Samson Agrees to Sell Roosevelt Project

Source: www.gulfoilandgas.com 6/25/2013, Location: North America

Samson Oil & Gas Limited advises that it has entered into an agreement to sell its interests in the Roosevelt Project in Montana for $13.533 million in cash, subject only to the completion of specified due diligence by the buyer.

The agreement calls for the sale of Samsonís interest in approximately 30,000 net acres, its interest in wells Australia II, Gretel II and Abercombie and the leases comprising the drill spacing units for these wells. The transaction is due to close on or before July 31st. Samson plans to deploy the cash raised by this transaction into the development of Samsonís North Dakotan, Bakken North Stockyard project.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

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