SSN 0.00% 1.5¢ samson oil & gas limited

G'day Buc. during Terry's shareholder briefing this topic was...

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    G'day Buc.

    during Terry's shareholder briefing this topic was canvassed pretty strongly. TB re-iterated that he did not foresee with full field development in Rainbow and NS would require cash raising to SH'ers. The current funding arrangements and cash flow would be sufficient.

    The model being followed was not that different from Triangle petroleum which had significantly increased revenue using an appropriate level of debt funding.

    Remember our debt funding is based on conservative guildelines. TB stated the bank was very comfortable with the metrics as was Bob Meade.

    The caveat on that statement was if there was to be full field development at Hawke Springs. In this case there would be an expected sell down and carriage (partial).

    GLTA
 
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