Samson Oil & Gas Refinancing

DENVER & PERTH, Australia–(BUSINESS WIRE)–Samson Oil and Gas Limited (SSN, ASX and SSNYY, OTC) has entered into an
agreement with DynEvolve Capital which will see DynEvolve subscribe US$1
million in equity through the issue of 4,000,000 ADSs at US$0.25 or
A$0.32 per ADS, represented as 800,000,000 ordinary shares at A$0.00161
per share which will represent 19.6% of the company’s issued capital.
The issue will be completed within the Company's capacity pursuant to
ASX Listing Rules 7.1A (as to 328,300,044 shares) and 7.1 (as to
471,699,956 shares) and in accordance with Section 708 of the
Corporations Act 2001. Funds raised by the issue will be used for a work
over program within the Company's Foreman Butte Project.

DynEvolve has also agreed to provide a short term US$1 million loan
which will be repaid through the issuance of a US$5.5 million
convertible note. The note has the ability to convert to ADSs at US$0.45
(A$0.580) and would result in DynEvolve’s shareholding in Samson raising
to 50%. The convertible note will require shareholder approval and a
shareholder meeting for this purpose is being planned towards the end of
May.

DynEvolve Capital is a bespoke private equity firm in the lower
middle-market based in Austin, Texas. Founded in 2016, DynEvolve’s
principals have over 50 years combined experience in private equity.
They are activist managers and investors in domestic energy E&P,
multi-family real estate, and federally chartered community banking.

DynEvolve’s principals Patrick Duke and Wolfgang Niedert view this
investment as a strategic opportunity to deploy capital in a Company
that has not been able to realize its potential due to a lack of capital.

Patrick Duke commented, “Samson has acquired a first-class conventional
asset in the Williston Basin. We at DynEvolve Capital realize the
potential of this asset, and that our capital will allow Samson to fully
develop the Foreman Butte project. We are excited to become a strategic
partner and shareholder of Samson Oil and Gas.”

Samson’s Ordinary Shares are traded on the Australian Securities
Exchange under the symbol "SSN." Samson's American Depository Shares
(ADSs) are 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 16.5 million ADSs. Accordingly, based on the OTC Pink
closing price of US$0.175 per ADS on March 29th, 2018, the
Company has a current market capitalization of approximately US$2.8
million. Correspondingly, based on the ASX closing price of A$0.001 for
ordinary shares, on March 29th, 2018, the Company has a
current market capitalization of approximately A$3.2 million.

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 risks
that the anticipated sales transaction will not close or that the
purchase price will be materially reduced on account of potential
liabilities uncovered during due diligence as well as uncertainties
inherent in estimating the methods, timing and results of exploration
activities. 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.

Contacts

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