Jan 22 (Reuters) - Samson Oil And Gas Ltd SSN.AX :
* SAMSON OIL & GAS ENTERS INTO LETTER OF INTENT WITH RESPECT TO FOREMAN BUTTE PROJECT
* SAMSON OIL AND GAS - EXECUTED A NON-BINDING LOI TO SELL ITS FOREMAN BUTTE PROJECT TO FIREHAWK OIL AND GAS LLC FOR US$41.5 MILLION
* SAMSON OIL AND GAS LTD - PARTIES HAVE AGREED TO A 21-DAY EXCLUSIVITY PERIOD WITH RESPECT TO FOREMAN BUTTE PROJECT
* SAMSON OIL AND GAS LTD - COMPANY WOULD EXPECT TO EMERGE FROM THE TRANSACTION WITH A CASH BALANCE OF ABOUT US$12 MILLION
* SAMSON OIL AND GAS-ONCE COMPLETED, TRANSACTION TO LET CO'S CURRENT DEBT FACILITY WITH MUTUAL OF OMAHA BANK TO BE REPAID IN FULL WITH OTHER LIABILITIES