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Saturday, August 6, 2011

SSN Reported and Posted 2Q11 Earnings and Operational Update at SSN Website

Link here.

The financial highlights:
  • Samson’s oil production increased by 63% over the prior quarter following the successful completion to two wells in the North Stockyard field.
  • Revenue increased by 57% and because of the timing of the actual receipt of cash, receipts of US$1.5million (A$1.4million) from the sale of oil and gas for the current quarter, was up 11.2% from March quarter.
  • Samson’s realized prices for both natural gas and oil increased by 5.7% and 8.0% respectively.
  • Samson has recorded a closing cash balance for the quarter of US$58.4 million (A$54.4 million).
  • During the quarter the debt facility was repaid. The company is now debt free with significant cash resources.
Repaid its debt facility: now debt-free. Production up 63%.

Links for SSN and other Bakken companies at "Earnings Central."

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