Mosman Oil & Gas - Operations Update
("Mosman" or the "Company")
Recent Economic Events
Mosman's business is clearly not immune to recent economic events including the collapse of the global oil price and distruption in the capital markets resulting from a number of factors including the Covid-19 Pandemic.
Mosman is in the process of conducting a full review of all operations, with the express objective of further reducing costs and protecting income and the Company's cash position. The review, which is expected to be concluded in the next 14 days, will be difficult and hard commercial decisions will be required.
Mosman has received notice that the operator at the Stanley project has deferred the drilling of the proposed Stanley-4 well for a period of time. Under the Joint Venture Agreement already in place the operator is entitled to make this decision, and now the last date he can commence drilling is
Once completed the results of the review will be communicated in a further announcement.
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
NOMAD and Joint Broker
+44 (0) 20 3470 0470
+44 (0) 20 3405 0205
+44 (0) 7525 324431
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: £1.35 m
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...FOR OUR FULL DISCLAIMER CLICK HERE