Mosman Oil And Gas (LON:MSMN)

Mosman Oil And Gas (LON:MSMN)


Share Price
0.26 p
Change
-0.014 (-5.19 %)
Market Cap
£1.63 m
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Mosman Oil And Gas

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). 

Mosman strategic objective remains to identify opportunities which will provide operating cash flow and have...

EPIC: MSMN
Market: AIM:MSMN
52-week High/Low: 1.60p / 0.23p
Sector: Energy
Market Cap: 1.63M
Website: mosmanoilandgas.com
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Big picture - Why invest in Mosman Oil And Gas


Mosman Oil And Gas 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.

Investments

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.

 

Amadeus Basin

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.

EP145 

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:

  • The first trap with oil shows was in the Stairway Sandstone. The Stairway is the production layer (reservoir) at Surprise 1REH1. These tight conventional formations with good porosity but low permeability can flow-to-surface with new technology, and in particular multi-staged stimulation and horizontal drilling; and

  • A second trap was discovered in the Bitter Springs Formation determined to be of the Johnny Creek Beds petroleum bearing unit.  Oil shows here again were not flowed to surface as the technology to do so did not exist. There are also deeper formations which were not tested such as the Pacoota and deeper plays.

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.

Gas Pipeline

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

 

 

Directors

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.

 

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Contact Us

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.

Registered Office:
Suite 305, Level 3
35 Lime Street
Sydney  NSW  2000
 
For Shareholder Enquiries
Telephone: +61 2 8296 0000 
 
Email:

[email protected]

[email protected]

[email protected]

 

Corporate Directory

 

COMPANY

ACN: 150 287 111

DIRECTORS

John W Barr
Andy Carroll
John Young

REGISTERED OFFICE

c/- Traverse Accountants Pty Ltd
Suite 305, Level 3
35 Lime Street
Sydney NSW 2000

SOLICITORS TO THE COMPANY

As to Australian lawDLA Piper
Level 31, Central Park
152 St Georges Terrace
Perth, WA 6005

As to English lawDruces LLP
Salisbury House, London Wall
London EC2M 5PS

REGISTRARS

In AustraliaComputershare Investor Services Pty Ltd
Level 11, 172 St Georges Terrace
Perth WA 6000

In the UKComputershare Investor Services plc
The Pavilions
Bridgewater Road
Bristol BS99 6ZY

PUBLIC RELATIONS

Gable Communications
Suite 31, Second Floor, 107 Cheapsidend
London EC2V 6DN

+44 (0) 20 71937463
Contact: Justine James/John Bick

NOMINATED ADVISER

SP Angel Corporate Finance LLP
Prince Federick House
35-39 Maddox Street
London W1S 2PP

BROKERS

SP Angel Corporate finance LLP

AUDITORS

In AustraliaGreenwich & Co Audit Pty Ltd

PRINCIPAL BANKERS

National Australia Bank
Sydney

 

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