Samson Oil & Gas Announces Suspension of Trading of American Depositary Shares on NYSE American Exchange and Pending Delisting

DENVER & PERTH, Australia–(BUSINESS WIRE)–As previously announced by the NYSE, trading of the Company’s American
Depositary Shares (ADSs), each representing 200 of its ordinary shares,
was suspended on November 16. The suspension was the result of a
decision by an NYSE Listing Qualifications Panel to deny Samson’s
request for additional time to meet the minimum shareholders’ equity
requirements for continued listing of the ADSs on the NYSE American and
to begin the delisting process for the ADSs by the filing of a Form 25
with the Securities and Exchange Commission.

The ADSs will begin trading on the OTCBB on Monday November 20, 2017
under the symbol SSNYY. Samson has also made arrangements for the ADSs
to trade on an OTC Markets trading platform (either OTCQB or OTCQX) once
the formalities of that application process are completed.

SAMSON OIL & GAS LIMITED

TERRY BARR
Managing Director

Statements made in this press release that are not historical facts may
be forward looking statements, including but not limited to statements
using words like “may”, “believe”, “expect”, “anticipate”, “should” or
“will.” Actual results may differ materially from those projected in any
forward-looking statement. There are a number of important factors that
could cause actual results to differ materially from those anticipated
or estimated by any forward looking information, including the decisions
of third parties, such as regulators and financing sources. A
description of the risks and uncertainties that are generally attendant
to Samson and its industry, as well as other factors that could affect
Samson’s financial results, are included in the prospectus and
prospectus supplement for its recent Rights Offering as well as the
Company's report to the U.S. Securities and Exchange Commission on Form
10-K, which are available at www.sec.gov/edgar/searchedgar/webusers.htm.

Samson’s Ordinary Shares are traded on the Australian Securities
Exchange under the symbol "SSN". Samson's American Depository Shares
(ADSs) are expected to be traded on the OTC Markets under the symbol
"SSNYY". Each ADS represents 200 fully paid Ordinary Shares of Samson.
Samson has a total of 3,283 million ordinary shares issued and
outstanding, which would be the equivalent of 16.41 million ADSs.
Accordingly, based on the NYSE MKT closing price of US$0.36 per ADS on
November 15th, 2017, the Company has a current market
capitalization of approximately US$5.9 million. Correspondingly, based
on the ASX closing price of A$0.002 for ordinary shares on November 17th,
2017, the Company has a current market capitalization of approximately
A$6.5 million.

Contacts

Samson Oil & Gas Limited
Terry Barr, CEO, 303-296-3994
(US office)