Samson Investment Company, Tulsa, Oklahoma has announced a joint venture with Prima Energy Corporation to jointly develop coal bed methane reserves on 11,600 gross acres in the Powder River Basin. Both Prima and Samson contributed acreage and existing production to the joint venture. Prima is currently initiating operations on 16 wells included in the initial-stage pilot in this area and preliminary plans for 2003 call for drilling an additional thirty coal wells. Ownership interests in the contributed assets were conformed to the joint venture sharing ratio which calls for Samson to own 40% and Prima to own 60% in the wells and leases contained in the joint venture area
