Tulsa-based Samson reports 'less than expected' results from well

Journal Record, The (Oklahoma City), Apr 9, 2007

Samson Investment Co. on Thursday reported less-than-expected drilling results on the Nome-Harder No. 1 well.

The well was drilled by Samson Lone Start LP, a subsidiary of Tulsa-based Samson Investment, in Jefferson County, Texas.

Samson had anticipated that drilling results for the Nome-Harder No. 1 well would be comparable to the results from the nearby Nome- Long. After reaching total depth and being logged, the net pay attributable to the productive zone in the Nome-Harder No. 1 well is less than originally predicted and substantially less than was found in the Nome-Long well.

Samson began a tender offer in late March to buy all outstanding shares of Denver-based PYR Energy Corp. PYR owns a 4.2-percent working interest in the Nome-Harder No. 1 well. Samson is analyzing the impact of the Nome-Harder No. 1 well on the $1.21-per-share tender offer.

Privately held Samson has oil and gas exploration and production operations in 18 states, Canada and the North Sea.