SOURCE: The Bedford Report

The Bedford Report

August 17, 2011 08:16 ET

Margins at Samson and Northern Oil & Gas Start to Feel Squeezed

The Bedford Report Provides Stock Research on Northern Oil & Gas and Samson Oil & Gas

NEW YORK, NY--(Marketwire - Aug 17, 2011) - Oil stocks have been on the downswing this month as crude oil prices have plummeted and a report on the services industry raised new concern that the economy is faltering. The drop in prices has been particularly hard on oil producers, many of which boosted production in recent quarters in hopes of capitalizing on higher oil prices. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides equity research on Northern Oil & Gas, Inc. (NYSE Amex: NOG) and Samson Oil & Gas Limited (NYSE Amex: SSN) (ASX: SSN). Access to the full company reports can be found at:

The International Energy Agency (IEA) recently forecast threats to global economic recovery may cut oil demand growth next year by more than 60 percent, while keeping underlying forecasts for 2011 and 2012 little changed.

Greg Priddy, director of global oil at consultancy Eurasia Group, told The Wall Street Journal that "the evidence accumulating of very slow growth in the US economy and substantial demand destruction... the main risk in the crude oil market over the next quarter will be to the downside."

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Several oil producers boosted production in recent quarters, as previous economic forecasts had been much more positive. Production volumes for Northern Oil & Gas' second quarter were a quarterly record of 400,928 barrels of oil equivalent, which represents a 132 percent increase compared to the second quarter of 2010 and a 12.5 percent increase compared to the first quarter of 2011.

Samson Oil & Gas Limited owns interests in various projects located in Wyoming, North Dakota, New Mexico, and Texas. Samson Oil & Gas Limited was founded in 1980 and is headquartered in Perth, Australia. Samson currently projects that it will exit the end of the calendar year with an estimated cash balance of US$32 million.

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