Mosman Oil & Gas - Acquisition of assets in USA & Stanley 4 update
("Mosman" or the "Company")
Acquisition of assets in USA
Stanley 4 update
Mosman and its
This first acquisition of additional acreage is an existing oil producing lease "Greater Stanley 1" covering circa 36 acres and situated near the existing
The second acquisition is an adjacent lease circa 35 acre lease with no wells, "Greater Stanley 2". This area is being leased directly from landowners.
The next step for the Greater
The total cost to Mosman of the two acquisitions is circa
Neither acquisition currently has any associated reserves or resources attributable to them.
Both acquisitions remain subject to agreeing final documentation and associated conditions precedent and are being funded out of the Company's existing cash resources.
Mosman has been advised that site preparation work is continuing. The decision has been made to upgrade the access road to site and as a result Stanley-4 is now expected to be drilled in
John W Barr, Chairman, said: "Mosman is pleased to provide tangible evidence of the benefit of its investment in business development work with
Competent Person's Statement
The information contained in this announcement has been reviewed and approved by Andy
Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside
information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
John W Barr, Executive Chairman
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+44 (0) 20 3470 0470
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020 7392 1432
Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com
This information is provided by RNS, the news service of the
Quick facts: Mosman Oil And Gas Ltd
Market Cap: £1.24 m
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