14 May 2014director interest notice● Neutral
Samson Oil & Gas LTD director Eugene C Mccolley sold 30,000 shares at $0.32.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 May 2014quarterly activities report▼ Bad
Samson Oil & Gas LTD reported quarterly revenue of $3.1 million and a net loss of $381 thousand for the period ended 2014-03-31.
9 May 2014director interest notice● Neutral
Samson Oil & Gas LTD director Eugene C Mccolley sold 40,000 shares.
8 May 2014director interest notice● Neutral
Samson Oil & Gas LTD director Eugene C Mccolley sold 60,270 shares.
30 Apr 2014quarterly activities report▼ Bad
Samson Oil & Gas LTD reported quarterly revenue of $3.1 million and a net loss of $381 thousand for the period ended 2014-03-31.
17 Apr 2014securities registration● Neutral
Samson Oil & Gas LTD filed a prospectus supplement for an offering off its existing shelf.
17 Apr 2014material agreement● NeutralMajor
Samson placed 290,110,820 shares plus 87,033,246 warrants (A$0.033, expiring 30 April 2018) with US and Australian investors at A$0.02 per share, raising US$5,439,578 gross before placement agent fees. The press release says proceeds go to four planned North Stockyard Three Forks wells and working capital, and that together with further draws on the Mutual of Omaha facility this is expected to fund plans for the rest of 2014 and into 2015. It is another round of dilution after the 2013 raisings, at a lower price than the August 2013 placement (A$0.025).
15 Apr 2014securities registration● Neutral
Samson Oil & Gas LTD filed a prospectus supplement for an offering off its existing shelf.
6 Mar 2014material agreement▲ GoodMajor
Samson's Montana subsidiary agreed a farmout with Fort Peck Energy Company and Momentus Energy: Momentus can earn a 50% working interest in the farmout lands by acquiring about 20 square miles of 3D seismic (projected cost about $1.2 million) and drilling a horizontal test well of at least 4,900 feet. Momentus can also earn 50% of the Australia II and/or Gretel II wells and surrounding acreage by completing a workover programme. The filing does not say whether the lands are the Roosevelt acreage; that would be an inference, and it would fit with Samson's search for a development partner after the sale fell through.
10 Feb 2014quarterly activities report▼ Bad
Samson Oil & Gas LTD reported quarterly revenue of $1.4 million and a net loss of $1.4 million for the period ended 2013-12-31.
31 Jan 2014debt financing● NeutralMajor
Samson's US subsidiary signed a $25 million secured loan facility with Mutual of Omaha Bank, with an initial borrowing base of $8.0 million, maturing 27 January 2017; Samson Oil & Gas Ltd and its Montana subsidiary are guarantors. $4 million was drawn immediately and the other $4 million is to follow once a hedging programme is in place; proceeds are funding the North Stockyard drilling programme. This is Samson's first debt facility in the history so far, and it adds debt on top of the 2013 equity raisings. Interest is LIBOR plus 3.75%, and covenants restrict extra debt, liens, asset sales and mergers.
31 Jan 2014director interest notice● Neutral
Samson Oil & Gas LTD director Eugene C Mccolley received a stock option grant for 4,000,000 shares.
8 Nov 2013quarterly activities report● Neutral
Samson Oil & Gas LTD reported quarterly revenue of $3.9 million and net income of $859 thousand for the period ended 2013-09-30.
31 Oct 2013quarterly activities report● Neutral
Samson Oil & Gas LTD reported quarterly revenue of $3.9 million and net income of $859 thousand for the period ended 2013-09-30.
16 Oct 2013agm notice● Neutral
Samson Oil & Gas LTD shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
9 Oct 2013director interest notice● Neutral
Eugene C Mccolley became a Samson Oil & Gas LTD director and company insider (initial ownership filing).
16 Sept 2013late filing notice▼ Bad
Samson Oil & Gas LTD notified the SEC that its annual report would be filed late.
5 Sept 2013material agreement termination▼ BadMajor
Samson terminated the Roosevelt sale agreement for a second time after the buyer failed to close by the extended 31 August 2013 deadline, even though Samson says the buyer had shown evidence of funds. Samson says it is exploring other alternatives and still expects to realise substantial value from the 30,000 owned acres. This ends the $13.533 million sale first agreed in June, and the Roosevelt acreage remains with Samson.
22 Aug 2013securities registration● Neutral
Samson Oil & Gas LTD filed a prospectus supplement for an offering off its existing shelf.
22 Aug 2013material agreement● NeutralMajor
Samson placed 318,452,166 shares and 127,380,866 warrants (exercisable at A$0.038 until 31 March 2017) with investors in the US and Australia at A$0.025 per share, raising US$7.3 million gross before about US$670,000 of estimated fees and expenses. The filing also records a trading halt on the ASX and NYSE MKT ahead of the announcement and an Australian supplementary prospectus lodged on 19 August. This is a second round of equity raising following the March and April placements and the rights offering, and further dilutes existing holders.
20 Aug 2013securities registration● Neutral
Samson Oil & Gas LTD filed a prospectus supplement for an offering off its existing shelf.
16 Aug 2013material agreement● NeutralMajor
Samson agreed to sell half of its equity in the undeveloped North Stockyard acreage, plus a 25% interest in the drilled but not completed Billabong and Sail and Anchor wells, to Slawson Exploration and a third party for $5.562 million in cash and other consideration. Slawson becomes operator, and Samson keeps its full interest in the currently producing wells. Separately, Samson amended the Roosevelt sale agreement to extend closing to 31 August 2013 after the same buyer proposed closing on the original terms. This partly reverses the 12 August termination. Samson may talk to other buyers meanwhile but cannot complete an alternative sale before that date.
13 Aug 2013material agreement termination▼ BadMajor
Samson terminated the $13.533 million Roosevelt sale agreement after the buyer missed the 31 July 2013 closing deadline and then asked for more time to 15 August. The press release says the buyer had not satisfied Samson that it had the financing. Samson says it still believes the 30,000-acre Roosevelt position is valuable and may seek another buyer or look at developing it. This reverses the June sale and means the expected cash did not arrive.
1 Aug 2013quarterly activities report▼ Bad
Samson Oil & Gas LTD reported quarterly revenue of $1.6 million and a net loss of $1.9 million for the period ended 2013-06-30.
27 June 2013material agreement▲ GoodMajor
Samson agreed to sell its interests in the Roosevelt Project in Montana (about 30,000 net acres plus the Australia II, Gretel II and Abercombie 1-10H wells) for $13.533 million in cash. The sale depends on the buyer completing due diligence and is expected to close on or before 31 July 2013. The filing does not name the buyer or say how the cash would be used.
24 May 2013securities registration● Neutral
Samson Oil & Gas LTD filed a free-writing prospectus - marketing material for an offering in progress.
15 May 2013securities registration● Neutral
Samson Oil & Gas LTD filed a free-writing prospectus - marketing material for an offering in progress.
10 May 2013quarterly activities report▼ Bad
Samson Oil & Gas LTD reported quarterly revenue of $1.2 million and a net loss of $8.9 million for the period ended 2013-03-31.
6 May 2013securities registration● Neutral
Samson Oil & Gas LTD filed a free-writing prospectus - marketing material for an offering in progress.
1 May 2013quarterly activities report▼ Bad
Samson Oil & Gas LTD reported quarterly revenue of $1.2 million and a net loss of $8.9 million for the period ended 2013-03-31.