DENVER & PERTH, Australia–(BUSINESS WIRE)–Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
Sale of State GC assets
Further to the announcement made on May 8th, 2017, Samson advises that it has entered into a Purchase and Sale agreement with respect to its State GC assets in New Mexico with a private US based energy company. The sale price of these assets is $1.2 million. The sale will be effective May 1, 2017 and is expected to close on May 24th, 2017. The funds received will be used to pay down Samson’s current facility with Mutual of Omaha but will be available for redraw.