7 May 2010

Company Announcements

ASX Limited

Level 4, 20 Bridge Street

Sydney  NSW  2000

SAMSON OIL & GAS LIMITED (ASX CODE: SSN) – NOTICE UNDER SECTION 708A OF THE CORPORATIONS ACT 2001 (Cth) (Act)

Samson Oil & Gas Limited (“Samson”) gives notice of the following under section 708A(5)(e) of the Act:

1. Samson issued 29,300,000 fully paid shares (Shares) on 7 May 2010 to clients of Patersons Securities Limited;

2. Samson issued the Shares without disclosure to investors under Part 6D.2 of the Act;

3. As at the date of this notice, Samson has complied with:

a)   The provisions of Chapter 2M of the Act as they apply to Samson; and

b)   Section 674 of the Act.

4. As at the date of this notice, there is no information to be disclosed that is ‘excluded information’ within the meaning of Sections 708A(7) and 708A(8) of the Act.

For and on behalf of the Board of

SAMSON OIL & GAS LIMITED

DENIS RAKICH

Company Secretary