Big Picture – A Deep Dive Examination of Mosman Oil And Gas Ltd
Mosman Oil And Gas Ltd Snapshot
Mosman is admitted to the AIM market of the London Stock Exchange plc.
Mosman operates in politically stable countries with a strategy of expansion through Organic growth (exploration of existing permits) and Strategic growth (acquisition of new permits, mergers or takeovers).
The Company's objective is to build a sustainable company by means of organic growth and acquisitions, however, given ongoing uncertainties associated with the current oil price and equity markets, the Board also feels it has a responsibility to continue to monitor and evaluate the effectiveness of its business objective, strategy and plans.
GEM International Resource Inc. (GEM)
Mosman currently owns c7.6 million shares in the TSX-V listed GEM International Resources Inc. ("GEM") (TSX-V: GI). GEM shares remain suspended due to the previous board failing to complete the required financial reporting. The newly appointed board which includes Mosman’s chairman is reviewing the financial and corporate status of the company and have arranged for the required reports to be prepared and audited. That process will be concluded shortly.
Mosman owns one granted Permit and one application in the Amadeus Basin in Central Australia.
The Amadeus Basin is considered one of the most prospective onshore areas in the Northern Territory of Australia for both conventional and unconventional oil and gas, and hosts the producing Mereenie, Palm Valley and Surprise fields.
It is encouraging to note that the Northern Territory Government is progressing on the development of a gas pipeline and has selected Jemena Northern Gas Pipeline Pty Ltd to construct and operate the North East Gas Interconnector (NEGI) Pipeline.
The permit contains a significant anticline (named West Walker), of over 30km in length. The anticline itself hosts Ordovician through to Neoproterozoic stratigraphy open at various levels. The significance of the geology is its proximity to the nearby Mereenie oil and gas field, which produces from the Ordovician Pacoota Sandstone unit.
Two wells have been drilled on the anticline, the first West Walker -1 tested the western end of the feature based on a poorly definied seismic grid in 1982, but flowed wet gas to surface at a rate of 3.5MMscf/d from the Pacoota Sandstone, the main producing reservoir in the Mereenie Field. A follow up well drilled, called Tent Hill -1 (1984), located to the southeast on the same anticline (and very poor seismic grid was deemed unsuccessful, although oil was observed weeping from cores.
SRK Consulting (Australia) finalised a report ("SRK Report") into the prospective resources contained in permit EP 145 which is on trend with the existing producing Mereenie oil and gas field. The report highlights the potential for both conventional oil and gas resources in proven reservoirs within the West Walker Anticline and unconventional gas resources in the Horn Valley Siltstone.
SRK has calculated unrisked prospective resources within both plays which are documented below:
Resource Type P50
Conventional Recoverable Gas (Bcf) 12.44
Unconventional Recoverable Gas (Bcf) 1456
Table 1: Unrisked REsources (Source: SRK Report)
EP(A)155 Mount Winter
Located within the prime Horn Valley Siltstone fairway between the Mereenie and Surprise Oil Fields, EP(A)155 contains the historical wells Mount Winter 1 and 1A that reported oil shows1. Seismic and well data comprise limited 2D seismic lines and two wells, one with oil shows. These oils shows were recorded within two formations:
EP(A)155 is an exploration permit application; as such it is subject to successful land access negotiation with the Traditional Owners prior to the grant of the permit.
The Northern Territory Government is progressing on the development of a gas pipeline, and appointed Jemena.
Jemena has reported that the construction of the 622km pipeline is now complete, reportedly it is the largest current gas pipeline project in Australia.
Overall, the project is on schedule. Apart from the pipeline itself the Mount Isa Compressor Station is completed and the Philip Creek Compressor Station is well advanced. The next step is to rigourously check the compressors stations with comissioning now expected in late 2018.
Sub Salt Play
The following is a presentation made at the 2016 AGES Conference see attached link.
USA Project Location Map
John W Barr, B.Bus (Acc.), CA, FAICD, Executive Chairman
John is the founder of the Company, based in Perth, Western Australia. John is a Chartered Accountant and Fellow of the Australian Institute of Company Directors and has acted as director of listed and unlisted companies for over twenty five years.
He has specialised in the management of companies including advice on capital raisings, mergers and acquisitions, negotiating onshore and offshore acquisitions and joint ventures, negotiating commodity based funding, and compliance with corporate and stock exchange requirements.
John worked extensively in starting up and building resource businesses, historically in mining. Prior to founding Mosman, he was Chairman of TNG Limited and, previously, Thor Mining PLC as well as several Australian listed companies including Sherwin Iron Limited (formerly Batavia Mining Limited). John was one of the founding Directors of Aquarius Platinum Ltd and negotiated various transactions on behalf of Aquarius (including the Penny West high grade gold deposit and the Awak Mas project in Indonesia). He was actively involved in the acquisition of the Aquarius platinum leases in South Africa, and the disposal of Lone Star Exploration generating a material profit for Aquarius. His roles at Aquarius also included the appointment and handover to a successful operational management team.
He has extensive Australian and international experience with exposure to manufacturing, mining and mineral exploration and development in respect to several commodities. He also has direct experience at senior management levels in a variety of industries.
John W Barr has responsibility on the board for the finance function of the Group.
Andy Carroll, BA, MA (Engineering) Cambridge, Technical Director
A mechanical engineer by background, Andrew has spent his career in the oil industry, initially with BP. He is currently managing director of Australasian Energy Pty Ltd.
He has worked in Australasia for more than 20 years. Andrew's role at Ampolex Limited included proposing PNG gas developments to the Pandora and Kotuku joint ventures, which have now become an ExxonMobil c.$20bn liquefied natural gas development. Andrew was headhunted to InterOil Corporation to run its Papua New Guinea exploration business; discoveries were made in 2002 resulting in material share price appreciation. His more recent activities have included a number of successful smaller groups – Great Artesian Oil & Gas Ltd, Petroleum Exploration Australia Pty Ltd (sold in 2008) and founding director and former managing director/chief executive officer of the Phoenix Oil and Gas Limited royalties business.
His expertise covers a wide range of the energy business, with particular expertise in oil and gas, from permit applications and initial exploration operations including drilling, to development, production and marketing of oil and gas. This includes taking InterOil Corporation from applying for permits to discovery of a new petroleum system in PNG. Andrew also advised AGL Energy Limited in establishing an exploration and production business with acquisition and operations of coal seam methane assets including Sydney Gas, and Moranbah. International experience includes UK, Canada, Australia, NZ and PNG.
John A Young, B App Sc (Geol), Grad Dip Tech Management, MAUSIMM, Non-executive Director
John Young is a geologist with 25 years' experience in resource project management and corporate management. He is a member of the Australian Institute of Mining and Metallurgy and has worked on wide variety of mineral and resource projects throughout Australia and overseas.
In addition, John has held senior management and operational positions. He is currently Exploration Manager of Arunta Resources Limited and Principal Geological Consultant to Pilbara Minerals Limited. Both exploration companies are listed on the ASX, the latter a company focused on specialty metals and gold exploration in the Pilbara of Western Australia and in Papua New Guinea.
For more information or if you have any queries you can contact Mosman Oil and Gas Limited at the address listed below or by completing the enquiry form.