Mosman Oil and Gas Limited Corporate Review Update (7240W)
19 April 2023 - 4:17PM
UK Regulatory
TIDMMSMN
RNS Number : 7240W
Mosman Oil and Gas Limited
19 April 2023
19 April 2023
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Corporate Review Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development, and production company, refers to the announcement
made on 28 March 2023 and now provides an update on the Review.
Background
Mosman has two distinct asset groups: the USA production and
development assets, and exploration assets in Central
Australia.
It remains clear to the Board of Mosman that the value of both
groups of assets in its portfolio is not reflected in the market
capitalisation of Mosman.
Review Update
Mosman is discussing a head of agreement for potential future
cooperation in offtake, financing, and equipment supply with a
Chinese based company. Representatives of this firm had been
planning to join Mosman's Directors and geophysicist at the annual
resources conference in Alice Springs, however they were not able
to do so due to scheduling conflicts.
Mosman's team in Alice Springs has met Government and other
parties to progress its Central Australia assets focusing on
natural gas, helium and hydrogen.
In London, Mr. David Minchin, a highly experienced helium
exploration geologist with public company expertise, has been
engaged and is actively reviewing and developing proposals to be
considered by the Board.
Discussions continue with various parties interested in the
Australian assets or the USA portfolio. All these discussions may
or may not lead to commercial proposals that will then be
considered by the Board. Given the commercial sensitivity of the
discussions, once a firm conclusion has been reached, further
announcements will be made in line with the Company's regulatory
obligations.
In other news relevant to the Central Australian assets, Mosman
notes the recent announcement by ASX listed Central Petroleum
Limited ("CTP") regarding the Central/Santos/Peak Helium joint
venture and their estimate of prospective resources in their
permits in the Amadeus Basin which are adjacent to Mosman's areas.
CTP confirmed plans to drill three wells in the next 12 months
targeting helium, hydrogen, and natural gas.
Mosman Oil & Gas Limited NOMAD and Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail
jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com / Adam Cowl
+44 (0) 20 3470 0470
Alma PR
Justine James / Pippa Crabtree
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website:
www.mosmanoilandgas.com
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END
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