Mosman Oil and Gas (LON:MSMN) is close to meeting the conditions set down for its £1.6mln acquisition of Aussie oil explorer Trident Energy.
Three of the conditions have either been met or waived while the grant of Exploration Permit 145 (EP145) is expected to satisfied shortly, Mosman said, though, as a result, the bidder's statement has been delayed and will be dispatched shortly.
John Barr, Mosman’s executive chairman, said: "We strongly believe in the Trident acquisition and the opportunity that exists with exploration funded by Mosman's strong cash resources.
“Good progress on documents has been made to date, and as is often inevitable when completing an acquisition there have been some minor delays."