permitted a third exploratory well in this project - the Prairie Falcon. The drilling location of this well is south of the Brockton Fault zone and is north of Continental's successful well, the Abercrombie 1-10H. A success at Continental's Mackie 1-19H well will further prove and define the sweet spot on Samson's acreage to the north of the Continental's acreage position. Samson is currently looking for a partner to help develop its acreage position.