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

Mosman Oil and Gas raises £600,000 to support growth plan

“The placing will provide funding to progress the growth in the operational side of our US onshore production acquisitions,” said John Barr, executive chairman.
oil and gas operations
Mosman is issuing 50mln new shares at a price of 1.2p.

Mosman Oil And Gas Limited (LON:MSMN) has raised £600,000 in a share placing to support the company as it advances its production growth and acquisition strategy.

The placing is being arranged by SP Angel and it sees Mosman issuing 50 mln new shares at 1.2p per share. In late afternoon trading, Mosman chares were changing hands at 1.38p each, down 0.15p on Thursday's close.

READ: Mosman Oil and Gas continues to make progress with US operations

It said the proceeds will accelerate the ongoing development of the company’s existing US onshore oil production assets, and support its working capital position as it conducts due diligence on new opportunities.

“The placing will provide funding to progress the growth in the operational side of our US onshore production acquisitions,” said John Barr, executive chairman.

WATCH: Mosman Oil & Gas picks up new assets in Texas

“Our growth strategy remains focused on identifying further opportunities like Strawn, Welch and Arkoma that can provide operating cash flow and have additional development upside, in conjunction with adding value to our existing exploration permits."

 -- Adds share price --

View full MSMN profile View Profile

Mosman Oil And Gas Timeline

Newswire
August 07 2017

Related Articles

Lekoil oil field development operations at Otakikpo project
February 20 2017
Otakikpo will now be ramped up from 5,000 bopd to 10,000 bopd over the coming months.
A Highland oil rig
September 08 2017
WH Ireland's analysts noted "that frack crews today are in demand and the company is clearly being prioritised by service companies not known for providing favours to junior oil companies”
picture of oil well
September 13 2017
Programme will boost production from 30 barrels per day currently to a peak of over 150

© 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