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

Mosman Oil & Gas cautiously optimistic as it reports full year results

Despite reporting a US$9.18mln loss for the twelve months ended June 30 2017, the company has reduced operating and corporate costs.
Oil wells
Mosman said: "Life for junior oil and gas companies is still challenging."

Mosman Oil & Gas Ltd (LON:MSMN) told investors it has “cautious optimism” looking ahead, as it reported financial results for the twelve months ended June 30 2017.

The company, which is moving on a number of new projects in North America, reported a US$9.18mln loss including a US$7.42mln non-cash write off, though it said that it has been successful in reducing its operating and corporate costs.

It had US$16,037 of revenue in the period, in which it began its US strategy, and it ended June with US$1.66mln of cash and equivalents. Current assets had a reported worth of US$2.38mln.

READ: Mosman Oil And Gas extends option deadline for the Arkoma acquisition

Giving its outlook, Mosman said: “The future is not yet radiant and life for junior oil and gas companies is still challenging; but we again look forward with cautious optimism and the further expansion of production increasing initiatives in the company's production assets.

“The ongoing work on the Australian permits will continue.”

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.
picture of oil field
June 26 2017
“Ntorya-3 is ready to go but want to make sure, we maximise as many targets as we possibly can.”
onshore oil rig silhouette
June 13 2017
At the end of May 496 barrels of oil was collected and sold from the project, meaning Mosman is no longer just an explorer

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