Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Mosman OIl forms alliance with US reorganisation specialist Blackstone

The aim is to find acreage that will provide reserves and short term production
picture of oil rigs
California and Texas will be the focus

Mosman Oil And Gas Limited (LON:MSMN) has made a strategic alliance with US group Blackstone Oil & Gas to identify distressed oil and gas opportunities in California and elsewhere in the US.

The aim is to find acreage that will provide reserves and short term production with an opportunity for upgrades over the longer term, Mosman said.

Blackstone Oil was originally formed to invest in California oil and gas opportunities and has since expanded to become a workout and turnaround specialist for distressed oil and gas companies.

It specialises in restructuring, financing, and asset acquisition and working with companies both before and throughout the bankruptcy process.

Blackstone is now expanding its portfolio outside California in to other areas of the US and in particular Texas.   

Mosman said it would also individually pursue parallel projects in both the US and internationally, some of which are at a technical due diligence stage and remain under ongoing review.

Any participation in Blackstone projects will be funded from the current liquid assets being cash or investments, said Mosman.

John W Barr, chairman, said: "The Strategic Alliance to consider the acquisition of reserves and production opportunities, initially in California, enhances the Board's strategic objective to identify opportunities which will provide operating cash flow and have development upside, in conjunction with the current exploration work on our existing exploration permits.”

View full MSMN profile View Profile

Mosman Oil And Gas Timeline

Newswire
August 07 2017

Related Articles

picture of oil facilities
August 14 2017
Echo has ‘two fantastic opportunities’ in Huayco and Rio Salado in Bolivia
Oil rig drilling
October 19 2017
In a trading update in May, the AIM-listed firm said discussions over contracts are taking longer than expected to conclude, although it still anticipated orders under negotiation will come through in its financial year ending in June 2018
petsec-energy-Maki-Petkovski-CEO-presenting-Melb-Jan-2017-757.png
February 03 2017
Maki Petkovski discussed cash flow generating assets and Yemen.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use