BRIEF-Samson Oil & Gas Enters Letter Of Intent With Respect To Foreman Butte Project

Jan 22 (Reuters) – Samson Oil And Gas Ltd:

* SAMSON OIL & GAS ENTERS INTO LETTER OF INTENT WITH RESPECT TO FOREMAN BUTTE PROJECT

* SAMSON OIL AND GAS – EXECUTED A NON-BINDING LOI TO SELL ITS FOREMAN BUTTE PROJECT TO FIREHAWK OIL AND GAS LLC FOR US$41.5 MILLION

* SAMSON OIL AND GAS LTD – PARTIES HAVE AGREED TO A 21-DAY EXCLUSIVITY PERIOD WITH RESPECT TO FOREMAN BUTTE PROJECT

* SAMSON OIL AND GAS LTD – COMPANY WOULD EXPECT TO EMERGE FROM THE TRANSACTION WITH A CASH BALANCE OF ABOUT US$12 MILLION

* SAMSON OIL AND GAS-ONCE COMPLETED, TRANSACTION TO LET CO‘S CURRENT DEBT FACILITY WITH MUTUAL OF OMAHA BANK TO BE REPAID IN FULL WITH OTHER LIABILITIES Source text for Eikon: Further company coverage:



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