As previously announced, Samson Oil and Gas USA Inc (a wholly owned subsidiary of Samson Oil and Gas Limited) entered into a contract to acquire oil and gas leases, producing oil and gas wells, currently shut-in wells and associated facilities in North Dakota and Montana for consideration of $16.5 million.

That acquisition was due to close on February 15th but the continuing volatility in petroleum markets has prevented Samson from concluding arrangements for financing of the acquired assets with its primary lender.

Tags: Samson Oil & Gas Limited