Samson Oil & Gas Announcement

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DENVER & PERTH, Australia--(BUSINESS WIRE)-- Samson Oil & Gas Limited (ASX:SSN; NYSE AMEX: SSN) announces the following investor relations trip:

Samson’s CEO, Terry Barr, will be presenting to a series of institutional investors Monday, December 12 and Tuesday, December 13 in Los Angeles, California, and in San Francisco, California on Wednesday, December 14. The presentation titled Exploring for Oil in Unconventional U.S. Plays will be available for viewing on Samson’s web site, www.samonoilandgas.com.au.

For and on behalf of the board ofSAMSON OIL & GAS LIMITED

TERRY BARRManaging Director

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 AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,996 million ordinary shares issued and outstanding (including 246 million options exercisable at AUD 1.5 cents), which would be the equivalent of 99.8 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$1.84 per ADS on December 9, 2011 the Company has a current market capitalization of approximately US$179.7 million. Correspondingly, based on the ASX closing price of A$0.091 on December 9, 2011, the Company has a current market capitalization of A$177.7 million. The options have been valued at their closing price of A$0.075 on December 9, 2011 and translated to US$ at the current exchange of 1.01 for purposes of inclusion in the US$ market capitalization calculation.

Statements made in the presentation that is available on Samson’s website 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 Company's report to the U.S. Securities and Exchange Commission on Form 10-K, which is available at www.sec.gov/edgar/searchedgar/webusers.htm.

Samson Oil & Gas LimitedTerry Barr, CEO, 303-296-3994Cell: 970-389-5047

Source: Samson Oil & Gas Limited

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