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."