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Mosman Oil and Gas Limited (MSMN) – Amadeus Basin Permit EP 145

Amadeus Basin Permit EP 145

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, advises that the airborne gravity and gradiometry survey over EP 145, in the Amadeus Basin in the Northern Territory of Australia has now been approved by the relevant Government Department.

The contractor for the data acquisition has advised that there is one job currently being completed and that work at EP 145 should commence in the week commencing 5 July 2021.

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside is now considered to be in the public domain.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James / Joe Pederzolli

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

Mosman Oil & Gas #MSMN – Falcon-1 Production Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on the Falcon-1 well and the Stanley Project in East Texas, USA.

Falcon-1 (Mosman 50% working interest)

The Falcon-1 well was recompleted in a new zone last week and Mosman now confirms that the Falcon-1 well is producing gas and oil with no reported water. The flow is intentionally restricted with a 5/64 choke well to monitor the well performance. The production rate with this choke is c600 mmbtu/day (c105 boepd) and the well has been operating at this level since 12 June. Whilst this gas and oil production rate is similar to the recent production rate in the lower zone, the profit margin will be greater as operating costs will be reduced due to lower water disposal costs.

Production from this zone also verifies the wireline log interpretation of multiple hydrocarbon bearing zones in this well. This will enable an update of the geological model of this lease and the adjacent Galaxie lease.

Stanley (Mosman 15-19% working interest)

The Operator has advised that hot oil treatment of the surface pipeline was successful and enabled an increase in gross production from Stanley-3 from 40 to 65 bopd.

The Operator has also advised that Stanley-4 will be back on production this week. The decision has also been made to gravel pack Stanley-1 for sand control, in order to produce the well without needing workovers to remove sand from the wellbore or pumping equipment, and this well should also be back on production in the near future. 

Qualified Person’s Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.comacarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

Updates on the Company’s activities are regularly posted on its website:

www.mosmanoilandgas.com

Mosman Oil & Gas #MSMN Raises AU$192,000 in Warrant Exercise

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces that  it has received notification to exercise warrants over a total of 70,000,000 new Ordinary Shares of no par value in the share capital of the Company (the ‘Warrant Shares’) at a price of 0.15 pence per share.

The funds from the exercise of the warrants of circa AUD 192,000 will be added to Mosman’s existing cash reserves.

Total Voting Rights

Application will be made to the London Stock Exchange plc for 70,000,000 new Ordinary Shares to be admitted to trading on the AIM market (“Admission”) with Admission expected to occur on or around 17 June 2021. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid. There are no Ordinary Shares held in treasury. Following Admission of the 70,000,000 new Ordinary Shares the total number of voting rights in the Company will be 3,754,013,052.

Consequently, the above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Company’s Constitution.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

Enquiries:

 Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com

acarroll@mosmanoilandgas.com

 

NOMAD and Joint Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

 

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

 

Joint Broker

Monecor (London) Ltd

trading as ETX Capital

Thomas Smith

+44 (0) 20 7392 1432

Updates on the Company’s activities are regularly posted on its website: www.mosmanoilandgas.com  

Mosman Oil & Gas (MSMN) – USA Operations Update

USA Operations Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on its Projects in East Texas, USA.

Falcon (50% working interest)

The Falcon-1 well has continued to produce gas and oil (condensate). The most recent sales numbers advised a gross flow rate of 548 mmbtu/day (circa 95 boepd). Whilst the workover conducted in May did not increase gas production, nor reduce water production, the well has today been recompleted in a new zone to determine if that zone will flow at a higher rate of oil and gas. This is one of two zones identified on wireline logs as hydrocarbon bearing sands. Producing this zone will increase the understanding of the reservoir at Falcon. This in turn will enable the Galaxie lease area geological model to be revised, and the potential Galaxie well ranked against alternative drilling prospects.

Gross Production from Falcon-1 in the quarter ended 31 March 2021 was 9,274 boe.

 

Stanley (15 to 19% working interest)

At the Stanley Project, several workovers have been performed to optimise oil production. These workovers are normal oilfield practice as part of an ongoing management plan to maintain production and maximize long term recoveries.

Stanley-1 has initially produced at 120 bopd. The well will require sand control, which will be installed in the near future. Stanley-2 continues to produce at 20-25 bopd. Stanley-3 is producing at circa 40 bopd, with flow rate temporarily restricted by paraffin wax build up in the flow line that occurred prior to this workover. This wax build up will be hot oil treated next week to enable the well to flow at higher rates. Stanley-4 has been recompleted in a zone that initially produced both oil and gas. The separator equipment required to produce this well has been bought and will be installed this week. The flow rates of each of these wells will be announced once stable production numbers are available.

Gross production for the quarter ended 31 March 2021 was 14,557 bbl.

 

Greater Stanley (40% working interest)

The Duff well re-completion of a shallow zone did not produce oil, and the Operator now plans to stimulate and re-complete the well in the deeper Sparta zone in June.

 

Cinnabar (Mosman 97% working interest)

Cinnabar is the project where Mosman has the highest working interest (97%) and Operatorship. Technical work continues to define locations for multiple development wells on a lease which has produced and is held by production from two existing wells. The required 3D seismic data has now been acquired and the contract awarded to reprocess this 3D seismic data.

 

Resolution of legal matter

In August 2020, Mosman advised that the party that failed to complete the contract to buy the Welch project had issued a claim for the return of the non-refundable deposit paid totaling USD90,000. This claim was considered by Mosman to be without merit (confirmed by Texas legal advice). Mosman can now advise that it has made a commercial decision to settle the claim at a total cost of USD27,500 to Mosman, so as not to incur any additional fees associated with the claim.

 

Drilling programme

With all recent activity focused on workovers to optimise near-term production from existing wells Mosman is still committed to participating in drilling several wells this year. The candidates include wells at Cinnabar, Stanley and/or Galaxie.

John W Barr, Chairman, said:  Whilst it makes sense to optimise production, the need for ongoing workover operations has delayed our plans to drill new wells. We are encouraged that higher oil price with WTI over USD 70/bbl means the economics of existing and new wells has improved compared to the challenging prices in 2020.

“We remain well funded with approximately AUD$3.5 million cash in the bank as at 6 June 2021″

 

Qualified Person’s Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

Enquiries:

 

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

 

Mosman Oil & Gas #MSMN awards contract at Amadeus Basin Permit EP 145

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, has awarded the contract for an airborne gravity and gradiometry survey over EP 145, in the Amadeus Basin in the Northern Territory of Australia, to CGG Aviation (Australia) Pty. Ltd. 

The acquisition of data is planned for mid-June and is a significant step in the exploration programme for EP 145 as it is the first time data will be acquired across the whole permit in order to identify where to focus the seismic programme to enable Mosman to identify a drilling prospect. The survey operation is subject to NT government approval, which was applied for in May.

The cA$300,000 gravity survey will provide valuable data regarding the subsurface geology across the entire 818 sq km permit area. Current subsurface seismic data is limited to the NW and central part of the permit and existing regional gravity data is too sparse to provide sufficient detail of the complex salt related structures which have been identified as hydrocarbon and helium leads within the permit.

The survey will be acquired using the high resolution Falcon Airborne Gravity Gradiometry System which has the ability to image salt and subsalt geometry across a range of depths. The technique measures the density contrast of the different rock layers with a higher level of resolution and sensitivity than standard gravity tools, improving confidence in the interpretation of high density and gravity features including salt related structures. The Falcon system has been used to successfully interpret drill targets across a variety of geological settings around the world including the Canning Basin Western Australia.

John W Barr, Chairman of Mosman commented: “This is a significant step in the exploration of EP 145. We are delighted to have awarded this contract in order for Mosman to be able to use the Falcon gravity and gradiometry data to assist with refinement of the 2D seismic programme in order to focus on potential drill targets in the permit.”

Market Abuse Regulation Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

Updates on the Company’s activities are regularly posted on its website:

www.mosmanoilandgas.com

Mosman Oil & Gas #MSMN Raises AU$102,000 in Warrant Exercise

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces that  it has received notification to exercise warrants over a total of 37,500,000 new Ordinary Shares of no par value in the share capital of the Company (the ‘Warrant Shares’) at a price of 0.15 pence per share.

The funds from the exercise of the warrants of circa AUD 102,000 will be added to Mosman’s existing cash reserves.

Total Voting Rights

Application will be made to the London Stock Exchange plc for 37,500,000 new Ordinary Shares to be admitted to trading on the AIM market (“Admission”) with Admission expected to occur on or around 27 May 2021. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid. There are no Ordinary Shares held in treasury. Following Admission of the 37,500,000 new Ordinary Shares the total number of voting rights in the Company will be 3,684,013,052.

Consequently, the above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Company’s Constitution.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

Enquiries:

 Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com

acarroll@mosmanoilandgas.com

 

NOMAD and Joint Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

 

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

 

Joint Broker

Monecor (London) Ltd

trading as ETX Capital

Thomas Smith

+44 (0) 20 7392 1432

Updates on the Company’s activities are regularly posted on its website: www.mosmanoilandgas.com  

Mosman Oil & Gas #MSMN – Amadeus Basin Permit EP145

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces that the relevant Minister in the Northern Territory Government has advised that Mosman’s application for a suspension and extension to the work programme conditions for EP145 has been approved.

Mosman will now engage the airborne gravity data acquisition company and as there are not currently any Covid-19 restrictions this survey is able to proceed in the near future.

This results in the suspension and extension mean that the work allocated to be completed in Permit year 3 and was previously due to be completed by 21 August 2021, is now due by 21 August 2022. Subsequent permit years work requirements have also been extended by one year.

John W Barr, Chairman, said: “All going well the gravity will be flown in June and the interpretation will be completed afterwards. The results from the gravity work will provide important details and will also affect the final Seismic programme which is currently in advanced planning stage.”

 

Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited

John W Barr, Executive Chairman – jwbarr@mosmanoilandgas.com

Andy Carroll, Technical Director – acarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205 / +44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital

Thomas Smith.

020 7392 1432

 

Updates on the Company’s activities are regularly posted on its website:

www.mosmanoilandgas.com

Mosman Oil & Gas #MSMN – EP 145 Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises an update in respect to EP 145 in the Amadeus Basin in the Northern Territory of Australia (“NT”).

As previously advised, Mosman is now operating in two distinct divisions. Dr Julie Daws, in consultation with the Technical Director, Mr. Andy Carroll, is managing Mosman’s exploration work in Australia, specifically EP 145 airborne gravity and seismic acquisition. Bids have now been received for the airborne gravity data acquisition and are currently being evaluated. As there are not currently any Covid-19 restrictions in the Northern Territory where EP145 is located, and no ground access is required, this survey is able to proceed in the near future once a contractor is selected and equipment is available.

Planning for the seismic acquisition is ongoing. Mr. Andy Carroll and Dr Julie Daws met with the Aboriginal Areas Protection Authority (“APAA”) and the Central Land Council (“CLC”) in Alice Springs to discuss the current work programme. An AAPA Sacred Site Clearance Certificate is required to ensure no damage to sacred sites, and this has been received.  

Other requirements prior to the seismic acquisition include the CLC requirement for a heritage survey (needed prior to ground access), where Mosman is awaiting clarity from CLC on timing and also the requirement for an on-ground environmental survey and Environmental Management Plan before the crews can access the area to acquire the seismic data. Given delays related to Covid-19, Mosman no longer considers it feasible to obtain and process the seismic data under the original EP 145 permit seismic schedule of August 2021, and Mosman has applied to the NT Government for an extension.

The subsalt play is a focus of exploration across the Amadeus Basin, including Mosman operated EP145. Two wells in the Amadeus Basin, Magee-1 in EP38 (Pacific O&G, 1992) and Mt Kitty-1 in EP125 (Santos, 2014), encountered hydrocarbons with up to 9% helium within this interval and other significant structures have been identified including Dukas-1 in EP112 (Santos, 2019) and the Zevon lead in EP115 (Central Petroleum) which is located close to EP145.

In addition to the subsalt prospectivity, EP145 contains the West Walker-1 gas discovery which lies on trend with the Mereenie oil and gas field which produces from the Ordovician Pacoota Sandstone unit and the Palm Valley gas field that have both been under production for over 30 years.

Two wells have been drilled in EP145, the first West Walker -1 (1982) tested the western end of an anticlinal feature and flowed wet gas to surface at a rate of 3.5MMscf/d from the Pacoota Sandstone, also the main producing reservoir in the Mereenie Field. A follow up well drilled, called Tent Hill -1 (1984), located to the southeast on the same anticline was deemed unsuccessful, although oil was observed weeping from cores.

As previously announced, independent resource estimates by SRK (2016) support prospective resources of 22Bcf in the Pacoota Sandstone play and additional unconventional prospective resources of 1,456Bcf in the Horn Valley Siltstone (SRK report 2016, P50 gross unrisked) on EP145.

Mr. Andy Carroll and Dr Julie Daws attended the Annual Geoscience Exploration Seminar 2021 Conference in Alice Springs on 19-20 April. The presentations included Federal and State Minister speeches with government supporting investment in exploration and infrastructure. Part of the State $9 million per annum pledge of support includes a 50% grant for geophysical work (up to $100,000 per survey) and Mosman has applied for this grant.  

There was also a presentation of the SEEBASE basement map for the whole of N Northern Territory, which will help Mosman integrate the local data obtained in EP 145 with regional geophysical data.

Further details of timing will be provided once known.

Qualified Person’s Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

 

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.comacarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

 

Updates on the Company’s activities are regularly posted on its website:

www.mosmanoilandgas.com

Mosman Oil & Gas #MSMN – Half Year Results

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces its Half Year results to 31 December 2020.

Summary

·  With a clear focus on the higher margin operations, Mosman took the decision to sell the Welch project and shares in Norseman.

·  Proceeds applied to drilling, completing, and installing production facilities at Falcon and workovers at Stanley and Greater Stanley.

· COVID-19 constraints and some production challenges resulted in lower production, which was also impacted by a volatile oil price further affecting revenue

· Revenue of AUD380,000 and Gross Profit AUD56,828

· Net loss of AUD0.7m impacted by production challenges and the volatile oil price in 2020

· Gross Project Production 34,569 BOE 1

· Net Production to Mosman 9,871 BOE 1

1 BOE/boe – barrels of oil equivalent

2 Gross Project Production – means the production of BOE at a total project level (100% basis) before royalties (where Mosman is the Operator) and where Mosman is not the operator the total gross production for the project

3 Net Production – Net to Mosman’s Working interest after royalties

Post period events

· Sold remaining shares in Norseman Silver Inc for AUD208,000

· Completed the sales of the Welch asset for AUD546,611

· Raised £1.5m to be used for Helium, Hydrogen and Hydrocarbon exploration on EP 145 in Central Australia

· Acquired an additional 20% of the Greater Stanley (Duff lease), increasing Mosman’s working interest in Duff to 40%.

John W Barr, Chairman of Mosman commented: Whilst the first half of FY21 was extremely challenging with continued economic uncertainty, volatile oil price movements and production challenges, we remained resolute that we would weather the storm.  We have started Q3 with renewed vigour having completed the disposal of the Welch project to enable us to focus on drilling activity and are look forward to the opportunity our increased working interest in Greater Stanley in the US will bring.

“We are well funded to deliver our exploration and development plan and expect to benefit from the recovery in energy prices.  This coupled with the planned exploration at EP145 in Australia, where drilling results in nearby permits have demonstrated the commercial production of hydrocarbons reinforcing the potential for successful helium and hydrogen exploration, sets out an encouraging programme for the months ahead. 

“Once again, we thank our shareholders for their support whilst reassuring them of our continued confidence to achieve growth in both production and value for the business.” 

 Link here for the full financial statements

Enquiries:

 

Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com

acarroll@mosmanoilandgas.com

 

NOMAD and Joint Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

 

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd

trading as ETX Capital

Thomas Smith

+44 (0) 20 7392 1432

Updates on the Company’s activities are regularly posted on its website: www.mosmanoilandgas.com  

Mosman Oil & Gas Limited #MSMN- Greater Stanley Workover

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on its Greater Stanley Project in East Texas. 

The Operator has confirmed that the proposed workover has now commenced to re-complete the Duff-2 well in a zone which has produced oil at the adjacent Stanley Project.

Mosman recently acquired an additional 20% interest to move from 20% to a 40% working interest. The cost of the workover is estimated to be circa US$50,000 (gross), US$20,000 net to Mosman.

Qualified Person’s Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.comacarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

Updates on the Company’s activities are regularly posted on its website:

www.mosmanoilandgas.com

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