Samson Oil & Gas Operational Advisory

Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):

NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA

The infill development plan for North Stockyard is to drill 10 middle Bakken wells and 8 Three Forks wells. For ease of reference, the current status of each well is set out below with separate tables for each drill pad:

COMMENTARY

Preparations have been completed for the fracture stimulation of the Blackdog 3-13-14H well, which is scheduled for tomorrow.

All of the Tofte 2 pad wells are now flowing into the pad production facilities.

Frontier 24 has completed its rig move to the Matilda Bay pad and has spud Matilda Bay 2-15-H.

Sail and Anchor is flowing ahead of the Blackdog frac and will be subject of a coil tubing clean out in conjunction with the Blackdog frac.

The Rennerfeldt #1 and 2 wells are scheduled to commence fracking on March 22nd and are currently undergoing wireline operations in preparation of that activity.

Samson’s working interest and its net revenue interest is set out in the following table:

* Wells have yet to be elected by Samson and therefore are subject to change.

Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange MKT under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 2,547 million ordinary shares issued and outstanding (including 230 million options exercisable at AUD 3.8 cents), which would be the equivalent of 127.35 million ADSs. Accordingly, based on the NYSE MKT closing price of US$0.50 per ADS on March 10th, 2014 the Company has a current market capitalization of approximately US$66.20 million (the options have been valued at an exchange rate of 0.9037). Correspondingly, based on the ASX closing price of A$0.024 for ordinary shares and a closing price of A$0.011 for the 2017 options, on March 10th, 2014, the Company has a current market capitalization of approximately A$63.88 million.

SAMSON OIL & GAS LIMITED

TERRY BARR
Managing Director

Statements made in this press release that are not historical facts may be forward-looking statements, including but not limited to statements using words like “may,” “believe,” “expect,” “anticipate,” “should” or “will.”

Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward-looking information, including uncertainties inherent in estimating the methods, timing and results of exploration activities. A description of the risks and uncertainties that are generally attendant to Samson and its industry, as well as other factors that could affect Samson’s financial results, are included in the prospectus and prospectus supplement for its recent Rights Offering as well as the Company's report to the U.S. Securities and Exchange Commission on Form 10-K, which are available at www.sec.gov/edgar/searchedgar/webusers.htm.