Intrinsic value of Samson Oil&Gas ADR - SSN

Previous Close

$0.37

  Intrinsic Value

$0.06

stock screener

  Rating & Target

str. sell

-83%

  Value-price divergence*

+25%

Previous close

$0.37

 
Intrinsic value

$0.06

 
Up/down potential

-83%

 
Rating

str. sell

 
Value-price divergence*

+25%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of SSN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -23.08
  50.00
  45.50
  41.45
  37.81
  34.52
  31.57
  28.91
  26.52
  24.37
  22.43
  20.69
  19.12
  17.71
  16.44
  15.29
  14.27
  13.34
  12.50
  11.75
  11.08
  10.47
  9.92
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
Revenue, $m
  10
  15
  22
  31
  43
  57
  75
  97
  123
  153
  187
  226
  269
  316
  369
  425
  485
  550
  619
  692
  768
  849
  933
  1,021
  1,113
  1,209
  1,308
  1,411
  1,519
  1,631
  1,747
Variable operating expenses, $m
 
  60
  87
  123
  170
  229
  301
  388
  491
  611
  748
  903
  1,075
  1,266
  1,474
  1,699
  1,942
  2,201
  2,476
  2,767
  3,074
  3,396
  3,733
  4,085
  4,452
  4,834
  5,232
  5,646
  6,076
  6,523
  6,987
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  29
  60
  87
  123
  170
  229
  301
  388
  491
  611
  748
  903
  1,075
  1,266
  1,474
  1,699
  1,942
  2,201
  2,476
  2,767
  3,074
  3,396
  3,733
  4,085
  4,452
  4,834
  5,232
  5,646
  6,076
  6,523
  6,987
Operating income, $m
  -19
  -45
  -65
  -93
  -128
  -172
  -226
  -291
  -368
  -458
  -561
  -677
  -807
  -949
  -1,106
  -1,275
  -1,456
  -1,651
  -1,857
  -2,075
  -2,305
  -2,547
  -2,799
  -3,064
  -3,339
  -3,626
  -3,924
  -4,234
  -4,557
  -4,892
  -5,240
EBITDA, $m
  -19
  -38
  -55
  -78
  -108
  -145
  -191
  -246
  -311
  -386
  -473
  -571
  -680
  -801
  -932
  -1,075
  -1,228
  -1,392
  -1,566
  -1,750
  -1,944
  -2,148
  -2,361
  -2,584
  -2,816
  -3,058
  -3,309
  -3,571
  -3,843
  -4,126
  -4,419
Interest expense (income), $m
  -1
  1
  2
  3
  4
  6
  8
  11
  15
  19
  23
  28
  34
  41
  48
  56
  65
  74
  84
  95
  106
  118
  130
  143
  157
  171
  186
  201
  217
  234
  251
Earnings before tax, $m
  -13
  -46
  -67
  -96
  -132
  -178
  -234
  -302
  -383
  -477
  -584
  -706
  -841
  -990
  -1,154
  -1,331
  -1,521
  -1,725
  -1,941
  -2,170
  -2,412
  -2,665
  -2,930
  -3,207
  -3,496
  -3,797
  -4,110
  -4,436
  -4,774
  -5,126
  -5,491
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -13
  -46
  -67
  -96
  -132
  -178
  -234
  -302
  -383
  -477
  -584
  -706
  -841
  -990
  -1,154
  -1,331
  -1,521
  -1,725
  -1,941
  -2,170
  -2,412
  -2,665
  -2,930
  -3,207
  -3,496
  -3,797
  -4,110
  -4,436
  -4,774
  -5,126
  -5,491

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  52
  74
  107
  151
  209
  281
  369
  476
  602
  749
  917
  1,106
  1,318
  1,551
  1,806
  2,083
  2,380
  2,697
  3,035
  3,391
  3,767
  4,161
  4,574
  5,006
  5,456
  5,924
  6,412
  6,919
  7,446
  7,994
  8,563
Adjusted assets (=assets-cash), $m
  49
  74
  107
  151
  209
  281
  369
  476
  602
  749
  917
  1,106
  1,318
  1,551
  1,806
  2,083
  2,380
  2,697
  3,035
  3,391
  3,767
  4,161
  4,574
  5,006
  5,456
  5,924
  6,412
  6,919
  7,446
  7,994
  8,563
Revenue / Adjusted assets
  0.204
  0.203
  0.206
  0.205
  0.206
  0.203
  0.203
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
Average production assets, $m
  47
  71
  103
  145
  200
  269
  354
  456
  577
  718
  879
  1,061
  1,264
  1,487
  1,732
  1,997
  2,282
  2,586
  2,910
  3,252
  3,612
  3,990
  4,386
  4,800
  5,231
  5,680
  6,148
  6,634
  7,139
  7,664
  8,210
Working capital, $m
  -4
  8
  11
  15
  21
  29
  38
  49
  61
  76
  94
  113
  134
  158
  184
  212
  243
  275
  310
  346
  384
  424
  467
  511
  556
  604
  654
  706
  759
  815
  873
Total debt, $m
  35
  54
  84
  124
  175
  240
  319
  415
  529
  660
  811
  982
  1,172
  1,381
  1,610
  1,858
  2,125
  2,410
  2,713
  3,033
  3,371
  3,725
  4,096
  4,483
  4,887
  5,308
  5,746
  6,201
  6,674
  7,166
  7,677
Total liabilities, $m
  47
  66
  96
  136
  187
  252
  331
  427
  541
  672
  823
  994
  1,184
  1,393
  1,622
  1,870
  2,137
  2,422
  2,725
  3,045
  3,383
  3,737
  4,108
  4,495
  4,899
  5,320
  5,758
  6,213
  6,686
  7,178
  7,689
Total equity, $m
  5
  8
  11
  15
  21
  29
  38
  49
  61
  76
  94
  113
  134
  158
  184
  212
  243
  275
  310
  346
  384
  424
  467
  511
  556
  604
  654
  706
  759
  815
  873
Total liabilities and equity, $m
  52
  74
  107
  151
  208
  281
  369
  476
  602
  748
  917
  1,107
  1,318
  1,551
  1,806
  2,082
  2,380
  2,697
  3,035
  3,391
  3,767
  4,161
  4,575
  5,006
  5,455
  5,924
  6,412
  6,919
  7,445
  7,993
  8,562
Debt-to-equity ratio
  7.000
  7.200
  7.700
  8.030
  8.240
  8.380
  8.490
  8.560
  8.610
  8.650
  8.680
  8.700
  8.710
  8.730
  8.740
  8.750
  8.750
  8.760
  8.770
  8.770
  8.770
  8.780
  8.780
  8.780
  8.780
  8.780
  8.790
  8.790
  8.790
  8.790
  8.790
Adjusted equity ratio
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102
  0.102

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -13
  -46
  -67
  -96
  -132
  -178
  -234
  -302
  -383
  -477
  -584
  -706
  -841
  -990
  -1,154
  -1,331
  -1,521
  -1,725
  -1,941
  -2,170
  -2,412
  -2,665
  -2,930
  -3,207
  -3,496
  -3,797
  -4,110
  -4,436
  -4,774
  -5,126
  -5,491
Depreciation, amort., depletion, $m
  0
  7
  10
  15
  20
  27
  35
  46
  58
  72
  88
  106
  126
  149
  173
  200
  228
  259
  291
  325
  361
  399
  439
  480
  523
  568
  615
  663
  714
  766
  821
Funds from operations, $m
  3
  -39
  -57
  -81
  -112
  -151
  -199
  -257
  -325
  -405
  -496
  -599
  -715
  -842
  -981
  -1,131
  -1,293
  -1,466
  -1,651
  -1,845
  -2,050
  -2,266
  -2,491
  -2,727
  -2,973
  -3,229
  -3,495
  -3,772
  -4,060
  -4,359
  -4,670
Change in working capital, $m
  1
  3
  3
  5
  6
  7
  9
  11
  13
  15
  17
  19
  22
  24
  26
  28
  30
  32
  34
  36
  38
  40
  42
  44
  46
  48
  50
  52
  54
  56
  58
Cash from operations, $m
  2
  -42
  -61
  -86
  -118
  -158
  -208
  -268
  -338
  -420
  -513
  -619
  -736
  -866
  -1,007
  -1,159
  -1,324
  -1,499
  -1,685
  -1,882
  -2,089
  -2,306
  -2,533
  -2,771
  -3,019
  -3,277
  -3,545
  -3,824
  -4,114
  -4,415
  -4,728
Maintenance CAPEX, $m
  0
  -5
  -7
  -10
  -15
  -20
  -27
  -35
  -46
  -58
  -72
  -88
  -106
  -126
  -149
  -173
  -200
  -228
  -259
  -291
  -325
  -361
  -399
  -439
  -480
  -523
  -568
  -615
  -663
  -714
  -766
New CAPEX, $m
  -2
  -24
  -32
  -43
  -55
  -69
  -85
  -102
  -121
  -141
  -161
  -182
  -203
  -224
  -245
  -265
  -285
  -304
  -323
  -342
  -360
  -378
  -396
  -414
  -431
  -449
  -468
  -486
  -505
  -525
  -546
Cash from investing activities, $m
  -18
  -29
  -39
  -53
  -70
  -89
  -112
  -137
  -167
  -199
  -233
  -270
  -309
  -350
  -394
  -438
  -485
  -532
  -582
  -633
  -685
  -739
  -795
  -853
  -911
  -972
  -1,036
  -1,101
  -1,168
  -1,239
  -1,312
Free cash flow, $m
  -16
  -70
  -100
  -138
  -187
  -247
  -320
  -405
  -505
  -618
  -746
  -889
  -1,045
  -1,216
  -1,400
  -1,598
  -1,808
  -2,031
  -2,267
  -2,515
  -2,774
  -3,045
  -3,328
  -3,623
  -3,930
  -4,249
  -4,580
  -4,925
  -5,282
  -5,654
  -6,040
Issuance/(repayment) of debt, $m
  16
  22
  30
  40
  51
  65
  80
  96
  113
  132
  151
  170
  190
  210
  229
  248
  267
  285
  303
  320
  337
  354
  371
  387
  404
  421
  438
  455
  473
  492
  511
Issuance/(repurchase) of shares, $m
  1
  49
  71
  100
  138
  185
  243
  313
  396
  492
  601
  725
  863
  1,014
  1,180
  1,359
  1,552
  1,757
  1,976
  2,207
  2,450
  2,705
  2,972
  3,251
  3,542
  3,845
  4,160
  4,487
  4,828
  5,182
  5,549
Cash from financing (excl. dividends), $m  
  17
  71
  101
  140
  189
  250
  323
  409
  509
  624
  752
  895
  1,053
  1,224
  1,409
  1,607
  1,819
  2,042
  2,279
  2,527
  2,787
  3,059
  3,343
  3,638
  3,946
  4,266
  4,598
  4,942
  5,301
  5,674
  6,060
Total cash flow (excl. dividends), $m
  1
  1
  1
  2
  2
  3
  3
  4
  4
  5
  6
  7
  7
  8
  9
  10
  10
  11
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  18
  19
  20
Retained Cash Flow (-), $m
  12
  -49
  -71
  -100
  -138
  -185
  -243
  -313
  -396
  -492
  -601
  -725
  -863
  -1,014
  -1,180
  -1,359
  -1,552
  -1,757
  -1,976
  -2,207
  -2,450
  -2,705
  -2,972
  -3,251
  -3,542
  -3,845
  -4,160
  -4,487
  -4,828
  -5,182
  -5,549
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -48
  -70
  -99
  -136
  -183
  -240
  -310
  -391
  -487
  -595
  -718
  -855
  -1,006
  -1,171
  -1,349
  -1,541
  -1,746
  -1,964
  -2,194
  -2,437
  -2,691
  -2,958
  -3,236
  -3,526
  -3,828
  -4,143
  -4,469
  -4,809
  -5,162
  -5,529
Discount rate, %
 
  12.90
  13.55
  14.22
  14.93
  15.68
  16.46
  17.29
  18.15
  19.06
  20.01
  21.01
  22.06
  23.17
  24.32
  25.54
  26.82
  28.16
  29.57
  31.05
  32.60
  34.23
  35.94
  37.74
  39.62
  41.60
  43.68
  45.87
  48.16
  50.57
  53.10
PV of cash for distribution, $m
 
  -42
  -54
  -66
  -78
  -88
  -96
  -101
  -103
  -101
  -96
  -88
  -78
  -67
  -56
  -45
  -34
  -26
  -19
  -13
  -9
  -6
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  13.0
  1.7
  0.2
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Samson Oil & Gas Limited is an oil and gas company focused on oil production in the Niobrara and Bakken formations in the United States. The Company's principal activities are oil and gas exploration, development and production in the United States. Its geographic segments include United States of America and Other segments. All revenue from the United States of America segment is from customers based in the United States. The Other Segments revenue relates principally to interest income earned on cash balances in Australia. Its projects include Foreman Butte project, Roosevelt Project, North Stockyard Project, Rainbow Project, Hawk Springs Project, South Prairie Project and Cane Creek Project. Its Foreman Butte project includes various producing and non-producing, operated and non-operated wells in the Ratcliffe and Madison formations in Montana and North Dakota. The Company has an interest in over 3,303 acres adjacent to the North Stockyard Oil Field.

FINANCIAL RATIOS  of  Samson Oil&Gas ADR (SSN)

Valuation Ratios
P/E Ratio -8.1
Price to Sales 10.5
Price to Book 21
Price to Tangible Book
Price to Cash Flow 52.5
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -23.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -90%
Cap. Spend. - 3 Yr. Gr. Rate -34.8%
Financial Strength
Quick Ratio 0
Current Ratio 0.6
LT Debt to Equity 380%
Total Debt to Equity 700%
Interest Coverage 14
Management Effectiveness
Return On Assets -30.1%
Ret/ On Assets - 3 Yr. Avg. -33.6%
Return On Total Capital -34.2%
Ret/ On T. Cap. - 3 Yr. Avg. -38.4%
Return On Equity -118.2%
Return On Equity - 3 Yr. Avg. -75.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -140%
EBITDA Margin - 3 Yr. Avg. -147.6%
Operating Margin -190%
Oper. Margin - 3 Yr. Avg. -175.5%
Pre-Tax Margin -130%
Pre-Tax Margin - 3 Yr. Avg. -144.3%
Net Profit Margin -130%
Net Profit Margin - 3 Yr. Avg. -144.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

SSN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SSN stock intrinsic value calculation we used $10 million for the last fiscal year's total revenue generated by Samson Oil&Gas ADR. The default revenue input number comes from 2016 income statement of Samson Oil&Gas ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SSN stock valuation model: a) initial revenue growth rate of 50% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 12.9%, whose default value for SSN is calculated based on our internal credit rating of Samson Oil&Gas ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Samson Oil&Gas ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SSN stock the variable cost ratio is equal to 400%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SSN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Samson Oil&Gas ADR.

Corporate tax rate of 27% is the nominal tax rate for Samson Oil&Gas ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SSN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SSN are equal to 470%.

Life of production assets of 10 years is the average useful life of capital assets used in Samson Oil&Gas ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SSN is equal to 50%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5 million for Samson Oil&Gas ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 19.646 million for Samson Oil&Gas ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Samson Oil&Gas ADR at the current share price and the inputted number of shares is $0.0 billion.

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COMPANY NEWS

▶ When Should You Buy Samson Oil & Gas Limited (ASX:SSN)?   [Sep-20-17 01:55AM  Simply Wall St.]
▶ Samson Oil & Gas Advisory   [Sep-14-17 08:00PM  Business Wire]
▶ Samson Oil & Gas to Present at EnerCom Denver 2017   [Aug-14-17 12:00PM  Business Wire]
▶ Samson Oil & Gas Advisory   [Jun-22-17 10:00PM  Business Wire]
▶ Samson Oil & Gas Advisory   [May-30-17 09:00PM  Business Wire]
▶ Samson Oil & Gas Enters into Purchase and Sale Agreement   [May-11-17 10:00PM  Business Wire]
▶ Samson Oil & Gas to Repay Vendor Note   [May-01-17 09:00PM  Business Wire]
▶ Webcast-OGIS New York for Samson Oil & Gas Ltd.   [Mar-08-17 05:56PM  at Company Spotlight]
▶ Samson Oil & Gas to Present at Enercom Dallas 2017   [Mar-01-17 09:00PM  Business Wire]
▶ Samson Oil & Gas Announces December 31st Estimated Reserves   [Feb-15-17 10:00PM  Business Wire]
▶ Samson Oil & Gas Responds to ASX Question   [Jan-20-17 05:31PM  Business Wire]
▶ Samson Oil & Gas Debt Facility   [Nov-10-16 10:00PM  Business Wire]
▶ Samson Oil & Gas Closes North Stockyard   [Oct-30-16 08:00PM  Business Wire]
▶ Samson Oil & Gas Advises on North Stockyard Closing   [Oct-20-16 08:00PM  Business Wire]
▶ Samson Oil & Gas Advises on North Stockyard Closing   [Sep-28-16 09:00PM  Business Wire]
▶ Samson Oil & Gas Advises June 30th Reserve Estimate   [Sep-11-16 09:00PM  Business Wire]
▶ Samson Oil & Gas to Present at Enercom 2016   [Aug-14-16 10:00PM  Business Wire]
▶ Plan to Regain Compliance Accepted by NYSE MKT   [Jun-01-16 09:00PM  Business Wire]
▶ Samson Oil & Gas, NYSE MKT Listing   [Mar-15-16 08:00PM  Business Wire]
▶ December 2015 Quarterly Report and Appendix 5B   [Jan-29-16 01:24AM  at noodls]
▶ Results of General Meeting   [Jan-27-16 12:20AM  at noodls]
▶ Samson Oil & Gas Files US Proxy Statement   [Nov-25  06:00PM  Business Wire]
Financial statements of SSN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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