Statement in relation to share price movement

RNS Number : 8053Y

Mosman Oil and Gas Limited

11 September 2015

 

11 September 2015

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Statement in relation to share price movement

The Board of Mosman Oil and Gas (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company notes the recent rise in the Company's share price.

As noted in the announcement made on 3 September 2015, Mosman intends to finance its share of the Company's proposed acquisition of up to a 70 per cent. interest in NZ producing oil and gas assets which include the Rimu, Kauri and Manutahi fields from Origin Energy Limited (the "STEP Project") (the "Acquisition"), through a combination of existing cash, sale of a royalty on future production, debt, equity, and convertible securities. The Company is progressing discussions with various finance providers and will provide further updates to the market as appropriate.

Investors should consult the full announcement made by the Company on 3 September 2015, this announcement and further information in relation to the STEP Project can be found on the Company's website www.mosmanoilandgas.com.

Save for the Acquisition, the Company knows no other reason for the movement in its share price.

Enquiries

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director [e-mail] [e-mail]	NOMAD and Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail [phone]
Gable Communications Limited John Bick / Justine James [phone] [e-mail]

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

About Mosman

Mosman (AIM: MSMN) is an Australia and New Zealand focused oil exploration and development company with a strategy to build a sustainable mid-tier oil and gas business by acquisition and organic growth.  Currently, Mosman has a total of ten permits or accepted permit applications in New Zealand and Australia.

Petroleum Creek Project, New Zealand

Mosman owns 100% of permit PEP 38526, the Petroleum Creek Project, which is a 143 sq. km low cost onshore exploration project located near Greymouth on the South Island in the southern extension of the proven Taranaki oil system.

Taramakau, Murchison and East Coast Permits, New Zealand

These permits were granted to Mosman on 9 December 2014 as part of the 2014 Block Offer, a sixteen-fold increase in the exploration area in NZ from 143 sq. km to 2,317 sq. km.

Officer Basin Project, Australia (Application)

Mosman has a 25% investment in the Officer Basin Project, a 22,527 sq. km large land holding with significant exploration potential, which lies in one of the more explored parts of the Basin with road access. The project area is in the Western Australian part of the Officer Basin and offers both conventional and unconventional potential with hydrocarbon shows reported and all elements of a petroleum system are present.

Amadeus Basin Projects, Australia

Mosman owns 100% of two granted permits and one application in the Amadeus Basin in Central Australia which total of 5,458 sq. km. The Amadeus Basin is considered one of the most prospective onshore areas in the Northern Territory of Australia for both conventional and unconventional oil and gas, and hosts the producing Mereenie, Palm Valley and Surprise fields.

Otway Basin Project, Australia

Mosman owns 30% of VIC/P62 in the Otway Basin. The permit was recently renewed and is in relatively shallow water. The 70% permit holder funded a 3D seismic survey in 2013. The results of the 3D seismic survey are now being integrated into a geological model to allow identification and ranking of drilling targets. Within the Otway Basin there is commercial production both onshore and offshore.

 

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