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Samson spends A$16.5m on US wells

A subsidiary of ASX-listed Samson Oil & Gas would pay A$16.5-million to acquire a parcel of oil and gas leases, which included producing oil and gas wells, shut-in wells and associated facilities in North Dekota and Montana.

The properties currently produce some 720 barrels of oil a day, from 41 net producing wells, with the properties estimated to contain a proven reserve of 8.5-million barrels as of October last year.