Mosman Oil and Gas Limited Corporate Review Further Update (4105Y)
04 May 2023 - 4:13PM
UK Regulatory
TIDMMSMN
RNS Number : 4105Y
Mosman Oil and Gas Limited
04 May 2023
4 May 2023
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Corporate Review Further Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development, and production company, refers to the announcements
made on 28 March and 19 April 2023, following which Mosman's Board
of Directors have recently met and discussed matters in respect to
the Corporate Review and provides an update on progress.
The Board has resolved that in respect to the Australian assets,
being the EP 145 permit and the EP(A) 155 exploration permit
application in the Amadeus Basin in Central Australia, that the
best way forward is to pursue a separate stock market listing in
London.
The Company is progressing positive commercial negotiations on
potential future helium production offtake arrangements in respect
of EP 145, with two Chinese based companies.
A second key decision was also made in relation to pursuing a
separate stock market listing for the Australian assets to appoint
a specialist advisor. Accordingly, Mosman is in discussions with
various corporate advisory firms in regard to services to assist
the process of listing the Australian assets in London.
Parties required to complete the listing process, including
lawyers, accountants, auditors, brokers and a competent person
(CPR), will all be appointed shortly. Mosman has already received
expressions of interest from several parties and critically parties
seeking to participate in the proposed raising.
The Company is aiming to complete the separate listing of the
Australian assets in CYQ4 2023.
Mr. David Minchin, the highly experienced helium exploration
geologist, is continuing to work with the team to deliver the
optimum outcome as the team works towards the implementation of the
corporate review strategy.
Mosman's Chairman, Mr. John W Barr, said: "By drawing together
the knowledge of David Minchin and the experience of the Mosman
Board, it is hoped that we can achieve a separate stock market
listing for the Australian assets, which we consider to be in the
best interests of the Company in order to maximise value for
shareholders."
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 information is now considered to be in the
public domain.
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
Notes to editors
Mosman (AIM: MSMN) is an oil exploration, development, and
production company with projects in the US and Australia. Mosman's
strategic objectives remain consistent: to identify opportunities
which will provide operating cash flow and have development upside,
in conjunction with progressing exploration of its existing
exploration permit and permit application. The Company has several
projects in the US. In addition to exploration projects in the
Amadeus Basin in Central Australia.
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END
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